RNS OUT!!!WOW!!!!15 Sep 2021 08:02
TIDMEUA
RNS Number : 7853L
Eurasia Mining PLC
15 September 2021
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN EU REGULATION NO. 596/2014, INCORPORATED INTO UK LAW BY THE EUEOPEAN UNION (WITHDRAWAL) ACT 2018 AND IS IN ACCORDANCE WITH THE COMPANY'S OBLIGATIONS UNDER ARTICLE 7 OF THAT REGULATION.
15 September 2021
Eurasia Mining Plc
Monchetundra Detailed Mining Plan
Eurasia Mining Plc ("Eurasia" or the "Company"), the palladium, platinum, rhodium, iridium and gold producing company is pleased to announce that a detailed mining plan has been completed for the first 5 years of the life of mine of Loipishnune open pit and the West Nittis open pit, both of which form part of the Monchetundra project.
Summary Highlights:
-- Updated results of block modelling and open pit optimisation have created the opportunity to increase phase one ("Phase One") annual ore production by 1.7 times (from 1Mtpa to 1.7m Mtpa) compared to the Russian Feasibility Study (the "FS") throughput. The FS was approved by the State Commission on Mineral Reserves as announced on 3 April 2017. Phase One includes Loipishnune open pit and West Nittis open pit only
-- Revised production profile has resulted in the metal grades in the first year of production amounting to 2.6 g/t of palladium and 3.5 g/t in total of palladium, platinum and gold at West Nittis open pit mine. A revised production profile at Loipishnune has also resulted in the following grades: 1.8 g/t of palladium and 3.1 g/t in total of palladium, platinum and gold in the first year of production
-- Phase One annual metal production has now been calculated to be equal to 128 Koz of palladium equivalent, over 70% higher than the volume projected in the FS. This production volume does not include Monchetundra Flanks and Rosgeo JV projects which will be separately announced
-- Mining equipment selection has also been revised with the focus on the use of electric shovels, following the same ESG friendly strategy focused on low-cost electricity connection and electric excavators that is being implemented at West Kytlim now, to be implemented on our Kola projects
-- The site infrastructure layout drawing has been developed to include all major infrastructure elements
-- Extensive power generation spare capacity exists on the local grid, represented by predominantly green energy sources: hydro and nuclear (please refer to the details below)
-- A tailings storage location has been identified for the life of mine (please refer to the details below)
-- The local topography and precipitation have resulted in the formation of numerous bodies of water in the immediate vicinity of the operations (please refer to the details below)
-- The logis
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