Eurasia Mining PLC
28 July 2005
('Eurasia' or the 'Company')
Company resumes Urals work programme on possible economic platinum
The Company is set to resume an exploration work programme ahead of planned test
mining for platinum on its West Kytlim licence in the central Urals.
The programme will be funded by Anglo Platinum Ltd. ('Anglo'), the world's
largest platinum producer, pursuant to the terms of a joint venture agreement.
Earlier work carried out in the area established grades of up to 500 milligrams
per cubic metre (mg/m3) - well above the 180 mg/m3 required to be economic.
Initial work will focus on drilling and trenching to assess the extent and grade
of platinum within metal bearing sediments in two river systems running through
the 251-square kilometre licence.
Both systems - the Tylai and the Kosva - include river terraces potentially
containing un-mined platinum-bearing sediments, as well as 'tailings' of earlier
mining operations which can be reworked to recover residual platinum using
modern processing technologies.
In parallel with drilling and trenching in the Tylai river system, bulk sampling
and trial ore processing of up 10,000 cubic metres is planned, using a mobile
concentrator rig which has been constructed by the Eurasia team.
In the Kosva system, the target for exploration will be economic zones of
partially worked sediments as well as gravel terraces above the main valley
which have not been worked in the past. Most mined river systems in the Urals
have been worked three or more times as technology improved, but tailings at
Kosva have only been reworked once..
Eurasia Managing Director Christian Schaffalitzky said: 'While we continue
working with Anglo to explore the two river systems for larger resources, this
is a key step forward for us in areas likely to host small economic deposits of
alluvial platinum.'
Historical production from the Kytlim district in the Urals exceeds 50 tonnes of
platinum.
For further information contact:
Michael Martineau/Christian Schaffalitzky,
Eurasia Mining PLC: +44 (0) 20 7976 1222
Laurie Beevers, WH Ireland Ltd: +44 (0) 161 832 2174
Allan Piper, First City Financial Public Relations: +44 (0) 20 7436 7486
+44 (0) 7736 064 982
This information is provided by RNS
The company news service from the London Stock Exchange
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