Mining Intelligence and News

Tlamino Project

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Mine TypeOpen Pit
StagePreliminary Economic Assessment
  • Gold
  • Silver
Mining Method
  • Truck & Shovel / Loader
Mine Life... Lock
SnapshotManagement of Medgold is pleased to complete the return to the Company of 100% ownership of the Tlamino Project. This step is one of the conditions required to complete Medgold’s proposed acquisition of Balkan Metals Corp. which holds a portfolio of exploration licenses in Serbia, some of which are contiguous to the Tlamino Project. With mineral rights covering close to 1,000 square kilometers, the resulting company will be the largest holder of highly prospective exploration ground in the Republic of Serbia.


Medgold Resources Corp. 100 % Indirect
On February 7, 2023, Medgold Resources Corp. has closed its re-acquisition of 100% ownership of the Tlamino Project.



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Deposit type

  • Epithermal
  • Skarn
  • Porphyry
  • Carbonate replacement
  • Hydrothermal
  • Magmatic


Medgold’s exploration programmes in southwest Serbia have targeted magmatic-hydrothermal type mineralization related to Cenozoic magmatism in the Western Tethyan Metallogenic Belt, with deposit styles including porphyry, epithermal, skarn and carbonate replacement deposits (CRD).

The Property hosts three identifiable mineralized zones at the Barje Deposit, the Liska Prospect and the Karamanica Prospect.

The Barje Deposit
The Barje Deposit is the most advanced mineralized zone within the Property. It is located on an east-west trending ridge at elevations ranging from approximately 1100 m in the east to 1300 m in the west. Historical prospecting located two main areas of outcropping gold and base metal mineralization at Barje. Medgold’s drilling has confirmed the continuation of mineralization between and to the west of the discovery outcrops in an area of 700 m east-west by 250 m north-south (Medgold Resources Corp, 2019a). Said mineralization is controlled by a hydrothermal breccia, of up to 20 m in thickness, following a structure inclined approximately 18° towards the south. This structure cuts a fault-bounded sequence of schist and conglomerate above a dacite sill intruded along a detachment surface at the top of the Crnook basement. While mineralization is strongest in the hydrothermal breccia, a halo of lower-grade mineralization is also found in the overlying rocks. The hydrothermal breccia comprises transported clasts of the local wall-rocks cemented by a matrix of quartz ± calcite/siderite and sulphide minerals, including pyrite, arsenopyrite, sphalerite, galena and more rarely chalcopyrite and tennantite. Grains of electrum up to around 50 µm in size and containing approximately 60% Au and 40% Ag, have been observed microscopically within the higher-grade mineralization.

The Liska Prospect
The Liska Prospect is situated 1500 m southwest of the Barje Deposit at an elevation of approximately 900 m. During 2019, Medgold carried out drilling. The combined area of mineralization reported from State drilling and Medgold’s drilling is approximately 680 m north-south by up to 270 m east-west.

The mineralization is associated with a flat-lying faulted boundary between overlying conglomerate units and underlying schist units; these appear to be similar lithologies to the conglomerates and the lower schist units, respectively, at Barje. Mineralization occurs at and below the boundary between the conglomerates and the schist with thicknesses of up to approximately 50 m. The zone outcrops at surface in the south of the Prospect and continues to depth under higher topography to the north.

The current spacing of Medgold’s drill holes does not allow geostatistical calculation of continuity within the mineralization; estimates using Medgold and historical State data suggest continuity in the order of 100 m to greater than 250 m north-south and 50 metres to 100 metres east-west. Mineralization consists of quartz-pyrite veins of up to approximately 4 centimetres in width containing sphalerite and galena.

The Karamanica Prospect
The Karamanica Prospect covers numerous minor occurrences of gossan, alteration and vein related mineralization recognized during exploration by Yugoslav State agencies between the 1950s and 1980s. The State exploration work led to the discovery of the Podvirovi occurrence. Rock sampling by Medgold has confirmed the presence of hydrothermal alteration and veining with elevated levels of gold and base-metals at multiple locations within the Prospect but with no significant continuity between elevated values. Scout drilling by Medgold during 2019 intersected only minor lead-zinc mineralization in quartz-carbonate veins associated with a fault zone and the margin of a porphyritic intrusion.



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Mining Methods


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Crushers and Mills


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CommodityUnitsAvg. AnnualLOM
Gold koz 50390
Silver koz 4,022
All production numbers are expressed as metal in concentrate.

Operational metrics

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* According to 2021 study.

Production Costs

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* According to 2021 study / presentation.

Operating Costs

OP mining costs ($/t mined) USD 2.3 *  
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* According to 2021 study.

Project Costs

MetricsUnitsLOM Total
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OP OpEx $M USD  ......  Subscribe
Processing OpEx $M USD 65.3
Transportation (haulage) costs $M USD 8.4
G&A costs $M USD 33
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Pre-tax NPV @ 8% $M USD  ......  Subscribe
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Required Heavy Mobile Equipment


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Mine Management

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Jan 7, 2021
....................... Subscription required ....................... Subscription required Subscription required Jan 7, 2021
....................... Subscription required ....................... Subscription required Subscription required Apr 24, 2023

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