Toronto-based
The revised estimate is based on 51 drillholes spanning 8,750 metres in the Cetate zone.
Using a cutoff grade of 1 gram, Gabriel outlined an indicated and inferred resource of 26.9 million tonnes grading 1.9 grams gold and 11 grams silver per tonne, equivalent to 1.7 million oz. gold and 9.5 million oz. silver.
The company expects to produce a final estimate based on 80 drillholes in the Cetate zone. Also, recent drilling southwest in the Guari zone encountered additional mineralization that will be included in that estimate.
Highlights include hole 70, which hit 12 metres averaging 86 grams gold and 79 grams silver starting at a depth of 35 metres. Hole 73, collared in the Carpeni zone, north of Cetate, hit 10 metres near the surface grading 3.7 grams gold.
The company also released underground sampling results from the Cirnic zone, 1 km east of Cetate. The sampling is in preparation for an initial resource estimate for the zone, planned for May.
Gabriel has sent bulk samples to Dawson Labs in Salt Lake City, Utah, for metallurgical tests. Results are expected in April. Mineralization at Rosia Montana, hosted in andesitic and dacitic volcanic rocks, is generally low in sulphides.
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