Eurasia Mining PLC
26 July 2004
Eurasia Mining plc ('the Company) is pleased to announce assay results from its
drilling programme on its Kliprivier permit on the Eastern Bushveld Complex in
South Africa.
High grade assays of PGM were obtained in the first drill hole in the northern
basin from a sulphidic zone at a level that could correspond with the Merensky
Reef. From a depth of 778.1 metres (m), 0.69m gave assays averaging 9.5 grams/
tonne (g/t) Platinum and Palladium (Pt+Pd).
The discovery of the high grade zone well above the UG2 Reef is a new
development in this area and its significance is being assessed by the Company.
The drill hole also intersected the UG2 Reef at a depth of 854.3m, well within
the projected depth expected. The intersection consisted of massive chromitite
and was followed by approximately 15m of thin chromitite layers, chromitite
stringers and chromite disseminations. Two zones gave significant grades. From
854.3m the massive chromitite assayed 2.64 g/t Pt+Pd over 0.7m whilst the lower
zone over 0.5m from 866.8m assayed 2.1g/t Pt + Pd.
The drill hole on the southern basin intersected the UG2 reef at a depth of
715.4m, comprising 1.0m of massive chromitite rock sandwiched between thin
chromite disseminations and rock layers over a total thickness of approximately
13m. Again, two zones gave significant grades, with the 1m zone from 716m
grading 1.87 g/t Pt+Pd, while a lower zone from 728m graded 3.73 g/t Pt+Pd over
0.57m. Further assaying is still required on this intersection.
The drilling confirmed the presence of the two projected basins and intersected
the reefs at the expected depths. It also establishes that the UG2 occurs across
the full width of the property. The objective must now be to trace the UG2 at
its suboutcrop and shallow depth extensions to determine the open pit potential.
A final report will follow when all the cores and duplicate holes have been
assayed fully.
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