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Romania
Rovina Valley Project

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 Location:
10 km E from Brad, Romania

  Project Contacts:
Str. Moldovei 15, Ap. 1
Baia Mare
Romania
430252
Phone  ...  Subscription required
WebsiteWeb
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Overview

StagePermitting
Mine TypeOpen Pit
Commodities
  • Gold
  • Copper
Mining Method
  • Truck & Shovel / Loader
Processing
  • Flotation
Mine Life12.1 years (as of Jan 1, 2019)
Rovina is the second largest gold deposit in Europe holding measured and indicated mineral resources of 7.2 million ounces of gold and 1.4 billion lbs of copper.
Latest NewsEuro Sun Announces Robust Definitive Feasibility Study for the Rovina Valley Gold-Copper Project in Romania     March 1, 2021


Owners & OPERATOR

Source: p. 12
CompanyInterestOwnership
Euro Sun Mining Inc. 100 % Indirect
SAMAX Romania SRL. (operator) 100 % Direct
On January 30, 2017, two of the Company’s subsidiaries, Carpathian Gold Limited and Samax Romania Limited, merged. The surviving company is named Samax Romania Limited.
In November 2018, the Mining License for the Rovina Valley Project granted to SAMAX Romania srl (100% owned by Euro Sun Mining).

Deposit Type

  • Porphyry
  • Vein / narrow vein


Summary:

Each of the Rovina, Colnic, and Ciresata porphyries share many basic geologic-mineralization attributes. These include association with both subvolcanic intrusives of similar composition and similar alteration suites. The mineralized porphyries at Rovina, Colnic, and Ciresata display moderate to intense potassic hydrothermal altered cores, and strong quartz stockwork veining. The Au-Cu mineralization manifests as stockwork veining and disseminations of pyrite and chalcopyrite, centred on porphyritic, subvolcanic-intrusive complexes of hornblende-plagioclase diorites. The Colnic and Ciresata porphyries classify as gold-rich, with the Rovina porphyry falling within the Cu-Au subtype. All three porphyries contain many of the features common in gold-rich porphyries[i.e. dioritic, calc-alkaline stock associated and abundant magnetite alteration (Sillitoe, 2000)].

Geometry of the mineralization and host porphyries is different for each of the deposits. At Rovina, the host porphyries are generally cylindrical and vertical. At Colnic, the porphyries are lobate, with mineralization decreasing with depth and a phyllic-altered cap locally preserved. Both Rovina and Colnic porphyries intrude extensive igneous- magmatic breccia carapaces, whereas Ciresata mineralization is centred on a relatively narrow subvolcanic “neck” with a significant amount of mineralization hosted in adjacent hornfelsed sediments.

Copper-gold mineralization at Rovina is hosted in multiple composite plagioclase-hornblende porphyritic subvolcanic intrusives. This mineralization reaches the surface and is exposed in one location as outcrops in the Baroc valley drainage over approximately 300 m. The remaining sparse and scattered outcrops are phyllic-altered fragmental volcanics and porphyritic volcanics, which comprise a mapped phyllic alteration halo of 1,000 x 600 m. The mineralized porphyries are cylindrical and vertical, with mineralization extending up to 600 m below surface. At least three mineralized porphyries are recognized. The main porphyry (Rovina Porphyry) intrudes (or is surrounded by) a brecciated porphyritic unit. This breccia unit is locally mineralized and is interpreted as an intrusive magmatic breccia (IMB) carapace to an upper-level intrusive. The last, post-mineral stage of intrusive activity is the emplacement of a phreatomagmatic breccia complex, which cuts earlier porphyry units and is grade destructive.

Gold-copper mineralization is associated with pyrite-chalcopyrite-magnetite occurring in veinlet stockworks and as finely disseminated grains. Oxidation is restricted to the uppermost few metres, with the exception of a small area in Baroc Valley at the Rovina porphyry where weathering oxidation is 15 to 25 m deep within the copper-gold mineralization. In this area, secondary copper minerals malachite and chrysocolla are observed in the weathering zone, and minor occurrences of supergene copper minerals (chalcocite) occur below the weathering zone, typically associated with short drill hole intervals of elevated copper grades.

Deposit-scale controls to mineralization are the localization of the principal hornblendeplagioclase porphyry intrusion (Rovina Porphyry PoC), which is elongated in a northwesterly direction, measuring approximately 600 m northwest x 350 m northeast. This porphyry has vertical contacts over at least 600 m in depth, and apparently terminates northward in the northeast-trending Baroc Valley zone. Lower-grade copper-gold mineralization extends down the Baroc Valley zone to the southwest, to include the Baroc Valley porphyry as a satellite to the main Rovina porphyry. This intrusive geometry suggests possible northwest structural control for emplacement of the Rovina Porphyry intersecting a northeast structural zone controlling emplacement of the Baroc Valley Porphyry.

Gold-copper mineralization at Colnic is hosted in multiple composite plagioclase-hornblende porphyritic subvolcanic intrusives. This mineralization reaches the surface in the Rovina Valley and is exposed in outcrops and road-cuts in the valley bottom over a distance of approximately 400 m. The remaining sparse and scattered outcrops are phyllic-altered porphyritic volcanics and Cretaceous sediments, and propylitic-altered hornblende andesites. The Colnic deposit has a large phyllic alteration halo covering 2,000 x 1,700 m. Two mineralized porphyry-centres comprise the bulk of the Colnic deposit; one occurring in the Rovina Valley (Colnic Porphyry) which partially outcrops, and a second centred approximately 200 m southeast on F-2 Hill (F-2 Hill Porphyry).

Gold-copper mineralization is associated with pyrite-chalcopyrite-magnetite occurring in veinlet stockworks and as disseminated grains. Oxidation is restricted to the uppermost few metres of the prospect, and no significant oxide cap or supergene-enriched horizons have been encountered to date.

Deposit-scale controls to mineralization consist of the localization of two hornblende-plagioclase porphyry centres; the Colnic porphyry and the F-2 Hill porphyry. The Colnic porphyry occurs in the Rovina Valley, elongated parallel to the northeast-trending valley over an area approximately 400 m long x 200 m wide. This is interpreted as the older porphyry, and its upper part contains the highest grades at Colnic. The centre of the F-2 Hill porphyry complex occurs approximately 150 m southeast of the Colnic porphyry. Interpreted structural controls on the emplacement of these porphyries are the northeast- trending Rovina Valley (as suggested by an inter- mineral dike and breccia swarm in the upper part of the Colnic porphyry) and the northwest-striking Chubby’s Fault/fracture zone (a brittle, post- mineral structure; however, maybe a re-activated older structure, as evidenced by a spatial mineralization association at depth).

Ciresata contains the highest average gold grades in the RVP, with gold-copper mineralization hosted sub-equally in a Neogene subvolcanic ”neck” and adjacent hornfelsed Cretaceous sediments. The subvolcanic intrusion is a relatively coarse- grained hornblende-plagioclase porphyry (Early Mineral Porphyry), with a narrow vertical feeder zone and ”ballooning” at the dipping planar contact between the hornfelsed Cretaceous sediments and an older subvolcanic intrusion (Host Rock Porphyry), approximately 250 m below the present surface.

Gold-copper mineralization at Ciresata is associated with magnetite-pyrite-chalcopyrite occurring in veinlet stockworks and as finely disseminated grains over a wide area of approximately 450 m (NW-SE) by 300 m (NE-SW) and narrowing with depth. Recent deep drilling has intersected mineralization 500 m below previous drilling, suggesting approximately 1,000 vertical metres of mineralization. This mineralization is centered on the Early Mineral Porphyry (EM-P), with approximately 65% hosted in the hornfels sediments (SED) and 35% in the EM-P. In general, grade decreases as a function of distance away from the EM-P-to-SED contact. In the southwest sector of the deposit, SED is the only host, and with the local occurrence of higher grades a deeper mineral porphyry has been postulated but not yet confirmed by drilling.


Mining Methods

  • Truck & Shovel / Loader


Summary:

The PEA concluded that the Colnic deposit could be developed as a phased open pit sending 85.7 Mt of mill feed grading 0.58 g/t Au and 0.10 % Cu to a nearby process facility. This would be done over a 14.1-year mine life which includes two years of pre- stripping.

The deposit will be a conventional truck-and-shovel operation. A mill feed of approximately 20,000 t/d is planned over a 14.1-year project life. There will be pre-strip material in Years -2 and -1, with production ramp-up in Year 1.

Mining will be performed on a bench height of 12 m and the design has safety bench placement every 24m. Two additional phases, with minimum mining width of 60 meters were also completed for production scheduling.

The current design uses a Komatsu HD1500 (150 tonne) haul truck as the largest vehicle traveling on the ramp, with a truck width of 7.6 m. Tire size is based on the 33.00R51, with an overall height of 3.1 m. The calculated operating width for dual lane ramps is 32.1 m, and for single lanes is 24.6 m. These include a 2.5 m ditch for water runoff and snow containment.


Crushing and Grinding


Processing

  • Flotation

Flow Sheet: Subscription required

Summary:

The process plant has been designed for a throughput of 21,000 dry mtpd . The overall flowsheet includes the following steps:

• ROM material fed through a ROM pocket providing 225 t surge capacity, (i.e. 1.5 times the capacity of each truck)
• primary crusher (gyratory) located adjacent to the open pit mine, apron feeder and rope conveyor to the crushed material stockpile located near the process plant
• crushed material stockpile providing a 16-hour live capacity and a 70-hour total surge capacity
• crushed material reclaims pan feeder drawing from the stockpile to a SAG mill feed conveyor feeding the milling circuit
• SAG mill in closed circuit with pebble crushing • ball mill, in closed circuit with hydro-cyclones, to produce a grind size P80 of 75 µm, and an overflow slurry density of 38.5% solids in weight in the direct feed to the flotation circuit • rougher and scavenger flotation
• rougher and scavenger concentrate regrinding
• cleane ........

Recoveries & Grades:

CommodityParameterAvg. LOM
Gold Recovery Rate, %  ......  Subscription required
Gold Head Grade, g/t 0.58
Copper Recovery Rate, %  ......  Subscription required
Copper Head Grade, % 0.1
Subscription required - Subscription is required.

Projected Production:

CommodityUnitsAvg. AnnualLOM
Gold koz 1081,301
Copper M lbs  ......  Subscription required  ......  Subscription required
Gold Equivalent koz  ......  Subscription required  ......  Subscription required
All production numbers are expressed as metal in concentrate.

Operational Metrics:

Metrics
Stripping / waste ratio  ......  Subscription required
Daily ore mining rate  ......  Subscription required
Waste tonnes, LOM  ......  Subscription required
Ore tonnes mined, LOM  ......  Subscription required
Total tonnes mined, LOM  ......  Subscription required
Daily processing capacity  ......  Subscription required
Daily processing rate  ......  Subscription required
Annual processing capacity  ......  Subscription required
* According to 2019 study.
Subscription required - Subscription is required.

Reserves at February 19, 2019:

CategoryOreTypeTonnage CommodityGradeContained Metal
Measured In-Situ (OP) 61.3 Mt Gold 0.98 M oz
Measured In-Situ (UG) 28.5 Mt Gold 0.88 g/t 0.81 M oz
Measured Total 90 Mt Gold 0.62 g/t 1.78 M oz
Measured In-Situ (OP) 61.3 Mt Copper 282.8 M lbs
Measured In-Situ (UG) 28.5 Mt Copper 0.16 % 102.2 M lbs
Measured Total 90 Mt Copper 0.19 % 385.1 M lbs
Measured In-Situ (OP) 61.3 Mt Gold Equivalent 1.6 M oz
Measured In-Situ (UG) 28.5 Mt Gold Equivalent 1.13 g/t 1.03 M oz
Measured Total 90 Mt Gold Equivalent 0.91 g/t 2.63 M oz
Indicated In-Situ (OP) 180.7 Mt Gold 2.25 M oz
Indicated In-Situ (UG) 125.9 Mt Gold 0.74 g/t 3.01 M oz
Indicated Total 307.2 Mt Gold 0.53 g/t 5.26 M oz
Indicated In-Situ (OP) 180.7 Mt Copper 592.1 M lbs
Indicated In-Situ (UG) 125.9 Mt Copper 0.15 % 413.4 M lbs
Indicated Total 307.2 Mt Copper 0.15 % 1,006 M lbs
Indicated In-Situ (OP) 180.7 Mt Gold Equivalent 3.56 M oz
Indicated In-Situ (UG) 125.9 Mt Gold Equivalent 0.97 g/t 3.92 M oz
Indicated Total 307.2 Mt Gold Equivalent 0.76 g/t 7.47 M oz
Measured & Indicated Total 396 Mt Gold 0.55 g/t 7.05 M oz
Measured & Indicated Total 396 Mt Copper 0.16 % 1,391 M lbs
Measured & Indicated Total 396 Mt Gold Equivalent 0.79 g/t 10.11 M oz

Commodity Production Costs:

CommodityUnitsAverage
Credits (by-product) Gold USD  ......  Subscription required *
Total cash costs Gold USD  ......  Subscription required *†
All-in sustaining costs (AISC) Gold USD  ......  Subscription required *†
Assumed price Copper USD  ......  Subscription required *
Assumed price Gold USD  ......  Subscription required *
* According to 2019 study / presentation.
† Net of By-Product.
Subscription required - Subscription is required.

Operating Costs:

Units2019
OP mining costs ($/t mined) USD 2.25 *
OP mining costs ($/t milled) USD  ......  Subscription required
Processing costs ($/t milled) USD  ......  Subscription required
Total operating costs ($/t milled) USD  ......  Subscription required
* According to 2019 study.
Subscription required - Subscription is required.

2019 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscription required
Sustaining CapEx $M USD  ......  Subscription required
Closure costs $M USD  ......  Subscription required
Total CapEx $M USD  ......  Subscription required
OP OpEx $M USD  ......  Subscription required
Processing OpEx $M USD 603
G&A costs $M USD 43
Income Taxes $M USD  ......  Subscription required
Royalty payments $M USD  ......  Subscription required
Gross revenue (LOM) $M USD  ......  Subscription required
EBITDA (LOM) $M USD  ......  Subscription required
Pre-tax NPV @ 5% $M USD  ......  Subscription required
After-tax NPV @ 5% $M USD  ......  Subscription required
Pre-tax IRR, %  ......  Subscription required
After-tax IRR, %  ......  Subscription required
Pre-tax payback period, years  ......  Subscription required
After-tax payback period, years  ......  Subscription required
Subscription required - Subscription is required.

Proposed Heavy Mobile Equipment as of February 20, 2019:
HME TypeSizeQuantity
Dozer (crawler) 470 kW 3
....................... Subscription required ....................... Subscription required 2
....................... Subscription required ....................... Subscription required 2
....................... Subscription required ....................... Subscription required 3
....................... Subscription required ....................... Subscription required 1
....................... Subscription required ....................... Subscription required 2
....................... Subscription required ....................... Subscription required 25
Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Feb 12, 2021
....................... Subscription required ....................... Subscription required Subscription required Feb 12, 2021
....................... Subscription required ....................... Subscription required Subscription required Feb 20, 2019
....................... Subscription required ....................... Subscription required Subscription required Feb 20, 2019
Subscription required - Subscription is required.


Corporate Filings & Presentations:

DocumentYear
................................... Subscription required 2019
................................... Subscription required 2019
Technical Report 2012
Preliminary Economic Assessment 2010
Subscription required - Subscription is required.

News:

NewsDate
Euro Sun Announces Robust Definitive Feasibility Study for the Rovina Valley Gold-Copper Project in Romania March 1, 2021
Euro Sun Announces Positive Results for PEA for the Initial Phase of Development at the Rovina Valley Gold-Copper Project February 20, 2019
Official Monitor of Romania Publishes Mining License for Euro Sun Mining’s Rovina Valley Project November 16, 2018

Aerial view:

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