Header Image

Header Image

Certej is an epithermal gold-silver project located in the Apuseni Mountains of Transylvania in western Romania.

The deposit extends from surface and will operate as an open pit mine.

Key Facts

Location Apuseni Mountains, Romania
Mine type Open pit
Metals mined Gold, Silver
Employees/contractors 254
Expected mine life 15
Deposit type Epithermal gold-silver
Ownership 80.5%
Resources & Reserves

* Based on current proven and probable reserves.

2017 Outlook

The Company will spend approximately $20.0 million in capital during 2017 with a focus on continuing infrastructure projects, advancing permitting and support engineering as defined in the 2015 Feasibility Study. Permitting required includes an amendment to the EIA to allow for improvements to the metallurgical process, converting the current Albion process to pressure oxidation.

Indicative Operating Data

Estimated Annual
Tonnes milled 3.0 Mt
Au grade 1.69 g/t
Ag grade 11.0 g/t
Au recovery 87%
Ag recovery 80%
Gold production 140,000oz
Silver production 830,000 oz
C1 – Operating cash cost* $550/oz
C2 – Total cash cost $630/oz
Sustaining cash cost** $730/oz

* Net of by-products
** C2 + sustaining capital

For more information, please see our Certej Project Presentation.

Geology and Mineralization

Certej is an intermediate sulfidation epithermal gold deposit associated with a Miocene magmatic complex in the South Apuseni Mountains, Romania. Gold mineralization is hosted within Cretaceous sedimentary rocks (black shales and intercalated siltstones to sandstones) and Neogene conglomerates, grits and volcanic and intrusive units. Three main andesitic intrusive phases are recognised in the deposit; Dealu Grozii, Baiaga and Hondol, with the Baiaga Andesite located in the center of the system and mineralization developed along the intrusive contacts, within the Cretaceous and Neogene sedimentary rocks and in the Hondol and Dealu Grozii Andesites. Mineralization has a broad E-W orientation with higher grade breccia zones oriented along NW-SE and NE-SW structures. Ore styles include disseminated mineralization in sedimentary units and at the contacts of intrusive rocks, hydrothermal breccias, stockworks and distal veins. The gold occurs with pyrite in arsenic-rich rims together with variable amounts of sphalerite and galena. Native gold is present but restricted to the distal veins. Zonation is observed both in the style of mineralization and alteration patterns with widespread clay-sericite-pyrite-calcite surrounding a core of silica-adularia.

Exploration

In the Certej district we are currently testing several epithermal and porphyry targets lying within our licenses in the immediate project area.

History

2015 Feasibility Study completed
2014 Updated Technical Report published
2013 10% increase in gold resources year on year from 4.3 Moz to 4.8 Moz
2012 Eldorado acquired Certej via the acquisition of European Goldfields; Mineral resources increased by 1.57 million ounces to 4.30 million ounces; Environmental Permit approved
2000 Deva Gold, a subsidiary of European Goldfields acquired a stake in Certej
1983 Minvest-owned Certej mine took over the Baiaga-Hondol deposit (central and west part of Certej)

Resources

Images