Overview
| Stage | Preliminary Economic Assessment |
| Mine Type | Open Pit |
| Commodities |
|
| Mining Method |
|
| Mine Life | 8 years (as of Jan 1, 2021) |
Source:
Medgold is the indirect 49% owner of the Tlamino Project to which this report relates. Fortuna Silver Mines Inc. is the direct owner of 51% of the Tlamino Project.
On July 25, 2022, Medgold Resources Corp. entered into two definitive agreements with Fortuna Silver Mines Inc. (NYSE:FSM) (TSX:FVI) (“Fortuna”), to acquire Fortuna’s 51% interest in the Tlamino Project, located in Serbia.
The first such agreement terminates the Option Agreement (the “Option”) entered into between the parties on December 15, 2020 that provided for Medgold to acquire the Interest for a cash consideration of US$ 3.468 million (news release, January 7, 2021) and the second, which converts the Interest to a 1% Net Smelter Return royalty (the “Royalty”) in favour of Fortuna. All obligations under the terms of the Option have been extinguished. The Royalty may be purchased at any time for a cash consideration of $3 million dollars. The agreements are subject to TSX Venture Exchange acceptance.
Contractors
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Deposit Type
- Epithermal
- Skarn
- Porphyry
- Carbonate replacement
- Hydrothermal
- Magmatic
Summary:
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 ........
Summary:
The Barje Deposit is relatively thick, flat-lying and situated under shallow to medium-depth overburden. Initially both low-cost open pit, as well as underground methods with higher selectivity were considered, however open pit methods were preferred on account of the overall low stripping ratio and generally low RQD of the rock mass Mining via open pit methods using hydraulic excavators and wheel loaders charging articulated dump trucks for haulage of both waste and potentially economic material is therefore projected. Mining activities at Barje will include free- digging of the weathered zones, the blasting of fresh rock, and loading, hauling and dumping of the respective materials, plus mining support activities. The removal and stockpiling of topsoil will be performed prior to mining.
A preliminary geotechnical characterization was undertaken, including logging of resource drill holes geotechnically for RQD, plus visual observation of cores for validation. RQD is generally low to moderate, with values ranging from 20% to 70%, although higher RQD was determined for the calcareous schists. Preliminary overall slope angles of between 37° (West) and 41° (East) were selected. No testing or modelling of pit hydrogeology has been completed to date, however reasonable provisions for pit water management including perimeter dykes and diversion ditches, in-pit water collection ditches, and in-pit pumps and collection systems to transfer water from the open pits to discha ........
Source:
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Flow Sheet:
Summary:
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Reserves at January 7, 2021:
The Mineral Resource, as reported above a cut-off grade of 0.7g/t AuEq.
| Category | Tonnage | Commodity | Grade | Contained Metal |
|
Inferred
|
7,100,000 t
|
Gold
|
2.5 g/t
|
570,000 oz
|
|
Inferred
|
7,100,000 t
|
Silver
|
38 g/t
|
8,800,000 oz
|
|
Inferred
|
7,100,000 t
|
Gold Equivalent
|
2.9 g/t
|
670,000 oz
|
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