Eurasia Mining PLC
14 January 2004
Eurasia Mining plc (The Company) is pleased to announce the award of a
prospecting permit on the Kliprivier area in South Africa's Bushveld.
The permit area lies adjacent to two of the Bushveld's promising platinum group
metal (PGM) projects - Anglo Platinum's Der Brochen project to the north and
Aquarius Platinum's Everest South project immediately to the north-east.
Eurasia plans an early drilling programme, commencing next month.
The programme will test an extension of the UG2 Reef which is commercially
productive in other parts of the Bushveld. Kliprivier may also include local
occurrences of the Merensky Reef, also commercially productive elsewhere. Most
importantly, a large basinal structure determined by geophysics and geology will
be tested as it is a target for a possible multi-million ounce PGM resource.
The prospecting permit has been granted to Masedi Platinum Ltd, the Company's
90% subsidiary. The other 10% of Masedi is held by private local interests.
Commenting on the award of the permit, Eurasia's Managing Director Christian
Schaffalitzky, said: 'We have held private mineral rights at Kliprivier covering
3340 hectares since late 2001 and are delighted to have at last overcome the
administrative and legal delays that held back our planned exploration
programme. We are currently inviting tenders for drilling work, and look forward
to resuming the programme that was interrupted last year.'
For further information contact:
Christian Schaffalitzky, Eurasia Mining PLC: +44 (0) 20 7976 1222
David Youngman, W H Ireland Ltd: +44 (0) 161 832 6644
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