Exploration in Romania
The Company has acquired two new prospecting licences totaling some 475km² in Romania which cover two distinct areas. The first area is a western extension from Certej covering some 338km² and is adjacent to the well-known Brad mines, which have produced as much as 20 million ounces of copper-gold according to historic records and were operated by the Romanian state until 2006. The second area covers some 137km² and includes the Deva copper gold porphyry and the Muncel-Vetel massive sulphide deposits. The Deva porphyry was operated by the Romanian state at an indicated gold grade of 0.5 g/t gold and 0.7% Cu.
- Total licence area = 534km²
- Pursuing new opportunities in Certej-Brad belt
- Plan to step out exploration over satellite resources to investigate strike and down dip potential
- Aim to generate high quality targets that represent significant mineralised systems
- Drill testing in 2010
