Potential Gold and Silver Reserves Found in Hungary's Börzsöny Mountains

Potential Gold and Silver Reserves Found in Hungary’s Börzsöny Mountains

26/03/2024

Image source: pixelied.com / pixabay.com

Recent calculations by Hun-Mining Research, Development, and Innovation Ltd. reveal a promising discovery in northern Hungary’s Börzsöny mountains, estimating approximately 1,000 tons of gold and silver deposits at a depth of about 150 meters, as reported by Origo. This discovery surpasses the gold reserves held by the Hungarian National Bank, standing at 100 tons, with potential gold values reaching around EUR 59 billion. The envisioned concession mining rights could potentially unlock 9,000 tons of gold and an equivalent amount of silver over an estimated operational span of 42.5 years, providing employment for 1,200 individuals and establishing Hungary’s most lucrative gold and silver mines. After five years of meticulous research and technical preparation, including documentation for mining authorities, plans for the new gold mine are underway. Utilizing washing technology based on deep drilling results aims to eliminate the use of cyanide, adhering to EU regulations following past environmental incidents. The process of awarding concession mining rights will involve an international tender, with operations projected to commence within five years. With significant resources identified in the Nagyírtáspuszta-Rózsabánya region, this project holds the potential to transform into one of the world’s largest gold deposits, promising substantial social and economic benefits for the area.

Source and Credit: hungarytoday.hu

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