Apr
12
Friday, Apr 12, 2013
VANCOUVER, April 9, 2013 /CNW/ – Medgold Resources Corp. (TSX-V: MED), the European focused gold exploration company, is pleased to announce that it has now completed the application process and paid all relevant taxes for three contiguous gold exploration permits covering 79 square kilometres in southern Galicia, Spain, (the “Pinzas Gold Project”).
Dan James, President of Medgold, said, “This transaction marks our entry into Spain. We believe the entire region is highly prospective, already hosting several advanced gold projects. We have identified a 14 km linear deformation zone, with multiple known high-grade gold occurrences on the application areas, and we will be implementing exploration work upon licence issuance by the provincial mining authorities to test the potential of this area and identify further targets. The geology is very similar to our Boticas project in Portugal, located 100 km to the southeast, where we have an exclusive option, and we consider that both projects have multi-million ounce potential.
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.
SOURCE Medgold Resources Corp.
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