Canadian Danube Minerals found gold in Serbian Medjvedja municipality

4. December 2012. / Mining

In Medvedja municipality the existence of 800,000 tons of copper and 78 tons of gold was confirmed, according to the company Danube Minerals. Danube Minerals invested more than $ 15 million in the last two years of research. Danube Minerals is a local company with Canadian capital, and employs more than 30 people, mostly from Medvedja and the environment. The company has announced aid to health and education sectors with the support of the authorities in Medvedja.

“According to final calculation of mineral reserves in Tulare, it was established that there are   300 million tons of ore with a content of 0.27 percent copper and 0.26 grams per ton of ore. This amounts to 800,000 tons of copper and 78 tons of gold” research manager at the firm Danube Minerals, Phil Fox told the reporters.

According to Fox, Danube Minerals invested more than $ 15 million in the last two years of research.

“Danube Minerals has already begun a preliminary mining study on the project, which will help determine the economic and technical aspects of how the future mine could operate” he said.

Fox announced that the initial studies will be available for publishing next year.

“Most of the people gathered in our research team are from the local community and we are aware of the historical mining potential in this area,” said Fox.

Danube Minerals is a local company with Canadian capital, and employs more than 30 people, mostly from Medvedja and the environment. The company has announced aid to health and education sectors with the support of the authorities in Medvedja.

Source Serbia Energy Magazine

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