Europe-focused gold explorer Medgold Resources (CVE:MED) expects final results from drilling at the Lagares project in Portugal this month (June), it said, in its latest quarterly results.
The firm's first programme in Portugal kicked off in March, in partnership with Centerra, bidding to test mineralisation found from sampling at the Castromil and Serra da Quinta prospects.
It's been a busy few months at the firm, which holds seven licences covering over 1,000 sq m in Portugal.
Also in March, it inked an agreement with Turkish firm Koza, where the Turkish company has been granted an option to acquire up to a 75% interest in Medgold's Boticas gold project in northern Portugal.
At the tail end of last year, the firm also granted Central Asia focused Centerra Gold an option to acquire 70% of its Valongo Belt property in northern Portugal.
In keeping with an exploration company at this stage, the loss for the three months to end March was $324,399 compared to $749,177 in the comparable period last year.
Cash as at March 31 stood at $734,297 compared to $798,641 in the same period in 2014.