Germany Chancellor plans lithium deal with Serbia after Rio ruling
Olaf Scholz plans to visit Serbia this week to secure supplies of lithium that are critical for the nation’s energy transition and auto industry.
Medgold has released a maiden inferred mineral resource of 7.1 million tonnes grading 3 g/t gold-equivalent for a total of 680,000 gold-equivalent oz. for the Barje prospect within the Tlamino project in Serbia.
In addition, initial metallurgical test results suggest gold recoveries to concentrate of 88.2% to 90.5% based on bulk rougher flotation tests.
In March 2017, Medgold entered into an option agreement with Fortuna Silver Mines with Fortuna holding the option to acquire up to a 70% interest in the Tlamino project by spending a total of $8 million on exploration and completing a preliminary economic assessment for the project. Thus far, Fortuna has earned a 51% interest in Tlamino and holds approximately 22% of Medgold’s shares.
The Barje resource currently extends to a depth of 110 metres and covers an area of 600 metres by 350 metres with a thickness of 10 metres to 40 metres. Mineralization was first identified at Barje in the 1950s; Medgold completed mapping, sampling and geophysical surveys as well as drilling between 2018 and 2019.
Medgold has identified additional prospects within the 200-sq.-km Tlamino project.
Tlamino is located within the Western Tethyan gold belt; other projects within this region include Dundee Precious Metals’ Chelopech mine and Eldorado Gold’s Olympias and Skouries projects.
(This article first appeared in the Canadian Mining Journal)
