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Eurasia Mining Plc
Summary
| Project: | Monchetundra | |
|---|---|---|
| Deposit: | Monchetundra | |
| Location: | Russia | |
| Commodities: | Gold-Platinum-Palladium-Copper-Nickel-Sulphur | |
| Date: | 5/31/2017 | |
| Report Code: | (other Code) | |
| Report Type: | Resource Estimation | |
| Project Stage: | Mine Development | |
| Report details: | 31-5-2017: Eurasia Mining Plc announces a Resource Estimation report for its Monchetundra deposit at the Monchetundra project. Initial Russian standard reserves approved by state. Eurasia Mining plc ("Eurasia" or the "Company"), the platinum and gold prod | |
| Resources: | (Reserve, C1+C2): 27,805Mt @ 0.56g/t Pt, 1.08g/t Pd, 0.1% Cu, 0.11% Ni, 2.02% Ni at project | |
| CP/QP: | [Resources]: Christian Schaffalitzky (Internal) | |
| ABSTRACT: | Eurasia Mining plc ("Eurasia" or the "Company"), the platinum and gold production company, announces that the Reserves Report and Feasibility Study for the Monchetundra palladium and platinum Project, submitted in late December 2016 (see RNS dated 22 December 2016), have now been approved by the Russian State Agency for Subsoil Use ("Rosnedra"). These Maiden Reserves are the first to be approved on the Monchetundra License. The notice regarding their approval at the State Commission on Mineral Reserves ("GKZ") was given on the 03 April 2017 (see RNS dated 03 April 2017) after which the report progressed to Rosnedra. These Reserves and Resources are attributable to Eurasia's 80 per cent owned Terskaya Mining Company ("TGK").Christian Schaffalitzky, Managing Director of Eurasia commented, "This is an incredibly important development at our Monchetundra Project which we have been working on for more than 10 years now."Much of the 30 kilometers ("km") of drilling on the license was financed through a Joint Venture with Anglo American Platinum who sold their equity to Eurasia in 2014. Since that time, Eurasia have managed to continue to advance the project through to the Feasibility Study and Reserves approval, Engineering Procurement and Construction ("EPC") contract and financing - a considerable undertaking for an exploration company with a very limited budget."This excellent result has come considerably quicker than we had anticipated, as the Reserves Report and the Feasibility Study were only submitted for approval on the 31st December 2016.” | |
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