TORONTO, Nov. 04, 2019 (GLOBE NEWSWIRE) -- Euro Sun Mining Inc. (TSX: ESM) ("Euro Sun" or the "Company") is pleased to announce the surface generative exploration results from the Stanija Prospecting Permit ("Stanija PP") directly adjacent to its Rovina Valley Gold project in Romania. Any mineralization defined on the Stanija PP could have synergies for mine development on the Rovina License as envisioned in the NI 43-101 Preliminary Economic Assessment Study released by the Company on February 20, 2019.
Euro Sun has compiled historic surface exploration work completed on the Stanija PP, which covers 42 square kilometres, comprised of state-geologic survey mapping, soil sampling and rock chip sampling. In addition, Euro Sun has completed further soil sampling extension and infill grids, systematic litho-geochemistry sampling, and detailed geology-alteration mapping.
Euro Sun reconnaissance rock chip sampling and grab sample assay results indicated the presence of porphyry-style gold (Au) - copper (Cu) mineralization and Au epithermal vein-style mineralization. Examples include sample CS-10193 with 1.39 g/t Au and 0.34% Cu porphyry style occurrence and sample CS-10104 with 25.9 g/t Au and 0.005% Cu epithermal vein style occurrence (See Table 1 for additional samples). Compilation of historic and Euro Sun's soil sampling programs which cover approximately 80% of the Stanija PP, defines four porphyry targets and one broad zone with epithermal characteristics. A cluster of three porphyry targets (1.5 km apart from each other) occur 6 km east from the Colnic Au-Cu porphyry deposit on the Rovina Mining License (See Figure 1 for Target Location Map).
Porphyry Targets: Defined by 'bulls-eye' shaped soil geochemistry anomalies comprised of coincident Au-Cu and molybdenum (Mo). Litho-geochemistry traverses through these anomalies confirm the porphyry signatures with anomalous gold, copper and molybdenum. In addition, detailed geologic mapping defines discrete potassic alteration zones within broader phyllic alteration halos.
Epithermal Targets: In the eastern part of the Stanija PP, a broad zone of anomalous gold-in-soils covers 1800 meters x 2200 meters. This is partly coincident with a low-level copper-in-soils anomaly and includes known epithermal vein occurrences at Muncaceasca. This broad gold and copper geochemistry anomaly is adjacent to the Popa Stanija porphyry target.
Further work by Euro Sun will compile and interpret historical drilling and underground sampling results from previous license holders and Euro Sun's work to develop exploration target size potential and grade tenor.
Stanija Prospecting Permit Background
The Stanija PP covers 42 sq-km and includes approximately 75% of the Zlatna - Stanija volcanic belt which lies between the Rovina-Barza-Certej volcanic belt to the west and the Rosia Montana-Bucium Volcanic belt to the north east. These three Neogene volcanic belts comprise the Golden Quadrilateral of the South Apuseni Mountains and is known for its occurrences of large-scale epithermal gold and porphyry Copper-Gold deposits. Euro Sun was granted the Stanija Prospecting Permit from the National Agency for Mineral Resources of Romania ("NAMR") in September 2016.
Scott Moore, Euro Sun's CEO states, "Our team has worked diligently over the past three years on the Stanija prospecting license to determine the discovery potential adjacent to our Rovina Valley Project. Early field work included soil geochemistry, field mapping and selected grab samples and trenching. We look forward to the initiation process by NAMR for the exclusive exploration license which is expected to occur in early 2020."
Mr. Randy Ruff, P.Geo, V.P. Exploration of Euro Sun and a qualified person as defined by NI 43-101, has compiled and reviewed the exploration contents of this press release.
Figure 1.
https://www.globenewswire.com/NewsRoom/AttachmentNg/6eb18c17-8076-4948-a6dc-131aa64e193f (https://www.globenewswire.com/NewsRoom/AttachmentNg/6eb18c17-8076-4948-a6dc-131aa64e193f)
Figure 2
https://www.globenewswire.com/NewsRoom/AttachmentNg/484eea98-3c0f-463a-a684-0a431380f68a (https://www.globenewswire.com/NewsRoom/AttachmentNg/484eea98-3c0f-463a-a684-0a431380f68a)
Table 1.
https://www.globenewswire.com/NewsRoom/AttachmentNg/5f539953-1846-405b-970d-5e0be8a4a02e (https://www.globenewswire.com/NewsRoom/AttachmentNg/5f539953-1846-405b-970d-5e0be8a4a02e)
Qualified Persons
Mr. Randy Ruff, P.Geo, an employee of Euro Sun and a qualified persons as defined by NI 43-101, has also reviewed the technical disclosure contained in this press release.
About Euro Sun Mining Inc.
Euro Sun is a Toronto Stock Exchange listed mining company focused on the exploration and development of its 100%-owned Rovina Valley Gold and Copper Project located in west-central Romania. The property hosts 10.11 million gold equivalent ounces (7.05 million ounces of gold grading 0.55 g/t and 1,390 million pounds of copper grading 0.16%*).
Further information:
For further information about Euro Sun Mining, or the contents of this press release, please contact Investor Relations at info@eurosunmining.com (mailto:info@eurosunmining.com)
Caution regarding forward-looking information:
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the surface generative exploration results from the Stanjia PP and the prospect and timeline to secure the exclusive exploration license for Stanjia. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including risks inherent in the mining industry and risks described in the public disclosure of the Company which is available under the profile of the Company on SEDAR at www.sedar.com (http://www.sedar.com/) and on the Company's website at www.eurosunmining.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
The TSX does not accept responsibility for the adequacy or accuracy of this news release
