Eurasia Mining PLC
22 November 2001
EURASIA MINING RELEASES FURTHER DRILL RESULTS FROM KLUEVSKY
Eurasia Mining PLC is pleased to announce new results from Kluevsky drilling
received this week. Drill hole K9 has intersected 10.56 meters assaying 3.56
grams per tonne (g/t) platinum group metals plus gold. This is over three
times the grade of the discovery drill holes K3 and K4 and well within the
grade and thickness objective targeted by Eurasia for open pit mining. The
Kluevsky anomaly that these drill holes investigated is located on the 380
square kilometre Baronskoye/Baranchinsky licence block in the Russian Urals.
The results of K3 and K4 and a description of the target concept were released
on 28 September. K3 and K4 tested the southern margins of the 500 m by 100 m
Palladium in Soil Anomaly. They intersected respectively 11.5 and 35.9 m
assaying + 1 g/t palladium plus gold. Another hole from which results were
recently received, K8, which was drilled to test the ground underneath K3 and
K4, intersected 30.6 meters at 0.76 g/t palladium plus gold, with individual
assays to 1.24g/t, commencing from the surface. The results from this hole,
combined with recently interpreted gravity data, suggest the higher grade
mineralisation plunges to the North. All these holes have intersected a broad
lower grade halo at the southern extremity of the anomalous area.
Drill hole K9 tested ground near the centre of the anomaly adjacent to a fault
that may well have constituted a channel through which mineralisation was
brought into the brecciated and altered rocks.
Part of the significance of hole K9 is that it establishes that the concepts
being used by Eurasia in this area are correct. In the sequence from K1 and K2
to K3 and K4 then finally to K9 we have seen first a doubling and then a
further tripling of grade as the mineralisation has been tracked towards its
inferred source. Quite apart from defining the potential of the Kluevsky
deposit, which must now be grid drilled to establish the economic potential;
K9 establishes the significance of the entire complex that occupies most of
the Baronskoye/Baranchinsky licence. Preliminary data from this year's
sampling has defined additional anomalous areas that will need to be tested.
Full results of the K9 intersection are as follows:-
KLUEVSKY
Assay (g/t)
HOLE K9 From To Length (m) Au Pt Pd PGE + AuTotal
27.3 28.4 1.10 0.62 0.11 3.98 4.70
28.4 29.9 1.50 0.64 0.09 2.66 3.39
29.9 31.13 1.23 0.40 0.05 1.59 2.03
31.13 32.00 0.87 0.88 0.17 6.24 7.28
32.0 32.90 0.90 0.28 0.03 0.82 1.13
32.9 34.4 1.50 0.33 0.08 2.01 2.42
34.4 35.9 1.50 0.12 0.06 1.90 2.08
35.9 37.35 1.45 1.30 0.09 2.64 4.03
37.35 37.86 0.51 2.00 0.05 7.68 9.75
TOTAL 27.3 37.86 10.56 0.64 0.08 2.85 3.57
The results for additional drill holes in and around the anomaly are still
awaited.
Bill Anderson, Operations Director, Eurasia Mining said: 'Results from K9
represent a major advance in the realization of the potential of the Kluevsky
Area. It is certainly the best intersection we have obtained to date in Russia
and we look forward to further results from our ongoing work programme'.