お知らせ • Feb 10
Euro Sun Mining Inc. Provides the Results of Its Optimized and Updated Definitive Feasibility Study on the Colnic and Rovina Open Pits - the Initial Phase of Development of Its Rovina Valley Gold and Copper Project in Romania
Euro Sun Mining Inc. provided the results of its optimized and updated Definitive Feasibility Study (“DFS”) on the Colnic and Rovina open pits - the initial phase of development of its Rovina Valley Gold and Copper Project (the “Rovina Valley Project”) in Romania, one of Europe’s gold-copper development projects. Euro Sun is dedicated to the responsible development of the Rovina Valley Project, which may become an important source of strategic metals within the European Union. The optimized and updated DFS for the Rovina Valley Project continues to focus on responsible mining procedures including, dry stacking, continuous revegetation, and a cyanide free processing facility. The enhanced project benefits from positive geotechnical study results, reducing waste removal and strip ratios, driving a 9% increase in gold production and a 41% increase in pre-tax NPV. The DFS also incorporated updated cost estimates and metal price assumptions. Euro Sun is incorporating strong responsible mining procedures into every aspect of the project and is utilizing a phased development approach for the Rovina Valley Project. The Rovina Valley Project consists of two open pit gold-copper deposits, Colnic and Rovina, and the underground Ciresata gold-copper deposit. The Ciresata underground deposit is expected to be phased in following the completion of the Colnic and Rovina pits, assuming future mining studies are completed, and positive results are obtained. The Rovina Valley Project is situated in the Hunedoara County of Transylvania in western – central Romania. The Rovina Valley Project consists of three deposits, Rovina to the North, Colnic Central and the Ciresata deposit to the south. The DFS only incorporates the Rovina and the Colnic deposits and does not include the Ciresata deposit, which the Company expects will be brought into the project for development later, assuming future mining studies are completed, and positive results are obtained. The Rovina exploration licence is held by Samax Romania S.R.L., a Romanian registered company which is a wholly owned subsidiary of ESM. Since November 2018, ESM possesses an exploitation permit and mining licence with a renewable 20-year validity. The Colnic and Ciresata deposits are described as gold-copper porphyries while the Rovina deposit is termed a copper-gold porphyry. All three of these deposits are located such that they can access a central processing plant. The Rovina Valley Project processing facility is being designed to produce a gold and copper concentrate from the Colnic and Rovina deposits. The Rovina Valley Project is within the Golden Quadrilateral Mining District of the South Apuseni Mountains, an area with a history of mining dating back to Roman times. This has supported the development of excellent infrastructure including rail, power and paved access roads. In addition, there are two international airports less than 180km from the project location. These being in the cities of Timisoara and Sibiu. The town of Brad is within 5km of the project site from where there will be a good source of local skilled labour. Sourcing the right skills and resources locally supports ESM community upliftment opportunities. The Rovina Valley Project is expected to be mined with a standard open-pit mining method using rigid dump trucks and hydraulic loaders. The open pit mining operation is anticipated to last approximately seventeen years, during which the lower-grade material will be stockpiled if possible, for treatment at the tail end of mining operations. Over the life of the project, it is expected that 140.0 Mt of ore will be mined. Of this ore, 123.3 Mt will be delivered to the processing facility and 16.7 Mt low grade ore stockpiled where possible for future processing. In aggregate, over the life of the mine, a total of 203.1 Mt of material will be mined and placed on the waste facility, representing a life of mine stripping ratio of 1.45:1. Knight Piésold have advanced the design of a waste management facility within the project area for the co-deposition of waste rock and filtered rougher tailings. Process plant rougher tailings will be filtered in the plant where the resultant filter cake will be transported by conveyors and will be co-mingled with waste rock prior to deposition. The cleaner tails will be filtered separately from the rougher tailings and the resultant filter cake will be transported by conveyors and deposited separately within a lined zone contained within the boundary of the co-mingled facility. This design has been engineered to reduce the risk of development of impacted seepage from potentially acid generating waste rock and capture the impacted seepage from the cleaner tailings. After completion of mining the Colnic pit, the waste rock and rougher tailings will be preferentially backfilled into the Colnic pit, while the cleaner tails will continue to report to the lined zone of the waste management facility. The updated DFS has been completed based upon the development of the Colnic and Rovina pits only. Further developing and treating the resource at Ciresata could further extend the life of the operation while utilising the infrastructure and processing capabilities anticipated to be in operation for the Rovina and Colnic deposits. The Company is currently completing the draft of the Planul Urbanistic Zonal (PUZ, Urban Zoning Plan) and expects to file with the County of Hunedoara in the coming weeks. It is expected to have the public audience on the draft plan sometime in early Q2, 2022 with final submission and approval of the PUZ in Third Quarter 2022. Once the PUZ has been approved, submittal of the notification to complete the Environmental Impact Assessment (EIA) procedure will be filed with the Ministry of Environment. New eligibility requirements have been introduced by the London Stock Exchange and the Company is reviewing the new rules to determine the appropriate timing for moving ahead with a listing. Once the Updated Definitive Technical Report is filed the Company will have six months to complete the application to list on the London Stock Exchange. The mineral reserve estimate stated in this press release have been reviewed and approved by Mr. David Alan Thompson (ECSA No. 201190010), Principal Mining Engineer for DRA Projects (Pty) Ltd, who is an independent Qualified Person as defined by National Instrument 43-101. Mr. D Thompson was responsible for the mineral reserve estimate of the RVP Feasibility Study that supports this press release.