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Article: ROMANIA: Construction start-up on planned $253,000,000 gold mine is tentatively scheduled to begin some time during the year 2003, GABRIEL RESOURCES LTD. [Canada] - Order #: 116302.
- Article from:
- WWP-Business Opportunities in Eastern Europe & the CIS
- Article date:
- November 1, 2002
CopyrightCOPYRIGHT 2002 Worldwide Projects, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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PROJECT OVERVIEW:
Canada-based GABRIEL RESOURCES LTD. is currently engaged in the acquisition of local properties to enable moving some residents to a site adjacent Rosia Montana in order to enable starting up construction work on a new gold mine some time during the year 2003. As things currently stand, the basic engineering for the proposed undertaking was scheduled for completion during the 3rd quarter of 2002.
The Rosia Montana gold mine contains low-grade reserves of 208 million tons grading 1.56 gr of gold and 7.8 gr of silver per ton of ore. The estimated yield has been pegged at 10.4 million ounces of gold and 52 million ounces of silver.
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