Canadian Medgold to Continue Exploring Gold and Silver Near Bosilegrad This Spring – Decision on Potential Exploitation from Rich Barje Site in Two Years

The Canadian company Medgold Resources, which has discovered a rich gold and silver site near Bosilegrad, will continue its explorations in the spring.

As Aleksandar Vulovic, a representative of this company, which discovered the Barje location near Bosilegrad in 2018, said for eKapija, there is an economic feasibility for the explorations to continue.

– We actively researched the location in 2018 and 2019, whereas, last year, due to the coronavirus, we slowed down the tempo, but next year in the spring we are to continue at our previous intensity. We now also have a potential partner, the company Metaltech from Australia, which is supposed to develop the project in more detail – Vulovic says.

When asked when we could expect the project to be concretized, Vulovic says that it’s too early to tell, because it will take another few years to do more detailed research and prepare the technical studies that would enable the potential exploitation of the ore.

– We now only have exploration rights, but not exploitation rights yet. At the moment, we are in the middle of the project, the next steps are to continue the explorations and then to also prepare the spatial-planning documentation, which leads to getting exploitation rights – our interviewee explains.

He adds that, in two years, the company will have a clearer idea of what the site is like and more detailed information about the mining body, based on which the design, the methodology of excavation and the mining structures are prepared.

Vulovic also points out that the company wants to start exploring some other locations in Serbia and that locations which are still available should be looked into, but notes that Barje is currently the priority of Medgold in Serbia.

The website of the company Medgold Istrazivanja doo Beograd, the Serbian subsidiary of the Canadian company, points out that Medgold currently has five approved exploration rights, each of which covers close to 100 square kilometers and which encompass a potentially rich belt of the mineralization of silver with gold, which covers central and southern parts of Serbia.

Near the Municipality of Bosilegrad, Medgold has three exploratory rights which cover a total of around 250 square kilometers, two of which are within the Tlamino Project, which also covers the Barje location.

As the media reported last summer, Medgold discovered close to 19.3 tons of gold, worth more than a billion dollars, within the Tlamino Project.

B. Petrovic

Medgold istraživanja doo Beograd

Medgold istraživanja doo Beograd

Medgold Resources Canada

Barje

Aleksandar Vulović

Tlamino Project

gold

silver

ores

research

explorations rights

ore sites

exploitation

mine