Canadian company discovers silver and gold in southeast

Canadian company Medgold Resources has discovered excellent indicators of rich precious metal deposits near Serbia's borders with Bulgaria and Macedonia.

Source: Tanjug
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(Thinkstock)
(Thinkstock)

Tanjug is reporting this, citing Belgrade-based daily, Vecernje Novosit.

As part of its Talmino Project, the exploration company has found a 40 meter layer containing 8.32 grams of gold per ton, and "an almost incredible" 193 grams of silver per ton, the newspaper writes.

Afterwards, it signed an agreement on a joint investment with another Canadian firm, Fortuna Silver.

Under the agreement, Fortuna Silver is obliged to invest 8 million dollars in further geological explorations - conducted in an approx. 200 square kilometer area - and could acquire a 70 percent stake in the Talmino Project in exchange, the paper said.

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