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Project Update: Semenovsky Gold Tailings Project
Project Update: Semenovsky Gold Tailings Project.
About this update from Eurasia Mining Plc
[{"type":"text","content":"\n \nRNS Number : 3379W Eurasia Mining PLC 26 April 2016 \n\n \nEurasia Mining plc (AIM: EUA)\n \n(\"Eurasia\" or the \"Company\")\n \nProject Update: Semenovsky Gold Tailings Project\n \n \nEurasia Mining plc, the Russia focused PGM and gold exploration and development company, here working in partnership with Metal Tiger plc (LON:MTR), is pleased to report further progress at the Semenovsky Tailings Project (STP) in Bashkiria, Russia.\n \nHighlights:\n- Russian Pre-Feasibility Study equivalent - the TEO of Conditions - which was submitted to Bashnedra, the local Bashkirian Mines Department, has now been approved;\n \n- Metallurgical testing of the STP is now fully underway with 5 metallurgy focused drill holes completed and core logging by Eurasia geologists is on-going;\n \n- Metallurgical samples have been shipped from the site to Ekaterinburg to be prepared for onward shipment for metallurgical analysis with results to follow shortly thereafter.\n \nChristian Schaffalitzky, Managing Director of Eurasia Mining commented \"Approval of the TEO of Conditions is a major step forward for the STP and allows us to continue at pace with our other due diligence work and to lay the foundations for the commencement of processing plant construction later in the year.\n \nWe are also very pleased to see activity on the ground at Semenovsky with the metallurgical testing underway. This is a very key part of our project due diligence and we look forward to receiving, analysing and releasing the findings to market at the earliest opportunity.\n \nPlant construction at Semenovsky is scheduled to commence in Q4 2016 subject to satisfactory completion of remaining due diligence and timing of final permits.\"\n \nBackground to Semenovsky Tailings Project\n \nIn November 2015, Eurasia, in partnership with Metal Tiger, signed an exclusive option to acquire 67% of STP with the Russian registered licence holding company Golden Sands. Eurasia is now in detailed discussion on exercising the option.\n \nTEO of Conditions (Russian Pre-Feasibility Study Equivalent) Approval\n \nProgress has been made in statutory licensing obligations, as the company has received written notice o...