October 19 (SeeNews) - Canadian exploration and development company Euro Sun, formerly known as Carpathian Gold, said on Wednesday it has been granted a new prospecting permit in west-central Romania.
The permit, issued by Romania's National Agency for Mineral Resources, ANRM, is for the Stanija area, located about 3 km east of the company's Rovina Valley existing mining perimeter.
"The Stanija property covers 42 square km in the highly prolific Golden Quadrilateral mining district in the South Apuseni mountains. The permit is valid for three years and exploration work will begin immediately," Euro Sun Mining said in a press release.
Based on results from its historical work in the area, Euro Sun said it has already identified several exploration targets within the two target areas.
Euro Sun will conduct discrete soil geochemistry on these target areas with detailed surface mapping, rock chip sampling, and additional geophysics.
"The prospectivity of the Stanija area is enhanced by its proximity to our Rovina Valley Project for which a feasibility study is planned in 2017," Euro Sun Mining president and CEO, G. Scott Moore, said.
Euro Sun is a Toronto Stock Exchange-listed mining company focused on the exploration and development of its 100%-owned Rovina Valley gold and copper project, which hosts the second largest gold deposit in Europe, with measured and indicated mineral resources of 10.84 million ounces of gold equivalent, according to Euro Sun's data.
The company first started extensive exploration in the Stanija area after Romania's modern mining law became effective, in 1998. Initially, works were carried out between 2000 and 2004 through European Goldfields, and then in 2007 through its subsidiary, SAMAX Romania.
Formerly known as Carpathian Gold, Euro Sun Mining changed its brand identity in September 2016.