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Friday 08 February, 2013

Legendary Invest PLC

Medgold Resources Corp update

RNS Number : 4815X
Legendary Investments PLC
08 February 2013
 



8 February 2013

 

Legendary Investments PLC

("Legendary")

 

Update - Medgold Resources Corp Secures Exclusive Option on

two Portuguese Gold Exploration Licenses Identifying Significant Potential

 

Legendary is pleased to announce that its investee company, Medgold Resources Corp. (TSX-V: MED), the European focused gold exploration company, has secured the exclusive option on two highly prospective Portuguese exploration licenses; Boticas and Vila de Rei, covering areas of 100 and 300 sq km, respectively.

 

Previous drilling at Boticas reported intersections of 40.2m at 1.96 g/t Au (including 20.4m at 2.92 g/t Au) and 50.05m at 1.70 g/t Au (including 19.7m @ 2.80 g/t Au). This is combined with surface sampling which has yielded results up to 204 g/t Au in quartz veinlets. Boticas has received 3,234 metres of historical diamond drilling at key prospect, which is only one of 15 soil geochemical anomalies, as identified by historical grid-soil sampling.

 

The Vila de Rei licence area includes 40 line km of a principal regional structure, and comprises four geochemical anomalies, the largest of which extends over 3 km and yielded rock grab sampling results of 24.72, 22.85 and 19.24 g/t Au.

 

These projects are both believed to have multi-million ounce potential with Boticas having similar geology to the world-class Fort Knox gold deposit in Alaska.

 

More information is available at http://www.newswire.ca/en/story/1109399/medgold-secures-exclusive-option-on-two-portuguese-gold-exploration-licenses-identifying-significant-potential 

For further information, please contact:

Contact:



Legendary Investments Plc

Zafar Karim / Thomas Reuner

 

020 8201 3536

Grant Thornton Corporate Finance

 

Colin Aaronson/ Melanie Frean / Jen Clarke

 

020 7383 5100

Simple Investments                

Nick Emerson/ Andrew Thacker

01483 413500

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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