Euro Sun’s discoveries near Rovina Valley, Romania

MINEX Forum | November 11, 2019 | Views: 32 | Source: Mining SEE

Euro Sun Mining announced the surface generative exploration results from the Stanija Prospecting Permit directly adjacent to its Rovina Valley Gold project in Romania. Any mineralization defined on the Stanija PP could have synergies for mine development on the Rovina License as envisioned in the NI 43-101 Preliminary Economic Assessment Study released by the Company on February 20, 2019.

Euro Sun has compiled historic surface exploration work completed on the Stanija PP, which covers 42 square kilometres, comprised of state-geologic survey mapping, soil sampling and rock chip sampling. In addition, Euro Sun has completed further soil sampling extension and infill grids, systematic litho-geochemistry sampling, and detailed geology-alteration mapping.

Euro Sun reconnaissance rock chip sampling and grab sample assay results indicated the presence of porphyry-style gold– copper mineralization and gold epithermal vein-style mineralization. Examples include sample CS-10193 with 1.39 g/t Au and 0.34% Cu porphyry style occurrence and sample CS-10104 with 25.9 g/t Au and 0.005% Cu epithermal vein style occurrence. Compilation of historic and Euro Sun’s soil sampling programs which cover approximately 80% of the Stanija PP, defines four porphyry targets and one broad zone with epithermal characteristics. A cluster of three porphyry targets (1.5 km apart from each other) occur 6 km east from the Colnic Au-Cu porphyry deposit on the Rovina Mining License.

Porphyry Targets: Defined by ‘bulls-eye’ shaped soil geochemistry anomalies comprised of coincident Au-Cu and molybdenum. Litho-geochemistry traverses through these anomalies confirm the porphyry signatures with anomalous gold, copper and molybdenum. In addition, detailed geologic mapping defines discrete potassic alteration zones within broader phyllic alteration halos.

Epithermal Targets: In the eastern part of the Stanija PP, a broad zone of anomalous gold-in-soils covers 1800 meters x 2200 meters. This is partly coincident with a low-level copper-in-soils anomaly and includes known epithermal vein occurrences at Muncaceasca. This broad gold and copper geochemistry anomaly is adjacent to the Popa Stanija porphyry target.

Further work by Euro Sun will compile and interpret historical drilling and underground sampling results from previous license holders and Euro Sun’s work to develop exploration target size potential and grade tenor.

Stanija prospecting permit background

The Stanija PP covers 42 sq-km and includes approximately 75% of the Zlatna – Stanija volcanic belt which lies between the Rovina-Barza-Certej volcanic belt to the west and the Rosia Montana-Bucium Volcanic belt to the north east. These three Neogene volcanic belts comprise the Golden Quadrilateral of the South Apuseni Mountains and is known for its occurrences of large-scale epithermal gold and porphyry Copper-Gold deposits. Euro Sun was granted the Stanija Prospecting Permit from the National Agency for Mineral Resources of Romania (NAMR) in September 2016.

“Our team has worked diligently over the past three years on the Stanija prospecting license to determine the discovery potential adjacent to our Rovina Valley Project. Early field work included soil geochemistry, field mapping and selected grab samples and trenching. We look forward to the initiation process by NAMR for the exclusive exploration license which is expected to occur in early 2020,” Scott Moore, Euro Sun’s CEO states.

Environmental Impact Assessment Awarded to ERM

Euro Sun Mining has awarded the Environmental Impact Assessment for the Rovina Valley Project to ERM Environmental Resources Management, based in Bucharest (Romania) for the ten million-ounce Rovina Valley Project in accordance with the mining license granted by the Romania Government in November 2018.

ERM is a leading global provider of environmental, health, safety, risk, social consulting services and sustainability related services. ERM operates more than 160 offices in over 40 countries and territories employing more than 4,700 professionals.

ERM has delivered over 500 projects in Central and Eastern Europe with over 20 relevant permitting and EIA projects in Romania alone. Their Romania clients include international corporations such as OMV Petrom, Hunt Oil, ExxonMobil, Lukoil and Chevron. They have also concluded several projects for mining clientele in the region such as Rio Tinto, Lundin Mining and Dundee Precious Metals.

“We are pleased to have engaged such a professional and globally recognised firm to assist in completing our EIA process and one that has extensive experience working in Romania in particular and is certified by the Ministry of Environment for production of all types of environmental studies,” Scott Moore, Euro Sun’s CEO states.

ERM will support Euro Sun’s 100% owned Romanian subsidiary, Samax Romania, in the preparation of the Notification, public announcements and Environmental Report for re-zoning, in line with the Strategic Environmental Assessment Directive, which came into force under Romanian legislation by Government Directive 1076/2004.

ERM will also provide support during the permitting procedure, including participation to the Special Committee and Working Groups and support during the public hearing until Euro Sun has obtained the environmental approval for rezoning. Additionally, ERM will support the preparation of the Notification, Presentation Memorandum and Environmental Impact Assessment, in line with the EIA Directive, which came into force under Romanian legislation by Law No 292/2018. ERM will provide support during the permitting procedure including participation to the Technical Analysis Committee meetings and support during the public hearing until the company has obtained the Environmental Agreement for construction. ERM and Samax hope to complete both SEA and EIA processes within the next twelve months.

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