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Thursday, 22nd March 2007 (3074 views)

Slovakia isn't a name usually associated with gold mining but one firm, EMED Mining Public, hopes to change all that with its hopes for a new deposit in the country.

The firm is currently operating on a tectonic belt which is over 3,000 kilometres and runs from Eastern Europe to Iran. It is concentrating on the area running through Slovakia on the premise of exploring and developing both gold and copper resources there.

The company has laid down a hurdle rate before getting involved which predicts that exploration in Slovakia has the potential of recovering at least one million ounces of gold or 150,000 tonnes of copper.

Harry Anagnostaras-Adams, the managing director of EMED Mining Public, said he hoped the firm would eventually "be in the position to re-establish Slovakia as a major producer of precious metals and perhaps base metals".

Volcanic centres will be the target for the majority of work because these settings are analogous to parts of the Pacific Rim. Two of the main prospects are the Detva licence and the "world class" Stiavnica-Hodrusa mineral district.

The former was previously unexplored for gold during the Soviet era but recent surveying found 14 sampled with an average grade of 1.1 grams of gold per tonne.

 

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