In May 2016, the Company announced the wholly owned Portuguese subsidiary, Scotgold Resources Portugal Ltda was granted an exploration licence for 3 years (with an option to extend) in eastern central Portugal, near Castelo Branco. The Pomar licence covers 264 km2 and includes the historic antimony (with gold) mines of das Gatas, Pomar and Casalinho, in addition to numerous small scale antimony trials and occurrences. These small high grade mines were active during the 1940’s producing antimony concentrate with associated gold. Some tungsten mineralisation has been identified in the licence area.
Re-evaluation of the mineralisation by the Company has indicated there may be two separate mineralising events, an early antimony and later gold-tungsten event. This opens up the potential for undiscovered gold prospects in zones with quartz-only mineralisation given previous exploration efforts have focussed on antimony mineralisation in the region.
The initial exploration program for the Pomar licence area will consist of historical data collection & analysis, a mapping program and a soil sampling assay program. There is significant historical data available from previous exploration companies, including Biliton and Indumetal, comprising assay results and geophysical data. The Company intends to access and evaluate the historical data available in the licence area to aid further exploration efforts.