2 minutes agoThis is Kosovo village with millions of underground wealth
Periskopi(3 years ago)
(3 years ago)The village of Sliva in our country has resulted in huge underground wealth, says a study of “Westeren Tethyan Resources”. According to the latest study, the gold mine in this village, located in the 7th mile of Pristina's exit, has resulted in the actual value of gold about $27m. Ariana Resources [...]
The village of Sliva in our country has resulted in huge underground wealth, says a study of “Westeren Tethyan Resources”.
According to the latest study, the gold mine in this village, located in the 7th mile of Pristina's exit, has resulted in the actual value of gold about $27m.
Ariana Resources PLC (AIM:AAU) said the Western Tethyan Resources (WTR) subsidiary has completed a preliminary economic assessment (PEA) for the gold project in Sliva, Kosovo, where it has resulted in a current value of about $27m.
Using an 8 - percent decline, the WTR assessed an internal return rate of 29 percent at a gold price of 1,835 USSD/oz based on capital costs of $3.4m at the beginning and the following $9.4m.
The production is projected to be 13,000 ounces of gold per year during a seven-year mining line, both underground and open, at recovery rate of between 92-94.5%.
The WTR has a profit deal with Avrupa Minerals, where it can earn up to 85% of the project by spending 1.8m euros and up to 85% of the cost of a more detailed feasibility study.
A net interest attributed under the profit has not yet been assessed, the statement said.
Kerim Sener, director of Ariana, said that: “this is an excellent result for the Sliva gold project, demonstrating its economic potential and stressing opportunities to improve the project in the longer term.
“The wider potential for exploring the Sliva project area, in particular the possibility of determining the further decline of existing ore mineralisation, promises further economic growth.
We are now seeking to complete further work to demonstrate this potential through a phased exploration programme. ”
The WTR added that this job would include an digging programme to improve exploration in areas bordering with the primary resource area, particularly targeting Dzemailj and Valijek.
During the rest of 2023, the company aims to start basic environmental research, social impact assessment, and complete the planning for a drilling program. /Proactive/
