This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Medgold Issued Vila De Rei Gold Exploration Licence In Portugal


VANCOUVER, March 4, 2013 /PRNewswire/ - Medgold Resources Corp. (TSX-V: MED), the European focused gold exploration company, is pleased to announce that it has been issued the highly prospective 300 square kilometer Vila de Rei gold exploration licence in central Portugal.
  • Licence located in highly prospective central Portuguese region.
  • High-grade rock grab samples, from trace up to 24.7 g/t Au.
  • Over 40 km of structure identified already.
  • Exploration work to commence immediately over key prospect areas.
  • Acquisition marks further step in Medgold's rapid expansion strategy.

Dan James, President of Medgold, said, "Receiving our first licence in Portugal is a significant milestone for the Company, and underpins our strategy of targeting exploration projects with multi-million ounce potential.  The Vila de Rei licence covers 40 line km of a regional shear-structure with multiple zones of highly anomalous mineralization.  It represents a very exciting regional exploration play, and is located 200 km south from our optioned Boticas licence, where we hope to receive the licence soon.  We look forward to advancing both our Portuguese asset and our Italian licences where exploration continues to yield positive results."

The licence was issued by the Direção-Geral de Energia e Geologia (DGEG) of Portugal, and was counter-signed by the Portuguese Minister of Economy and Employment, Álvaro Santos Pereira.  It was presented to Medgold at the offices of the Ministry Economy and Employment in Lisbon by the Minister of the Economy and general directors of the DGEG.  The Minister has recently publically commented that the Government is, and will continue, to ease legislation to fast-track strategic mineral resources into production.  Furthermore, the Minister cites the mining sector as one of the most prospective growth industries, which will contribute to the Portuguese economy and help pull it from their financial crisis.  The Company is therefore very pleased to be working within a forward-thinking and mining-friendly jurisdiction.

The Vila de Rei licence hosts shear-related gold mineralization in sediments.  Several strike-extensive anomalies have been identified by previous explorers, with rock grab sampling yielding best results of 24.72, 22.85 and 19.24 g/t Au.  Reconnaissance rock-chip sampling by Medgold yielded best results of 5.25 and 0.43 g/t Au from three samples.  More recent reconnaissance work by Medgold has identified an intensely silicified zone within quartzites exposed intermittently over several hundred meters, with results pending.

The sampling by previous companies is historical in nature, and reported in internal reports archived in the Laboratório Nacional de Energia e Geologia (LNEG) in Porto, Portugal, and have not been verified by Medgold, and are quoted for information purposes. Medgold's Qualified Person has verified that the technical information disclosed herein is an accurate summary of the internal reports.

Ground crews are expected to commence licence-wide sampling and mapping, combined with detailed channel-chip sampling over the key prospects, in mid-April 2013.  Initial detailed work will focus on the newly identified silicified zone in the central part of the licence.

Qualified Person Stewart D. Redwood, Consulting Geologist to the Company, is a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure or Mineral Projects - and prepared or reviewed the preparation of the scientific and technical information in this press release.

Medgold has carried out limited rock chip sampling at Vila de Rei for evaluation purposes. The samples collected were prepared by ALS Minerals at the Rosia Montana Laboratory, Romania, and analyzed for gold by fire assay with atomic adsorption finish. Samples above 10 g/t were repeated by fire assay with a gravimetric finish. Multielements were analyzed by ICP.

About Medgold Medgold is aiming to become the leading Mediterranean-focused gold exploration and project development company, with an extensive pipeline of projects across Portugal, Italy and Spain, targeting economically stressed, but politically stable European countries, that are seeking foreign investment to invigorate the mining sector.

Additional information on Medgold can be found on the Company's website at and by reviewing the Company's page on SEDAR at


1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.02 0.00%
FB $104.07 0.00%
GOOG $683.57 0.00%
TSLA $162.60 0.00%
YHOO $27.97 0.00%


Chart of I:DJI
DOW 16,204.97 -211.61 -1.29%
S&P 500 1,880.05 -35.40 -1.85%
NASDAQ 4,363.1440 -146.4150 -3.25%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs