RE: Monchetundra10 Nov 2019 20:52
Monchetundra
The Company restarted exploration and development studies on the West Nittis area within the Monchetundra licence in August 2015. This area had seen the discovery by Eurasia of near-surface high-grade platinum and palladium as a result of 2010 drilling campaign confirmed by further drilling in 2013, recently described as world-class discoveries by the Chief Geology Officer of Norilsk Nickel.
The results confirmed the discovery of "Hanging Wall" Copper-Platinum Group Metal, (copper-PGM) type ore. This style of mineralization resembles similar ores previously mined in the region, albeit with high-grade base metals rather than PGMs. A second discovery of stratiform "Footwall" PGM mineralization in the same target area has the potential, combined with the Hanging Wall target, to become a significant economic resource. The current work underway is aiming to confirm this model.
In line with the approach undertaken at its other project at West Kytlim in the Urals, the Company intends to submit a feasibility study to the government agency Rosnedra in order to seek the award of a Discovery Certificate. It is expected that the submission will happen late 2015 or early 2016, and further announcements will be made if this progresses.
GLA