Re Current Worth15 Nov 2019 19:25
Mac....
Full Text....
RNS Number:7066B
Eurasia Mining PLC
08 August 2007
Eurasia Mining plc
('Eurasia Mining' or the 'Company')
Discovery confirmed in Kola JV with Anglo Platinum
Eurasia is pleased to announce further confirmation of a platinum group metals
(PGM) discovery on the Kola Peninsula in north-west Russia.
Anglo Platinum, the world's largest primary platinum producer is funding the
exploration programs up to US$10million and these results complement the two
previously announced discoveries in areas covered by the joint venture.
Confirmation of the discovery on the Monchetundra licence follows completion of
2,339 metres of drilling in 12 holes to the end of July. Platinum grades of up
to 10.7 grams per tonne (g/t) and palladium of up to 2.88 g/t were identified
within a one metre section of the mineralised zone measuring 17 metres in
thickness.
Eurasia Managing Director Christian Schaffalitzky said: 'We are of course
delighted by these latest results which confirm an continuation of the
mineralised zone identified in our initial Monchetundra discovery. We are now
drilling to seek further extensions.'
Drilling work is also continuing on the neighbouring Volchetundra licence, and
by the end of July a total of 851 metres was completed in four holes to follow
up the initial discovery announced in March 2007. The holes have yet to be
assayed but summary logging indicates the mineralised zone appears to continue
both along strike and down dip.
Eurasia's joint venture with Anglo Platinum covers the Monchetundra,
Volchetundra and West Imandra licences which together cover a total of 450 sq km
on the Kola Peninsula. The licences lie on an extension of a geological trend
where the Canadian groups Barrick Gold and Consolidated Puma Minerals
Corporation are carrying out advanced exploration and feasibility studies on
nearby deposits..
Results from the earlier discoveries on the Volchetundra and Monchetundra
licences showed the presence of platinum and palladium with grades of up to 11
grams per tonne. Initial appraisal work is also under way at West Imandra.
The technical information and opinions contained in this announcement have been
reviewed by Christian Schaffalitzky, the Company's Managing Director who is a
Professional Geologist and Chartered Engineer and a member of the Institute of
Materials Metals and Mining and the Institute of Geologists of Ireland.
Ends.
Look at those bloody grades......you can now order your yacht !!!!!!!!!!!!!!!
Monchetundra has potential to sell for multi-Billions !!!!!!!!!!!!!!!
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