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Euro Sun Mining Inc T.ESM

Alternate Symbol(s):  CPNFF

Euro Sun Mining Inc. is a Canada-based mining company. The Company is focused on the exploration and development of its 100%-owned Rovina Valley gold and copper project located in west-central Romania. The Company holds the Rovina Valley Project through a mining license which covers a total of 27.68 square kilometers (km2). The Rovina Valley Project consists of three copper-gold porphyry systems referred to as Rovina, Colnic and Ciresata. The Colnic Deposit is located approximately 2.5 km south of the Rovina Deposit and the Ciresata Deposit is approximately 4 km south of the Colnic Deposit. The Rovina gold deposit holds about 400 million tons of confirmed resources containing 7.0 million ounces of gold and 1.4 billion pounds of copper.


TSX:ESM - Post by User

Post by eelkcinon Jun 15, 2021 10:48am
187 Views
Post# 33388133

News

NewsEuro Sun Receives Key Approval for the Rovina Valley Project From Romanian Government TORONTO, June 15, 2021 (GLOBE NEWSWIRE) --Euro Sun Mining Inc. (TSX: ESM)(Euro Sun or the Company) is pleased to announce the issuance of theAvizul de Oportunitateby the County Council of Hunedoara County, Romania.This approval is a significant milestone in the permitting process and is required under Romanian legislation to continue to advance the Rovina Valley Project. With the issuance of the Avizul de Oportunitate, (approximate translation: opportunity opinion and/or permit), the Company is now approved to proceed to the next stage of permitting for the Rovina Valley Project, namely the Planul Urbanistic Zonal (PUZ) or Certificate of Urbanism for Land. The PUZ process takes the existing pastoral or forest lands and re-zones the required area for commercial activity. The definitive feasibility study, filed on April 14th, 2021, provided the necessary engineering details required for the submittal of the approximately 3,000 page application and ultimately approval of the permit. As announced on April 5th, 2021 the Company officially initiated the Strategic Environmental Assessment (SEA) with the Environmental Protection Agency of Hunedoara County (EPA). The legislated eighteen-day period for public comment on initiation of the SEA has passed with no comments received by the EPA. The Company and the EPA are now working towards receiving the agreements and/or opinions from all the administrative authorities for the environmental opinion on the PUZ and preparing for public consultations expected to occur in Q3 2021. Scott Moore, Euro Suns CEO states,We are pleased to see continued ongoing support by the Romanian state as they deliver approvals as required to move the Rovina Valley Project towards our construction start. Investor perception of Romania as a potentially unfriendly jurisdiction to mining is clearly not accurate as these approval milestones continue to demonstrate. Our Definitive Feasibility Study has outlined a generational asset that brings the highest environmental stewardship along with significant economic benefits directly to our local communities and to the County as a whole. The milestone permit now allows the company to proceed with the PUZ taking us another step closer to construction
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