RE: TURNED BLUE!!!!7 Nov 2019 11:12
26 September 2019
Eurasia Mining PLC (AIM:EUA)
('Eurasia' or 'the Company')
Monchetundra flanks application submitted
Eurasia Mining PLC, the palladium, platinum, iridium, rhodium and gold producing company, is pleased to announce that an application for an exploration tenement adjacent to and surrounding the deposits at Loipishnune and West Nittis within the Monchetundra project, has now been submitted to Rosnedra for approval. Eurasia is developing the Monchetundra Project towards production following the issue of a mining permit for the circa 2Moz (2PGE + Gold) palladium dominated deposit and the award of an Engineering, Procurement and Construction (EPC) contract, with an associated mine finance package, to Chinese company Sinosteel. The EPC contract relates to the development of two open pittable deposits at Loipishnune and West Nittis, however the directors believe there is a strong case for further resources in the on-strike continuation of these deposits, which are included in the applied for Flanks area.
Highlights:
ยท Flanks area application now submitted to Rosnedra. Eurasia's TGK (Eurasia's 80% subsidiary) as the production license holder has exclusive rights to the flanks areas which the directors believe have the potential, given drilling success, to increase the resources severalfold.
ยท An 8km2 area has been applied for to cover on-strike continuation of mineralisation at both the Loipishnune and West Nittis open pittable reserves.
ยท Significant resource potential has been identified by previous exploration in the area and is recorded in Russian state archives, notably in the Nittis Kamuzhaya Travanya (NKT) Massif area to the north of West Nittis, which contains resources of Palladium, Platinum, Gold, Nickel, Cobalt and Copper. The area between the Loipishnune and West Nittis deposits is also highlighted as having significant potential, further details of which can be found below.