8 Feb 2013 10:00
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 |