|By Marketwired .||
|May 13, 2014 03:30 AM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/13/14 -- Medgold Resources Corp. (TSX VENTURE:MED), the European focused gold exploration company, is pleased to provide an exploration update on current exploration work its high-priority Lagares, Vila de Rei and Ponte da Barca exploration projects in Portugal.
Medgold acquired Klondike Gold's Portuguese project portfolio in December 2013 (see news release dated December 11, 2013) and is now exploring all concessions covering over 1,000 square km in Portugal. The Company is completing a major reinterpretation of historical results and the early geological observations from this work have identified several key prospects where field work is now on-going.
Vila de Rei Gold Project
A stream sediment survey has been completed at the Vila de Rei gold project in central Portugal, covering the entire 300 sq km licence area. The results of this program are pending. Reconnaissance field work has identified a number of new zones of intense mineralization generally located along the contact between quartzites and siltstones.
The style of mineralization seems to be broadly analogous to that seen at the Pampilhal occurrence, located in the northeast area of the licence, where mapping and rock-chip sampling has identified a series of silicified ribs or ridges. Sampling at Pampilhal yielded assay results ranging from trace to 12.45 g/t Au. Detailed mapping and channel-chip sampling is underway with results expected in late Q2 2014.
Lagares Gold Project
The Lagares gold project is located on the central-eastern part of the Valongo Belt close to the town of Sobreira. Gold mineralization occurs along a granite-schist contact and was locally exploited in a series of underground adits. Medgold's work is focused on understanding the controls on gold mineralization, particularly the high-grade mineralization at the Serra da Quinta occurrence, as observed in historic drill core and the underground workings. The aim is to also delineate surface gold anomalism which is believed to continue for a further 1.5 kilometers to the south of the underground workings. The controlling structure appears to mark a granite-schist contact and is considered to be the main 'feeder' structure. It has been traced over a total strike length of 3 kilometers and remains open to both the south and the north.
Historical drilling at Serra da Quinta by Billiton and Connary Minerals yielded the following highlights:
-- 13.1 m at 3.84 g/t Au from 1.0 m, including 2.9 m at 13.15 g/t Au from 4.36 m (BIL67, Billiton Portuguesa, 1990) -- 18.6 m at 3.73 g/t Au from 4.2 m (MIL29, Billiton Portuguesa, 1988) -- 11.3 m at 3.75 g/t Au from 11.4 m (95-13, Connary Minerals, 1995)
Historical reports indicate a total of approximately 1,600 meters of diamond drilling was completed in 51 holes at Serra do Quinta. These are historical data provided for information purposes and Medgold has not completed sufficient work to verify these results.
Future work at Serra da Quinta will continue the detailed mapping and interpretation, combined with surface and underground channel sampling, plus some re-sampling of the historical drill core. Assuming positive results a trench-sampling program will be conducted, with up to 10 lines 100 m apart along the strike length of the prospect. It is anticipated that this work will define clear drill targets. In addition, regional reconnaissance work will continue to the north and south along the main north-south oriented 'feeder' structure.
Ponte da Barca Gold Project
The Ponte da Barca gold project is located in the very north of Portugal, close to the Spanish border. Klondike completed some limited rock-chip sampling, with 15 samples collected, yielding results from trace to 14.8, 12.9 and 12.0 g/t Au. (These results have not been independently verified by Medgold and are quoted for illustration purposes.)
Medgold has identified gold-bearing veins that are interpreted to strike for lengths of greater than 100 meters. Work is underway to sample both the veins and an extensive alteration halo around the veins, with channel-chip and grid-soil sampling. Results are expected in early Q3 2014.
Mr. David Clark, P.Geo., Consulting Geologist to the Company, is a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Clark has reviewed and approved disclosure of the technical information contained in this news release.
Medgold is aiming to become the leading Mediterranean-focused gold exploration and project development company, with an extensive portfolio and pipeline of projects in Portugal and Spain, targeting economically stressed, but politically stable European countries that are seeking foreign investment to invigorate the mining sector.
ON BEHALF OF THE BOARD
Daniel P. James, President & Director
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
This press release may contain forward-looking statements including, but not limited to, comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, and other related matters. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Medgold's projects in Europe are at an early stage and all estimates and projections are based on limited, and possibly incomplete, data. More work is required before the mineralization and the projects' economic aspects can be confidently modelled. Actual results may differ materially from those currently anticipated in this news release. No representation or prediction is intended as to the results of future work, nor can there be any promise that the estimates and projections herein will be sustained in future work or that the projects will otherwise prove to be economic.
Container technology is shaping the future of DevOps and it’s also changing the way organizations think about application development. With the rise of mobile applications in the enterprise, businesses are abandoning year-long development cycles and embracing technologies that enable rapid development and continuous deployment of apps. In his session at DevOps Summit, Kurt Collins, Developer Evangelist at Built.io, examined how Docker has evolved into a highly effective tool for application del...
Nov. 30, 2015 06:00 AM EST Reads: 382
The Internet of Things is clearly many things: data collection and analytics, wearables, Smart Grids and Smart Cities, the Industrial Internet, and more. Cool platforms like Arduino, Raspberry Pi, Intel's Galileo and Edison, and a diverse world of sensors are making the IoT a great toy box for developers in all these areas. In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists discussed what things are the most important, which will have the most profound...
Nov. 30, 2015 05:30 AM EST Reads: 493
As organizations shift towards IT-as-a-service models, the need for managing & protecting data residing across physical, virtual, and now cloud environments grows with it. CommVault can ensure protection & E-Discovery of your data - whether in a private cloud, a Service Provider delivered public cloud, or a hybrid cloud environment – across the heterogeneous enterprise.
Nov. 30, 2015 05:15 AM EST Reads: 248
Growth hacking is common for startups to make unheard-of progress in building their business. Career Hacks can help Geek Girls and those who support them (yes, that's you too, Dad!) to excel in this typically male-dominated world. Get ready to learn the facts: Is there a bias against women in the tech / developer communities? Why are women 50% of the workforce, but hold only 24% of the STEM or IT positions? Some beginnings of what to do about it! In her Day 2 Keynote at 17th Cloud Expo, San...
Nov. 30, 2015 04:00 AM EST Reads: 606
PubNub has announced the release of BLOCKS, a set of customizable microservices that give developers a simple way to add code and deploy features for realtime apps.PubNub BLOCKS executes business logic directly on the data streaming through PubNub’s network without splitting it off to an intermediary server controlled by the customer. This revolutionary approach streamlines app development, reduces endpoint-to-endpoint latency, and allows apps to better leverage the enormous scalability of PubNu...
Nov. 30, 2015 04:00 AM EST Reads: 347
Apps and devices shouldn't stop working when there's limited or no network connectivity. Learn how to bring data stored in a cloud database to the edge of the network (and back again) whenever an Internet connection is available. In his session at 17th Cloud Expo, Ben Perlmutter, a Sales Engineer with IBM Cloudant, demonstrated techniques for replicating cloud databases with devices in order to build offline-first mobile or Internet of Things (IoT) apps that can provide a better, faster user e...
Nov. 30, 2015 03:45 AM EST Reads: 435
In today's enterprise, digital transformation represents organizational change even more so than technology change, as customer preferences and behavior drive end-to-end transformation across lines of business as well as IT. To capitalize on the ubiquitous disruption driving this transformation, companies must be able to innovate at an increasingly rapid pace. Traditional approaches for driving innovation are now woefully inadequate for keeping up with the breadth of disruption and change facin...
Nov. 30, 2015 03:00 AM EST Reads: 511
Today air travel is a minefield of delays, hassles and customer disappointment. Airlines struggle to revitalize the experience. GE and M2Mi will demonstrate practical examples of how IoT solutions are helping airlines bring back personalization, reduce trip time and improve reliability. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Dr. Sarah Cooper, M2Mi’s VP Business Development and Engineering, explored the IoT cloud-based platform technologies driving t...
Nov. 30, 2015 02:00 AM EST Reads: 446
I recently attended and was a speaker at the 4th International Internet of @ThingsExpo at the Santa Clara Convention Center. I also had the opportunity to attend this event last year and I wrote a blog from that show talking about how the “Enterprise Impact of IoT” was a key theme of last year’s show. I was curious to see if the same theme would still resonate 365 days later and what, if any, changes I would see in the content presented.
Nov. 30, 2015 02:00 AM EST Reads: 448
Culture is the most important ingredient of DevOps. The challenge for most organizations is defining and communicating a vision of beneficial DevOps culture for their organizations, and then facilitating the changes needed to achieve that. Often this comes down to an ability to provide true leadership. As a CIO, are your direct reports IT managers or are they IT leaders? The hard truth is that many IT managers have risen through the ranks based on their technical skills, not their leadership ab...
Nov. 30, 2015 12:00 AM EST Reads: 418
Cloud computing delivers on-demand resources that provide businesses with flexibility and cost-savings. The challenge in moving workloads to the cloud has been the cost and complexity of ensuring the initial and ongoing security and regulatory (PCI, HIPAA, FFIEC) compliance across private and public clouds. Manual security compliance is slow, prone to human error, and represents over 50% of the cost of managing cloud applications. Determining how to automate cloud security compliance is critical...
Nov. 30, 2015 12:00 AM EST Reads: 449
In his General Session at DevOps Summit, Asaf Yigal, Co-Founder & VP of Product at Logz.io, explored the value of Kibana 4 for log analysis and provided a hands-on tutorial on how to set up Kibana 4 and get the most out of Apache log files. He examined three use cases: IT operations, business intelligence, and security and compliance. Asaf Yigal is co-founder and VP of Product at log analytics software company Logz.io. In the past, he was co-founder of social-trading platform Currensee, which...
Nov. 29, 2015 04:00 PM EST Reads: 255
The Internet of Things (IoT) is growing rapidly by extending current technologies, products and networks. By 2020, Cisco estimates there will be 50 billion connected devices. Gartner has forecast revenues of over $300 billion, just to IoT suppliers. Now is the time to figure out how you’ll make money – not just create innovative products. With hundreds of new products and companies jumping into the IoT fray every month, there’s no shortage of innovation. Despite this, McKinsey/VisionMobile data...
Nov. 29, 2015 02:00 PM EST Reads: 488
Just over a week ago I received a long and loud sustained applause for a presentation I delivered at this year’s Cloud Expo in Santa Clara. I was extremely pleased with the turnout and had some very good conversations with many of the attendees. Over the next few days I had many more meaningful conversations and was not only happy with the results but also learned a few new things. Here is everything I learned in those three days distilled into three short points.
Nov. 29, 2015 01:00 PM EST Reads: 358
DevOps is about increasing efficiency, but nothing is more inefficient than building the same application twice. However, this is a routine occurrence with enterprise applications that need both a rich desktop web interface and strong mobile support. With recent technological advances from Isomorphic Software and others, rich desktop and tuned mobile experiences can now be created with a single codebase – without compromising functionality, performance or usability. In his session at DevOps Su...
Nov. 29, 2015 12:45 PM EST Reads: 423