In the Börzsöny Mountains of Northern Hungary exists several high grade gold and silver deposits that have been mined intermittently from the 1500’s. Underground workings at Rószabánya – “The Rose Mine” – extend for several kilometres, and on several levels. Samples from underground vein material taken in 2017 yielded over 4.0 grams per ton gold, and over 64 grams per ton silver.
The company continues to engage with the Hungarian Mining Authority to re-establish a mining concession in this area.
In Slovakia, which borders Hungary to the north, people have been mining gold for over 2000 years. The most well-known site is an area of volcanic gold fields in mountains located in the direct center of the country. The first record of subsurface mining here dates all the way back to the 9th Century which makes Slovakia one of the oldest known gold producing countries in Europe.
Hungarian Precious Metals Corp. is in negotiations to acquire a significant gold resource in this area.
On September 10, 2018, the Hungarian government issued a call for bids in an open, single round tender for its state owned Recsk copper deposits. These deposits, located in Northern Hungary are truly world class in scope – measuring as much as 700 millions tons of 0.77% copper equivalent. (0.66% copper with gold and molybdenum credits).
Hungarian Precious Metals Corp. has begun seeking western financial partners with whom it can work toward submitting a competitive bid for these assets prior to the Hungarian government’s December deadline.