European Goldfields updates Certej resource

With some 10,046 surface channel samples, 8,981 metres of underground channel samples, 26,506 reverse circulation drill samples and 6,984 diamond drill core samples collected in 2001, European Goldfields (EGU-V) has announced an updated resource estimate for its 80%-owned Certej gold project in Romania.

The updated resource estimate for the eastern and western domains includes indicated resources of 44.1 million tonnes running 1.9 grams gold and 10 grams silver per tonne. Another 14.1 million tonnes averaging 1.5 grams gold and 8 grams silver is classified as inferred. The central domain has an inferred resource of 2.9 million tonnes running 1.6 grams gold and 11 grams silver. A cutoff grade of 0.8 gram was employed.

For the current resource estimate, the Certej deposit was divided into 3 main regions — the sub horizontal and contiguous eastern and western domains and the deeper, sub-vertical central domains. The eastern and western domains are well defined by drilling, surface and underground channel sampling. Mineralization in the central domains has been outlined by just seven holes.

Work during 2001 confirmed the presence of a major, east- west trending, sub-horizontal, disseminated mineralized zone, more than 1.5 km long, up to 500 metres wide and up to 350 metres thick. The zone is exposed at surface along most of its strike length. Late in the year, drilling identified a sub-vertical mineralized zone, up to 60 metres wide. Both zones remain open.

At the beginning of 2001 Certej’s total indicated and inferred resources were pegged at 50.1 million tonnes grading 1.8 grams gold and 14 grams silver per tonne, representing an increase of about 4.5 million tonnes from a 1996 estimate. The 2001 estimate was based on a 0.8-gram cutoff grade and channel sampling alone.

Preliminary metallurgical testwork indicates that gold recovery, via a combination of conventional cyanide leaching and partial oxidation, could be more than 82%. Further testwork will aim to optimize the flotation recovery and to assess all available oxidation process options, including pressure oxidation, bacterial leaching and ferric leaching.

The Certej deposit is interpreted to represent a mid to shallow-level, low-to-medium sulphidation epithermal system possibly associated with a porphyry-style hydrothermal system at depth. Mineralization is associated with pervasive quartz-adularia-clay-carbonate-pyrite alteration. The deposit sits in the northwest-southeast trending Brad-Sacaramb Neogene basin.