SEG 45 Final_qx4 - Society of Economic Geologists
SEG 45 Final_qx4 - Society of Economic Geologists
SEG 45 Final_qx4 - Society of Economic Geologists
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OCTOBER 2005 • No 63 <strong>SEG</strong> NEWSLETTER 35<br />
ROMANIA<br />
European Goldfields Limited completed<br />
in-house prefeasibility study on<br />
its 80%-owned Certej project; measured<br />
and indicated resources total 31.4 Mt at<br />
2.1 g gold and 11 g silver for a total <strong>of</strong><br />
2.2 Moz Au and 11 Moz Ag. Pit optimization<br />
shows 22.6 Mt grading 2.0 g<br />
gold and 11.7 g silver with an average<br />
strip ratio <strong>of</strong> 2:1, with a projected 2.5 Mt<br />
per annum over approximately nine<br />
years. European seeks additional<br />
peripheral higher-grade mineralization<br />
at its nearby Cainel license where surface<br />
and underground sampling shows<br />
1 to 14 m <strong>of</strong> 1–5.6 g Au in north-south<br />
veins and breccias.<br />
Carpathian Gold Inc. (CG)<br />
announced metallurgical results from<br />
SGS-Lakefield Research from two samples<br />
from Baiut Au in Baia Mare (0.341<br />
Mt <strong>of</strong> 4.75 g Au) which returned 95.3%<br />
and 93.0% Au recovery utilizing biooxidation<br />
and cyanide leaching; CG<br />
will consider similar recovery tests on<br />
ore previously considered refractory<br />
from Baia Sprie. Recoveries by State<br />
Mining Company REMIN, via conventional<br />
sulfide floatation, showed results<br />
<strong>of</strong> 95.5% and 97.4%.<br />
CG’s programs on Oravita Cu-Au,<br />
southwest Romania, defined drill targets<br />
along the 3.5-km-long “Talva Trend”<br />
Cu-Au soil anomaly, including a 1,500m<br />
length at Talva Mica, where 26 <strong>of</strong> 52<br />
grab samples showed from 0.4% to 4.2%<br />
Cu and 0.11 to 4.41g Au. Mineralization<br />
is hosted by interbedded hornfels and<br />
calc-silicate skarn, and altered quartzdiorite<br />
porphyry and hornfels. The<br />
underground historic Talva Mica zone is<br />
50 to 70 m wide, 300 m in length and<br />
open along strike; previous intersections<br />
include 12 m <strong>of</strong> 2.76% Cu to 10 m <strong>of</strong><br />
5.10% Cu and 2 m <strong>of</strong> 7.87% Cu, 0.20%<br />
Mo. None <strong>of</strong> the underground samples<br />
were assayed for Au.<br />
At CG’s Carbunari-Stinapari<br />
prospect, 25 km south <strong>of</strong> Oravita,<br />
trenching and mapping define a 3.5km-long<br />
belt <strong>of</strong> jasperoid containing 1<br />
to 15.1 g Au and an associated gold-insoil<br />
anomaly within limestone and calcareous<br />
siliciclastic sediments; a 2,000to<br />
3,000-m drilling is planned to test for<br />
Carlin-style Au mineralization.<br />
Gabriel Resources Ltd received terms<br />
<strong>of</strong> reference for the Rosia Montana EIA;<br />
the EIA is now being compiled to meet<br />
the terms <strong>of</strong> reference and is planned to<br />
be submitted in early 2006.<br />
At Bucium/Rodu-Frasin, a February<br />
2005 resource estimate at 0.6 g Au<br />
cut<strong>of</strong>f contains indicated resources <strong>of</strong><br />
7.95 Mt at 1.91 g Au and 5g Ag, and an<br />
inferred resource <strong>of</strong> 9.29 Mt <strong>of</strong> 1.70 g Au<br />
and 5 g Ag at Frasin, and an inferred<br />
resource <strong>of</strong> 26.08 Mt at 0.97 g Au and 2<br />
g Ag at Rodu, totaling 1 Moz Au at<br />
Frasin area and 813,000 oz Au at Rodu.<br />
New exploration licenses were<br />
granted in Apuseni Mountains to<br />
Valhalla Resources and Carpathian<br />
Gold.<br />
SERBIA-MONTENEGRO<br />
Eurasian Minerals announced an Aupolymetallic<br />
intercept from Brestovac<br />
target, south <strong>of</strong> the historic Bor district,<br />
where their 296.8-m core hole followed<br />
up on results from 1970-era drilling. An<br />
interval <strong>of</strong> 22.40 m <strong>of</strong> 4.51g Au<br />
included 2.95 m <strong>of</strong> 25.83 g Au; two<br />
lower intervals each contained 7 to 8 m<br />
<strong>of</strong> 0.4–0.5 g Au. Cu-Zn mineralization<br />
was intersected as well, notably 4.30 m<br />
<strong>of</strong> 2.07% Zn, 0.11% Cu and 0.40 g Au.<br />
A range <strong>of</strong> companies participated in<br />
the Serbian government’s tenders on<br />
Cu-Au exploration targets in the West<br />
Timok district, covering the western<br />
margin <strong>of</strong> the prolific Timok Magmatic<br />
Complex which hosts Bor.<br />
MACEDONIA<br />
Sirius Exploration Plc completed AIM<br />
listing based on its agreement with<br />
Phelps Dodge on the Kadiica and<br />
Osogovo porphyry Cu-Mo targets, and<br />
currently funds drill programs on both.<br />
Sirius aims to expand a chalcocite blanket<br />
identified at Kadiica as well as test<br />
for underlying hypogene mineralization;<br />
at Osogovo, further exploration<br />
will test an extensive stockwork Cu-Mo<br />
system which forms the center <strong>of</strong> the<br />
large Sasa-Toranitza Pb-Zn-Ag skarnmanto<br />
deposit.<br />
IBERIA<br />
Rio Narcea, on its Salave Au project,<br />
announced 1.5 Moz Au at a grade <strong>of</strong><br />
3.0 g. Salave is a disseminated, intrusion-related<br />
deposit hosted in a granodiorite;<br />
gold occurs in subhorizontal to<br />
gently west dipping irregular lenses in<br />
an area <strong>of</strong> 350 × 300 m.<br />
IRELAND<br />
Tournigan Gold followed up on previous<br />
expansions <strong>of</strong> the No. 1 vein at<br />
Curraghinalt Au (1.32 m <strong>of</strong> 66.95 g Au<br />
at 390 m, announced previously).<br />
SLOVAKIA<br />
Tournigan Gold drilled its Brehov VMS<br />
target, and their shallow holes in a 600m-wide<br />
mineralized zone previously<br />
identified and drilled by the Slovak geologic<br />
survey, returned up to 15 m <strong>of</strong><br />
2.6% Pb, 0.3% Zn, 0.5 g Au, and 40 g<br />
Ag in reported Kuroko-type VMS mineralization.<br />
Tournigan continues exploration<br />
at the Kremenica low-sulfidation<br />
Au-Ag target.<br />
FINLAND<br />
Dragon Mining NL will open two gold<br />
mines at Vammala in southwestern<br />
Finland. About 300,000 t ore will be<br />
mined per year at about 8 to 11 g Au.<br />
Production will start in late 2005 from<br />
the underground at Orivesi mine and<br />
from two small open cuts at the new<br />
Jokisivu mine. Stage 2 will develop an<br />
underground mine at Jokisivu. Prior to<br />
going underground at Jokisivu, a sixmonth<br />
drilling program will allow<br />
detailed underground design and financial<br />
study. Stage 3 will develop deeper<br />
ore zones at Jokisivu at and below 400<br />
m level.<br />
Agnico-Eagle Mines Ltd has <strong>of</strong>fered<br />
to buy all the outstanding shares <strong>of</strong><br />
Riddarhyttan Resources AB not currently<br />
owned by Agnico-Eagle.<br />
Riddarhyttan is the 100% owner <strong>of</strong><br />
Suurikuusikko Au, northern Finland,<br />
where the resource is now 2.5 Mt @ 6.2<br />
g Au measured, 9.3 Mt @ 5.1 g Au indicated,<br />
and 12.5 Mt @ 4.2 g Au inferred<br />
ore, totaling 3.73 Moz gold. Northern<br />
Lion Gold reports a new gold-rich lode<br />
from the old mine site <strong>of</strong> Haveri in<br />
southwestern Finland, with drill intercepts<br />
from 2 m @ 116.9 g to 44.5 m @<br />
1.3 g Au. Taranis Resources Inc reports<br />
a new lode at its Kettukuusikko<br />
prospect in Lapland, with intercepts at<br />
1.8 m @ 27.7.g and 0.4 m @ 111g gold.<br />
North American Gold Inc has been<br />
granted 12 exploration leases in northwest<br />
Finland, now nearly completely<br />
holding the iron oxide-copper-gold<br />
Kolari belt; the company also holds<br />
ground in nearby Sweden, in obvious<br />
continuation <strong>of</strong> the Kolari belt.<br />
In PGM, Gold Fields Ltd announced<br />
downgrade <strong>of</strong> its Arctic platinum project,<br />
and will assess the viability <strong>of</strong> a<br />
high-grade PGM, smaller-scale operation<br />
rather than large-scale mine.<br />
In the base-metals sector, Vulcan<br />
Resources Ltd more than doubled the<br />
resource <strong>of</strong> the<br />
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EXPLORATION REVIEWS