Gabriel is currently at the permitting stage in the process to develop, construct and operate the Rosia Montana gold and silver project, one of the largest undeveloped gold deposits in Europe.
The Rosia Montana region of Romania has been characterized by economic decline and environmental degradation. Today, there is a real plan for a brighter future and a significant contribution to Romanian GDP through the Project. Gabriel is committed to building a new state-of-the-art mining facility to reinvigorate the local and wider economy and to provide an economic basis for sustainable development for the whole area for decades to come.
The proposed development has Measured and Indicated Resources of 17.1 million ounces of gold and 81.1 million ounces of silver (513 million tonnes at average grades of 1.04g/t gold and 5g/t silver), including Proven and Probable Reserves of 10.1 million ounces gold and 47.6 million ounces of silver (215 million tonnes at average grades of 1.46g/t gold and 6.88g/t silver) - see Mineral Reserves & Resources.
Gabriel's efforts are fully directed towards the successful conclusion of the permitting phase of the Project including the receipt of all environmental and other permitting approvals required for the development to proceed to construction.
Gabriel's second project, the Bucium project, comprising of the Rodu-Frasin (epthermal gold/silver) and Tarnita (porphyry copper-gold) deposits can be considered advanced and early stage exploration projects, respectively.