Friday, 17th June 2005 (2570 views)

A London-based mining company has announced that it has made an "important" gold discovery in Bulgaria.

Cambridge Mineral Resources (CMR) said that its Bulgarian subsidiary had found gold mineralisation at its Polski Gradets permit.

Located in central Bulgaria near the town of Topolovgrad, the Polski Gradets permit is to be worked by CMR through a joint venture agreement with Ivanhoe Mines, which is currently funding exploration at the site.

According to CMR, the type of gold mineralisation discovered is one rarely found in Bulgaria, bearing a resemblance to the Carlin-type gold deposits of Nevada, USA, the Sofia News Agency reports.

A substantial drilling campaign is planned for the summer. CMR has further interests in joint ventures with Ivanhoe Mines in both Bulgaria and Serbia.

 

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