Business
Extension of Monchetundra Licence
Extension of Monchetundra Licence.
About this update from Eurasia Mining Plc
[{"type":"text","content":"\n \nRNS Number : 9574Q Eurasia Mining PLC 21 October 2013 \n \n\nEurasia Mining plc\n(\"Eurasia\" or the \"Company\")\n \nExtension of Monchetundra Licence\n \nEurasia is pleased to announce that its licence at Monchetundra in the Kola Peninsula in Russia is being extended for three years to December 2016.\n \nTwo priority areas of PGM and base metal mineralization have been identified in the licence area: Loipishnyun and West Nittis. In the first area, mineralization occurs within two north-northwest striking lodes. Consistent grades of 1 to 1.3 grams per tonne platinum plus palladium over intercepts of 10 to 30 metres have been intersected, from surface to a depth of 150 metres. At West Nittis, some four kilometres to the north-northwest of Loipishnyun, a stratiform zone grading 2 to 15 grams per tonne gold, palladium plus platinum over 1 to 13 metres is cut by a vertical zone with much higher grades; the best being the previously reported intersection of 1 metre at grading 12.28 g/t gold, 6.52 g/t platinum, 98.8 g/t palladium with accompanying base metal grades of 2.13% nickel and 0.15% copper. The mineralization at West Nittis remains open both along strike and down dip. Both areas offer potential open cut mining opportunities. \n \nAs previously announced, Eurasia holds a 60% interest in this licence through its 40% holding in Urals Alluvial Platinum Limited (\"UAP\"), owned jointly with Anglo Platinum, the balance of 20% being held by Eurasia alone.\n \nManaging Director Christian Schaffalitzky said: \"The three year extension gives the company ample time to develop the project and extend the resources that we have discovered from our successful exploration\".\n \nEurGeol Christian Schaffalitzky, FIMMM, PGeo, CEng, has reviewed the update and consents to the inclusion of the exploration information in the form and context in which it appears here. He is a Competent Person for the reporting of these results.\n \n \nFor more information please contact:\n \nEurasia Mining:\n \nChristian Schaffalitzky / Michael de Villiers Tel: +44 (0) 207 932 0418\n \nKaty Mitchell, WH Ireland Limited  ...