Friday, 1st July 2005 (3137 views)

Eurogold has revealed its resources at its Saulyak mine in Ukraine are now thought to be over 1.2 million tonnes.

This amount is in fact double that of previous estimates put forward by the miner.

Exploration first began at the site in August last year and results have now been reviewed from previous drilling and its own drilling and exploration programme.

Eurogold chairman, Peter Gunzburg, said: "We are very pleased with the ongoing progress at Saulyak which is testament to the skills of our exploration team and commitment to consolidating our position in the Carpathian Mountains of Central Europe."

"We continue to be focused on successfully merging and ramping up our Ukraine and Romanian operations so that Eurogold can take its place alongside the other mid-sized producers of the former Soviet Union," he added.

 

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