MVC Medavinci

 

TIDMMVC 
 
RNS Number : 6350X 
Medavinci PLC 
09 December 2010 
 

                                  Medavinci Plc 
 
                        Update on Deli Jovan Gold Project 
 
Further to the announcement on 3 December 2010, the Board is pleased to announce 
that the Company has initiated its exploration programme aimed at demonstrating 
down-dip and lateral extensions to the historic high grade mesothermal lode gold 
mines at Rusman and Gindusa, as well as the discovery of new gold zones along 
the 10km Deli Jovan trend. 
 
A services contract agreement was signed with SEE d.o.o, Orogen Gold's joint 
venture partner on the Deli Jovan project, whereby SEE d.o.o. will provide 
geological and administrative services to the joint venture. In addition a 
contract has been agreed for the submission of a plan to the Serbian Mining 
Ministry for the re-opening of the two former mines to facilitate detailed 
underground structural mapping and close-spaced channel sampling. 
 
The start of the re-opening is planned for February 2011. SRK Consulting has 
been engaged to provide advice on the re-opening of the old mines and input on 
the economic parameters for development of a future gold mine. Trial surface 
trenching will be carried out across the Rusman gold lode to obtain shallow 
information on the structure and grade of the gold system at surface. It is 
planned to extend the surface bedrock sampling programme subject to the 
satisfactory outcome of the initial programme. 
 
In order to test the potential of the extensive Deli Jovan gold trend detailed 
soil geochemical sampling is planned to commence this month and 2,500 samples 
will be collected over a six-week period in the area between the Rusman and 
Gindusa mines, subject to weather conditions. Results are expected by February 
2011. 
 
The Board intends to invite John Barry, Ed Slowey and Alan Mooney, all directors 
of Orogen Gold Limited, to join the Board in the New Year, at which point a 
further announcement will be made. 
 
Dr. Deirdre Lewis, PGeo, EurGeol of SLR Consulting Ireland has advised Zeus 
Capital on the technical information in this release. 
 
 
For further information please contact: 
 
Medavinci Plc 
Adam Reynolds 
Tel: +44 (0) 207 245 1100 
Paul Foulger 
 
Zeus Capital Limited 
Nominated Adviser and Joint Broker 
Ross Andrews 
Tel: +44 (0)161 831 1512 
Tom Rowley 
 
XCAP Securities Plc 
Joint Broker 
John Grant                                                        Tel: +44 (0) 
207 101 7070 
Karen Kelly 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 TSTTPBRTMBJMBIM 
 

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