JOHANNESBURG (miningweekly.com) – TSX-listed Euro Sun has awarded the bankable feasibility study (BFS) contract for its Rovina Valley gold and copper project, in Romania, to SRK Consulting (Canada) and Ausenco Engineering Canada.
Announcing the award of the BFS on Thursday, Euro Sun said SRK would provide expertise in geology, mining and financial modelling, and that it would also oversee the geochemical and geotechnical work, as well as metallurgical test programmes. Ausenco would be responsible for completing the design engineering for the project.
"Our technical team will work closely with SRK and Ausenco, two experienced international mining engineering firms, to deliver a mine development scenario that will encompass leading environmental standards without the use of cyanide. We will continue to target a low capital intensity project that outlines the simple opencut mining and flotation processing at Rovina without the use of wet tailings impoundment," commented CEO Scott Moore.
Euro Sun has been granted a mining licence for the Rovina project, which is located on Europe’s second-largest gold deposit. The Rovina project hosts 10.84-million gold equivalent ounces, comprising 7.19-million ounces of gold grading 0.55 g/t and 1.42-million pounds of copper grading 0.16%.
An April 2010 preliminary economic assessment for the Rovina project estimates a mine operation with average yearly gold production of 196 000 oz over 19 years at cash costs of $379/oz gold. The project demonstrated a pre-tax net present value, at an 8% discount, of $316-million and an internal rate of return of 15.7%