It looks set to be the month of the first-time winners on the European Tour. The latest new face to make his mark is Argentina's Daniel Vancsik, who after a flawless 68 will take a four-stroke lead into the final round of the Madeira Islands Open.

If the 30-year-old goes on to win he will join South African Anton Haig, China's Liang Wen-chong and Thai golfer Chapchai Nirat in tasting maiden success on the circuit in March.

Vancsik, who in his first full season in Europe last year did not manage a single top-10 finish in 25 starts, stands on the 14 under par total of 202, with Dane Mads Vibe-Hastrup 10 under and Frenchman Christian Cevaer one further back.

Vibe-Hastrup, who also returned a 68, is chasing his first victory as well.

Cevaer, Spanish Open champion three years ago, resumed only one behind Vancsik, managed only a level par 72, as did Spain's Santiago Luna to slip into a tie for fourth with Scot Euan Little on eight under, six behind.

England's Kenneth Ferrie and Welshman Bradley Dredge, both of whom make their Masters debut on Thursday week, have failed to make their presence felt.

Ferrie, who qualified for Augusta by finishing sixth at the US Open last June and shared the lead with Phil Mickelson after three rounds there, crashed to a 78 today and is a massive 20 strokes adrift.

Dredge shot 70, but is still 13 behind.