Canadian mining company DeepRock Minerals gave up a project in Romania’s Apuseni mountains, where it was planning to seek gold, Profit.ro reported.

In 2021, DeepRock signed a contract to acquire a 100% stake in a prospective exploration property located in the Apuseni Mountains, with an area of nearly 2,800 ha.

The company paid an advance of C$275,000 to the seller, Romanian firm Augustine Trading Professionals. Under the contract, it would have issued 9 million shares when obtaining the exploration license and another 9 million depending on the amount of gold found.

The Canadian company’s chief executive, Andrew Lee, said that DeepRock would focus on the recently acquired Esperança Lithium property in Brazil, as well as the Golden Gate gold project in New Brunswick.

DeepRock remains in Romania with the 7,641 square km Zăpozilor polymetallic mine project in the Apuseni Mountains, Bihor County, for which it acquired the prospecting license in 2020.

Source: Romania insider