RE: A beautiful PGM district14 Feb 2021 17:02
Multiple zones, colossal area to expand into, decades upon decades of resource mining!. Commodities everywhere, just in time for a commodity supercycle. The funds and ii's know it, that's why they continue to load up!
"In November, following weeks of delays at congested assay labs in St Petersburg, Eurasia were at last able to announce results for a drilling program of four target zones at Monchetundra. Zone 2 emerged as having underground mining potential, delivering grades increasing with depth from 4m at 1.7 g/t Pt+Pd at 75m depth to 3.6m grading 8.4 g/t Pt+Pd at 190m depth. In Zone 3, lower grade but potentially economic open-pittable mineralisation included 6.7m at 1.8 Pt+Pd some 90m below surface and 36m at 1.8 g/t Pt+Pd only 75m down. Overall, given the current prices of the two metals, the platinum:palladium ratio was encouraging at 0.6:1.
Volchetundra ? a 27km long and largely untested intrusion - was next on the menu, and drilling in late 2006 resulted in a new discovery. Hole VT-17, drilled to the northern side of the licence on a previously untested target, intersected thick areas of mineralisation. First came 44.6m at 1.7 g/t Pt+Pd encountered at 68m depth, though running with a high Pd:Pt ratio of between 1.5-3:1. At 145m down, a further 18.5m found 1.9 g/t, but here the palladium:platinum ratio was much more favourable at 0.3-1.1:1. Deepest of all, at 170m depth, lay a 1m section assaying 11 g/t Pt+Pd, again with a very favourable Pd:Pt ratio of 0.8:1."
https://ca.proactiveinvestors.com/companies/news/226/eurasia-mining-revisited-0188.html
"The Company would also like to highlight further regional potential specifically in the Volchetundra Project, previously operated by the Company under a Joint Venture with Anglo American from 2004 to 2011, and subsequently surrendered to focus on the Monchetundra Project. Volchetundra occurs 5 km from Monchegorsk. This high palladium deposit now becomes of interest given the recent price appreciation in palladium and the future price outlook. Palladium prices through 2011 averaged less than $600 per ounce. The Company's database of proprietary information including 12,000m of drilling will be compiled in due course to reassess the projects future potential development. If the Company did want to explore this project again, it would have to re-apply for the relevant licences and there can be no guarantee that they will be granted."
https://www.lse.co.uk/rns/EUA/monchetundra-update-y1zwj1c5tpmei84.html
GLA