Eurasia Mining PLC
4 February 2000
Eurasia Mining PLC announces Further
Positive Baronskoye Exploration Results
With Potential Additional Palladium-Gold Zones
A newly completed geochemical survey at Baronskoye, Eurasia Mining PLC open
cut PGM project in the Ural Mountains has provided excellent definition of
near surface mineralisation trends both along strike and parallel to the
previously drilled ore zone at the Baronskoye Palladium-Gold Project.
A total of 953 samples were collected at 10 metre intervals along traverses
located from 40 to 100 metres apart. The first results obtained cover an area
extending approximately 450 metres away from the drilled discovery zone. The
results define an anomaly over the length of the survey with
palladium-platinum-gold signatures similar to the grades obtained in soils
above the previously reported discovery bedrock mineralisation which averaged
21.0 g/t Pd, 4.6 g/t Au and 0.6 g/t Pt.
The results also show two new, strong, parallel anomalous zones to the east
and west of the discovery ore zone. The occurrence of these two additional
zones greatly enhances the tonnage potential amenable to open pit mining on
this part of the licence area.
The remaining samples from the survey which will test further extensions of
these anomalies over a total length of 5.5 kms are in the process of
preparation for export for analysis in Canada.
Further resource definition drilling is planned after receipt and
interpretation of the remaining geochemical sample results.
Andrew Counsell, Managing Director, said 'We are greatly encouraged by the
potential for additional near surface ore at Baronskoye and our strengthening
position for the commencement of mining operations. This encouraging
development follows our announcement in early December of excellent stream
sediment sampling with a much greater high grade potential than had been
expected and confirms our view of the tremendous potential available at this
operation.
Developments at Baronskoye coincide with positive changes in the Russian
Federal Law on Mineral Resources which now enable Mining Licences to be
issued, without tender, to holders of Exploration Licences making new
discoveries. The change from 13 January 2000 not only expedites the
development of Baronskoye but also removes a major legislative concern
impeding foreign investment into mine exploration in Russia'.
Listing: Alternative Investment Market, London Stock Exchange
Code: EUA
Web Site: www.eurasia-mining.plc.uk
Email: info@eurasia-mining.plc.uk
For further information please contact:
Andrew Counsell, Managing Director Tel: +44 20 7976 1222
Paddy Manning, The Paddy Manning Company Tel: +44 20 7930 0777
14-16 REGENT STREET, LONDON SW1Y 4PH
TEL: 44 171 976 1222 FAX: 44 171 976 1422
HEAD OFFICE AND REGISTERED OFFICE COMPANY NO: 3010091