This Day On The Street
Continue to site
ADVERTISEMENT
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

Major Gold-Antimony Target Defined At Pietratonda, Italy

VANCOUVER, April 24, 2013 /PRNewswire/ - Medgold Resources Corp. (TSXV: MED), the European focused gold exploration company, is pleased to announce results of recently completed exploration at its wholly-owned Pietratonda licence in the Colline Metallifere of Central Italy.

HIGHLIGHTS
  • A total of 273 rock samples collected (including QA-QC)
  • Au-Sb anomaly defined over 600 by 200 metres
  • Anomalism associated with inferred high-angle 'feeder' structure
  • Mineralization typical of Carlin-style / sediment hosted
  • Major drill target defined

Dan James, President of Medgold, said, "The current work has outlined a large gold-antimony anomaly and highlights the exciting potential of the Colline Metallifere of Central Italy.  We believe that the gold mineralization is controlled by high-angle thrust faults and zones of silicified limestone, known as jasperoids, which represent broad areas of lateral fluid flow.  This means that high grade Au-Sb mineralization may occur at depth along these structural features.  Clear drill targets have now been defined which are designed to test the mineralization at depth."

Mineralization in the Colline Metallifere exhibits many geological similarities with deposits in the Carlin Trend, Nevada such as the structural setting, host rocks and general controls, yet the region has received very little modern exploration.  Pietratonda is the first of a number of targets that Medgold plans to explore and the results to date support the presence of a potentially significant new sediment-hosted gold district.  The Colline Metallifere extends over 100 km in a northwest-striking direction and hosts numerous mineral occurrences.  Furthermore, the region currently has 32 active quarrying and mining projects, which highlights it as an exciting and serious mining destination.

The Pietratonda Project

The Pietratonda Project is located in the Colline Metallifere (the "Metal-Bearing Hills") of Central Italy, in the Province of Grosetto, Region of Tuscany.  Mineralization in the project is hosted by limestones which have been altered to jasperoids, the distribution of which is controlled by high-angle thrust faults which have subsequently become extensional, thus allowing upward fluid flow.

Work by Medgold commenced on the project in April 2012 with a soil-grid sampling program which defined a broad north-south trending gold anomaly over 1,400 by 500 meters.  A  NI 43-101 report was completed in September 2012 (the report can be downloaded at http://www.medgoldresources.com/medgold-reports.asp ).

The recent work, carried out in the first quarter of 2013, consisted of a two-phase program of grid-rock chip and float sampling, whereby initial samples were collected on a 50 by 50 meter grid, with zones of anomalism later infilled on a 25 by 25 meter grid.  The sampling focused on broad zones of outcropping jasperoid mineralization within the host limestone. Coincident with the sampling, field geologists completed detailed geological mapping noting lithology, structure, and alteration.

1 of 3

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
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,385.69 +34.31 0.21%
S&P 500 1,959.06 +10.20 0.52%
NASDAQ 4,759.1670 +9.1880 0.19%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs