Located in a historical mining district dating back to pre-Roman times, the Roșia Montană project represents one of the largest undeveloped gold deposits in Europe. It has a mineral reserve base totalling 10.1 million oz. of gold and 47.6 million oz. of silver, contained within 215 million tonnes at average grades of 1.46 g/t gold and 6.88 g/t silver.
The proposed open-pit mine was met with widespread protests in 2013, which forced the Romanian government to reject its permit. Revival of the project appeared more difficult after Roșia Montană became a part of the UNESCO World Heritage list.
Gabriel has been working on this project since 1997. After obtaining its licence in June 1999, the company said it has focused substantially all of their management and financial resources on the exploration, feasibility and subsequent development of the proposed gold mine.
Importantly, Gabriel said it has fulfilled its legal obligations…
