Bolt Resources PTY has applied to the Portuguese government to prospect for gold as a result of the discovery of gold particles by University of Algarve scientists, who were studying sediments in the river estuary in the area of Castro Marim.

The company will be prospecting for gold and silver as well as other valuable deposits like copper, zinc, lead, tin, tungsten and antimony.

It’s a known fact that precious minerals have been found in many parts of the Algarve region throughout the ages. During Roman times, various precious metal was mined across the Algarve region and up towards the Alentejo, alongside other useful metals such as tin and copper.

The search will focus on the Alcoutim and castro marim region – covering 576 square kilometers, however it will also focus on the Alentejo district of Mertola.

The scientists also theorized that Monchique might have some hidden reserves of gold and silver as well, but they wanted to emphasize that there is no evidence of large deposits of the metals.

This discovery of small gold particles happened back in 2007, but the company has only decided to explore the possibility this year.

Jose Estevens – the Mayor of Castro Marim – wasn’t aware of the Bold Resources plan so he wasn’t able to comment on the fact, but he did know about it after reading the official government publication and said that the initiative would be a benefit to the region.

The application for prospecting is subject to a 30-day waiting period in which time interested parties will be able to lodge objections or submit preferential rights to the Direção de Serviços de Minas e Pedreiras da Direção-Geral de Energia e Geologia in Lisbon.

Divers from the Divers Cape centre in Sagres managed to trace the remains of a wreck that they believe to be the 17^th century boat of Pedro Diaz. They also say that this wreck was varying gold when it was shipwrecked in the port of Baleeira, in 1608.

The divers were assisted by Spanish archaeologists who came with a bunch of specialist equipment, and together they were able to confirm the presence of large ancient oak fragment and metal bolts on the sea floor, thus supporting the idea that there are indeed the remains of Pedro Diaz’s craft.

It should be noted that the discovery correlates with archives that offer details related to the sinking of boats, Spanish or otherwise, over many centuries in or near Baleeira.

The boat’s name is unknown, but it is known to have been carrying gold and other precious metals as contraband.

Over the years, different gold objects washed ashore on the beach in the area near Baleeira, for instance in 1617, three gold bars were found, and then in 1625 another piece of gold was discovered.

The remains lie in sand at a depth of twelve meters, and it is feasible that other gold relics might be buried there, possibly further down.

The discovery has been reported to the proper authorities and the divers are awaiting confirmation of the identity of the find.

Obviously this isn’t the type of thing that you’ll be engaging in while on your trip to the region, but it does help to better accentuate that with the help of some Algarve car hire services, you can dive all around the coast at your will.