Business
Drill sampling results
Drill sampling results.
About this update from Eurasia Mining Plc
[{"type":"text","content":"\n Eurasia Mining PLC\n21 April 2006\n\n Eurasia Mining plc\n\n ('Eurasia' or 'the Company')\n\n\n\nEURASIA DISCOVERS VIRGIN PLATINUM ALLUVIAL DEPOSIT AT WEST KYTLIM, URALS, RUSSIA\n\n\nEurasia Mining plc is pleased to report the discovery of a previously unknown\nand unmined alluvial platinum deposit on parts of the Tylai River terraces in\nits West Kytlim licence in the Central Urals of Russia.\n\n\nDrill results from the first traverse across the terraces average 335 milligrams\nper cubic metre (mg/m3 - the standard method of reporting drill results for\nalluvial deposits) over a surface width of 320 metres (m) and an average\nthickness of 3.2m. Details of the results are provided on the company's web site\nwww.eurasiamining.co.uk.\n\n\nThe deposit lies under 1 - 8m of barren river sediment which hitherto has\nconcealed the deposit from previous mining activity. The results are consistent\nwith Eurasia's exploration model, which has identified this target as being\napproximately 5 km long on the south side of this river with an estimated total\npotential of 5.1 million cubic metres. A second as yet untested target remains\nto be explored on the north side of the Tylai River.\n\n\nIn addition to this virgin discovery and located near the headwaters of the\nTylai river, a second drill traverse at Bolshoya Sosvovka has identified\nmaterial comprising both tailings from an earlier dredging operation and blocks\nof remnant unmined material that averages 320 mg/m3 from surface over\nthicknesses of 3.6 to15.3 m. Eurasia's work indicates a potential volume of 3.7\nmillion m3 over a surface width of some 200 m and a potential length of 2 km.\n\n\nAn intensive drilling programme continues with the aim of delineating blocks of\nmineralisation to be test-mined and processed during this (2006) summer using a\nplant that has been constructed by Eurasia. Additional target areas within the\nlicence area have yet to be assessed.\n\n\nCommenting on the results, Managing Director Christian Schaffalitzky said: 'We\nare pleased to see the fruits of our work at West Kytlim. Two potential areas of\nproduction have been identified. As the capital costs for mining these projects\nare modest, helped by using equipment owned by our local partner, Eurasia\nexpects to see cash flow in 2007 if a mining permit is obtained in time for the\nsummer season. We...