Canadian miner Carpathian Gold has announced its initial gold estimate for the Rovina Exploration in Romania.
According to independent consultant AMEC, which carried out the estimate, indications demonstrate that there are an estimated 1.8 million ounces of gold-copper at the Colnic porphyry deposit.
However, as yet neither the Colnic deposit nor the Rovina deposit have been fully market out in size.
Dino Titaro, president of Carpathian Gold, commented: "We are exceptionally pleased with this initial mineral resource estimate, given that it represents a starting point of the resource potential for each deposit that was achieved within only ten months of commencement from drilling in 2006."
He said the company is "highly encouraged", adding that the original minimum target goal for the project of 200 million tonnes had already been surpassed.
The resource estimate for Colnic was based on 49 drill holes drilled over an area of around 600 x 600 metres.