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At a cutoff grade of 0.6% gram gold per tonne, resources in the measured, indicated and inferred categories now stand at 254 million tonnes grading 1.3 grams gold and 8 grams silver per tonne, or 11 million contained ounces gold and 62 million contained ounces silver.
At a 1.2-gram cutoff grade, resources in all categories fall to 108 million tonnes grading 2 grams gold and 10 grams silver.
Last year, resources were pegged at 144 million tonnes of 1.7 grams gold and 10 grams silver, using a 0.8-gram cutoff.
The new resource estimate was calculated by Resource Service Group of Perth, Australia, and incorporated 42,000 metres of reverse-circulation and diamond drilling plus 58,000 metres of underground channel-sampling.
Over the past year, Gabriel has both expanded the overall resource base at Rosia Montana and upgraded the resource classifications. In particular, mineralization has been expanded at Cirnic into a number of previously untested areas, including the central core and the southern and northern extensions. At Cetate, mineralization has been extended northwest to Carpeni and Orlea. At both Cetate and Cirnic, mineralization has been extended to depth. Mineralization remains open at depth and to the north at Carpeni, Orlea, Igre, Cos and Jig, as well as south at Corna.
Drilling and underground channel sampling, aimed at adding resources to Cirnic and Orlea, will continue through November.
A final resource estimate is expected by year-end, and the Australian consulting firm Minproc is scheduled to deliver a definitive feasibility study for a large-scale open-pit operation at Rosia Montana project by June 2001. The study will include environmental and geotechnical work performed by consultants Knight Piesold.
Gabriel holds an 80% interest in the project, with 20% retained by the Romanian state mining agency Minvest.
Gabriel has appointed Gary O’Connor as vice-president of exploration and Romanian country manager.
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