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Euro Sun Mining Inc.
Summary
| Project: | Rovina | |
|---|---|---|
| Deposit: | Rovina | |
| Location: | Romania | |
| Commodities: | Gold-Copper | |
| Date: | 2/20/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 20-2-2019: Euro Sun Mining Inc. announces a PEA report for its Rovina deposit at the Rovina project. PEA results incl. post-tax NPV of US $168.8M (5%), IRR of 13.5%, 12yr LOM at the project. TORONTO, Feb. 20, 2019 -- Euro Sun Mining Inc. (TSX: ESM) (“Euro | |
| Resources: | (Resource, M+I): 396.0Mt @ 0.55g/t Au, 0.16% Cu | |
| CP/QP: | [Resources]: Pierre Desautels, Gordon Zurowski (AGP Mining Consultants Inc.) | |
| ABSTRACT: | TORONTO, Feb. 20, 2019 -- Euro Sun Mining Inc. (TSX: ESM) (“Euro Sun” or the “Company”) is pleased to announce the results of the Preliminary Economic Assessment (“PEA”) for the exploitation of the COLNIC open pit; the initial phase of development of its Rovina Valley gold and copper project (the “Rovina Valley Project”). The Company is applying a staged, multi phase development approach for the Rovina Valley Project. The Rovina Valley Project consists of the COLNIC and ROVINA gold-copper deposits amenable to open-pit development and the CIRESATA gold-copper deposit suitable for underground development. The PEA considers the COLNIC mineral deposit only but does include the processing facilities which will also be used in treating both ROVINA and CIRESATA deposits. Sequencing for the ROVINA open pit and CIRESATA underground mine will be undertaken in a separate study at a later date. The Company is also pleased to provide an updated mineral resource estimate for the Rovina Valley Project incorporating current metal prices and operating parameters. All amounts are in US dollars unless otherwise indicated. Scott Moore, Euro Sun’s CEO states, “The 2019 PEA highlights a positive economic project for our initial phase of development at the Rovina Valley Project. Colnic is an at surface open pit deposit containing only 28.6% of the total measured and indicated resources at the Rovina Valley Project. Colnic will form the foundation of a multi-decade operation with the expectation of bringing the Rovina pit on-line using pre-installed infrastructure followed by the Ciresata deposit.” | |
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