Business
Kluchiki Reserve Drilling & Mine Season Update
Kluchiki Reserve Drilling & Mine Season Update.
About this update from Eurasia Mining Plc
[{"type":"text","content":"\n \nRNS Number : 0965F Eurasia Mining PLC 25 October 2018 \n\nEurasia Mining plc (AIM: EUA)\n(\"Eurasia\" or the \"Company\")\nKluchiki Reserve drilling & Mine season finishing on schedule and ahead of targets.\nEurasia Mining, the PGM and gold production company, is pleased to provide a further update from its West Kytlim Mine, the second largest alluvial platinum mine globally (after Kondyor, Russian Far East). A trommel and sluice based washplant has been operating at an industrial scale on site since May of this year, initially at the Malaya Sosnovka Area, and later also at Kluchiki. \nInfill reserves upgrade drilling was carried out at the Kluchiki Area in 2017 and 2018. The Company can now report on these audited drilling results. A further update will follow when the reserves calculation undertaken by the Company, based on new information resulting from the drilling program, is reviewed at Uralnedra, the official body qualifying state approved reserves locally. \nThe mine season is now finishing, on schedule and with total produced raw platinum well in advance of Company estimates. Work at site is now focussed on preparations for the 2019 season. \nThe Company is also actively engaged in progressing the mine permit application for the Monchetundra Project on Kola Peninsula. Recent communications with the relevant authorities have been answered as appropriate and the directors are hopeful of a positive conclusion to the process in the near term. A further announcement will follow in due course.\n \nHighlights: \n- Total of 895m of regular diameter core drilling undertaken in the 2017 to 2018 drill program with a further 67m of large diameter core drilled to verify regular core grades.\n- Grades recovered in line with expectations from current state approved resource.\n- Latest Company resource calculation, showing an increase in total contained platinum for the Kluchiki Area, has now been submitted for approval at Uralnedra. \n- Evidence for bonanza grade ore pockets within the latest Kluchiki drilling results.\n- Work at the mine site now focussed on preparations for the next season of mining, to ensure a smooth start-up in spring 2019.\n \nChristian Schaffalitzky, Eurasia Chair...