Euro Sun Mining announced the appointment of Samuel Rasmussen as chief operating officer for its Rovina Valley project in Romania. In connection with the appointment Samuel Rasmussen has been granted 1,000,000 Euro Sun stock options. The options vest equally over four quarters, have an exercise price of USD 0.30 and expire five years from the date of grant.
Since graduating from the Colorado School of Mines, he has accumulated over 25 years of experience in building and operating large tonnage mines for international miners such as Glencore, Lundin Mining, Freeport McMoRan and Anglo American.
As CEO of the Kamoto Copper mine in the Democratic Republic of Congo, Samuel Rasmussen was responsible for all site operations, and completion of construction of a 300,000 tonnes per annum copper cathode facility and 40,000 tonnes per annum cobalt hydroxide facility.
As general manager, operations, for Freeport McMoRan Copper and Gold Tenke Fungurume operations, he was responsible for the management of the feasibility study, engineering, EPCM contractor and greenfield construction of this USD 1.8 billion project in the Democratic Republic of Congo. The mine is a large-scale copper cathode and cobalt hydroxide producer.
“Sam is an outstanding mining professional with deep experience in engineering, constructing and operating large scale bulk mining projects and will be an outstanding leader as we move through the development phase and into the construction of the mine,” Scott Moore, President and CEO of Euro Sun stated.
Rovina Valley Project
The Rovina Valley Project covers 27.68 km² in west-central Romania, approximately 300 km northwest of the capital city of Bucharest. This historic mining district known as the “Golden Quadrilateral” is one of the largest gold-producing areas in Europe where it is estimated that more that 55 Moz of gold have been produced since the Roman period (ca 2000 yrs ago).
The Rovina Valley property is accessible year-round via a paved two-lane highway from the historic gold mining town of Brad followed by secondary paved roads which pass through the town of Criscior and onward to the village of Bucureşci.
The Measured & Indicated mineral resources of 10.1 million ounces of gold equivalent (see details related to the mineral resource HERE) are based on three (3) porphyry deposits that define a north-northeast trend over a distance of 7.5 km. The Rovina Porphyry is the northern-most deposit, followed by the Colnic Porphyry, and the Ciresata Porphyry located the furthest south.
In November 2018, the Mining License for the Rovina Valley Project granted to SAMAX Romania srl (100% owned by Euro Sun Mining), was fully approved by six senior cabinet ministers and the Prime Minister of Romania.
This license secures the mineral tenure and allows the Company to begin the formal Environmental Impact Assessment and Urbanization Certificate, both of which are currently in progress.
In addition to key permitting activities, the Company has completed a new PEA, which was released on February 20th, 2019. This study will be further developed into the Bankable Feasibility Study targeted for completion by year-end.
About Euro Sun Mining
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%).