Location & Access
The Rovina Valley Project covers 27.68 km² in west-central Romania, approximately 300 km northwest of the capital city of Bucharest. This historic mining district known as the “Golden Quadrilateral” is one of the largest gold-producing areas in Europe where it is estimated that more that 55 Moz of gold have been produced since the Roman period (ca 2000 yrs ago).
The Rovina Valley property is accessible year-round via a paved two-lane highway from the historic gold mining town of Brad followed by secondary paved roads which pass through the town of Criscior and onward to the village of Bucureşci.
The Measured & Indicated mineral resources of 10.84 million ounces of gold equivalent (see details related to the mineral resource HERE) are based on three (3) porphyry deposits that define a north-northeast trend over a distance of 7.5 km. The Rovina Porphyry is the northern-most deposit, followed by the Colnic Porphyry, and the Ciresata Porphyry located the furthest south.
In November 2018, the Mining License for the Rovina Valley Project granted to SAMAX Romania srl (100% owned by Euro Sun Mining), was fully approved by six senior cabinet ministers and the Prime Minister of Romania.
This license secures the mineral tenure and allows the Company to begin the formal Environmental Impact Assessment and Urbanization Certificate, both of which are currently in progress.
In addition to key permitting activities, the Company is completing an optimized mine plan which will form the basis of a new PEA, expected to be completed by the end of Q1 2019. This study will be further developed into the Bankable Feasibility Study targeted for completion by year-end.