Business
Application for Tipil license lodged
Application for Tipil license lodged.
About this update from Eurasia Mining Plc
[{"type":"text","content":"\n \nRNS Number : 3765C Eurasia Mining PLC 17 June 2019 \n\n \n \n \nEurasia Mining plc (AIM: EUA)\n(\"Eurasia\" or the \"Company\")\n \nApplication for Tipil license lodged\n \nEurasia Mining, the palladium, platinum, iridium, rhodium (PGM) and gold production Company, can now report that an application for a new exploration license area, Tipil, adjacent the current West Kytlim mining license, has been lodged for approval. \nThe new Tipil license (24.5km2) contains approximately 17 kilometres of river course and sedimentary units proven to host PGM deposits at the West Kytlim project. Geological data and historical mining information have been analysed by the Company's geologists and compiled to a report justifying the application as a new exploration license tenement. The Directors are confident of finding further PGM mineralisation in this area.\nHighlights :\n \n· The Tipil license area (24.5km2) has now been applied for as a new exploration permit and may be approved for exploration, and later converted to a production license uncontested. \n· The total exploration area applied for and approved at the West Kytlim project now stands at 95km2, inclusive of the Flanks Area (71km2) which was approved for exploration in December 2018 (see RNS dated 17 December 2018). \n· Exploration areas are adjacent and surrounding the current 21km2 mining permit, bringing the total area licensed and under application to 116km2\n \nChairman Schaffalitzky commented \"In line with our strategy to expand the production volumes at West Kytlim, even as the 2019 mining season is ongoing, we are again utilising one of our Company's other core competencies, i.e. our in-house expert knowledge of geology and the Russian licensing system, to further increase our presence in the West Kytlim area and aim to grow the mine to be the largest alluvial operation globally this year. We are now established as a dominant player in the PGM space in the region and look to developing an operation providing a low cost PGM solution that is sustainable over potentially several decades.'\nTipil Area \nThe Tipil license area (24.5km2) has now been applied for as a new exploration permit. The total ground licensed, or applied for as an exploration permi...