Eurasia Mining PLC

Published : July 04th, 2016

Semenovsky Tailings Project & receipt of assays

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Semenovsky Tailings Project & receipt of assays

Eurasia Mining plc (AIM: EUA)

('Eurasia' or the 'Company')

Semenovsky Tailings Project update and receipt of assays

Eurasia Mining plc,('Eurasia') the Russia focused PGM and gold production and development company, here working in partnership with Metal Tiger plc ('MTR'), is pleased to update progress from the Semenovsky Tailings Project (STP), most importantly the receipt of assay results from the 2016 metallurgical drilling programme.

As reported in RNS dated 26 April 2016, a drilling programme was carried out on site and the samples sent to SGS Chita for assay and subsequent metallurgical analysis. The testing program is considered in three phases. Phase 1a, fire assay of samples, phase 1b, bottle-roll cyanide-leach testing, and phase 2, optimisation of leach variables. The assay results returned for the 54samples collected in phase 1a are in line with previous estimates, and the grades used previously in Eurasia's resource calculations. This work is a necessary step in planning the design of the processing plant, as well as confirming the grade of the tails and the reliability of previous workers sampling.

Highlights:

· 54 fire assay results returned from SGS laboratories Chita, return an average grade of 1.16 g/t gold and 17.3 g/t silver.

· Results are in line with expected values obtained from previous sampling programmes, lending additional support to reserve calculations

· These grades are high for tailings, providing a robust project for re-treatment and recovery of gold.

The depth of the tailings dam varies from six to eleven metres on average and this recent sampling program was designed to test the complete column of sands through to underlying clays below the tailings foundation. 5 drill holes were evenly spaced over the 1.5km tailings dam. Results are tabulated in full below. The sands were logged and individually bagged on site in Semenovsky by Eurasia geologists. Gold values are obtained by fire assay with an atomic absorption analysis finish and the silver values by atomic absorption method.

Separately, a reserves report was submitted to local authorities on the 30 May 2016 and this is continuing through the normal approvals process at the Bashkirian Ministry for Subsoil use.

Christian Schaffalitzky, Managing Director at Eurasia Mining comments 'We are pleased to have independent verification of grade at the Semenovsky Tailings Project. Having worked in Russia for many years we are familiar with the excellent standard of Russian geological assessments and have complete faith in the Russian system of mineral resource definition but working in partnership with MTR, are duty bound to provide normal due diligence confirmation. We now look forward to results of gold recovery tests which will allow us to refine the design of the process plant and optimize the mining operation.'

Consent for release

EurGeol Christian Schaffalitzky, FIMMM, PGeo, MIEI, CEng, is a director of the Company. He has reviewed the update and consents to the inclusion of the exploration information in the form and context in which it appears here. He is a Competent Person for the purposes of the reporting of these results.

Hole ID

Width (m)

Au, g/t

Ag, g/t

16 МЕТ-01-1

1

0.8

8.8

16 МЕТ-01-2

1

0.88

9.7

16 МЕТ-01-3

1

0.94

19.8

16 МЕТ-01-4

1

1.5

26.2

16 МЕТ-01-5

1

1.29

19.6

16 МЕТ-01-6

1

1.4

19.7

16 МЕТ-01-7

1

1.03

10.7

16 МЕТ-01-8

1

0.96

10.6

16 МЕТ-01-9/1

0.5

1.14

14.4

16 МЕТ-01-9/2

0.5

0.82

9.8

16 МЕТ-01-10/1

0.5

0.89

10.3

16 МЕТ-02-1

1

0.59

7.5

16 МЕТ-02-2

1

0.76

12.8

16 МЕТ-02-3

1

0.81

12.5

16 МЕТ-02-4

1

1.23

27.9

16 МЕТ-02-5

1

1.12

22.8

16 МЕТ-02-6

1

1.45

21.4

16 МЕТ-02-7

1

1.61

15.8

16 МЕТ-02-8/1

0.5

1.7

12.6

16 МЕТ-02-8/2

0.5

1.99

15.2

16 МЕТ-02-9

1

1.57

11.7

16 МЕТ-02-10/1

0.5

1.6

9.5

16 МЕТ-03-1

1

1.37

19.1

16 МЕТ-03-2

1

0.92

10.6

16 МЕТ-0З-З

1

1.33

13

16 МЕТ-03-4

1

1.04

25

16 МЕТ-0З-5

1

0.85

23.7

16 МЕТ-0З-6

1

1.15

19.3

16 МЕТ-03-7/1

0.5

0.94

17.7

16 МЕТ-03-7/2

0.5

0.98

9.4

16 МЕТ-04-1

1

1.04

15.2

16 МЕТ-04-2

1

1.84

21.8

16 МЕТ-04-3

1

1.98

30.2

16 МЕТ-04-4

1

1.66

30.3

16 МЕТ-04-5

1

0.94

20.4

16 МЕТ-04-6

1

0.98

14.9

16 МЕТ-04-7

1

0.96

9.6

16 МЕТ-05-1

1

1.04

26.9

16 МЕТ-05-2

1

1.14

8.4

16 МЕТ-05-3

1

0.84

20

16 МЕТ-05-4

1

0.73

24.6

Total metres

37

Width averaged gold grade g/t

1.16

Width averaged silver grade g/t

17.3

Enquiries:

Eurasia Mining Plc

Christian Schaffalitzky/Michael de Villiers

+44 (0)207 932 0418

WH Ireland Limited

Katy Mitchell/Liam Gribben

+44 (0)161 832 2174

Beaufort Securities

Elliot Hance

+44 (0)207 382 8300

Read the rest of the article at www.publicnow.com
Data and Statistics for these countries : Ireland | Russia | All
Gold and Silver Prices for these countries : Ireland | Russia | All

Eurasia Mining PLC

PRODUCER
CODE : EUA.L
ISIN : GB0003230421
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Eurasia M is a nickel and palladium producing company based in United kingdom.

Eurasia M produces nickel, palladium, cobalt, copper, gold, ilmenite, platinum, rhodium, titanium and vanadium in Russia.

Its main assets in production are KOLA PENINSULA and KOLA PENINSULA in Russia and its main exploration properties are URALS PLATINUM PROJECT and URALS BEDROCK in Russia.

Eurasia M is listed in United Kingdom. Its market capitalisation is GBX 9.7 billions as of today (US$ 11.6 billions, € 10.1 billions).

Its stock quote reached its highest recent level on May 15, 1998 at GBX 95.00, and its lowest recent point on November 24, 2017 at GBX 0.00.

Eurasia M has 1 858 369 208 shares outstanding.

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Corporate news of Eurasia Mining PLC
8/1/2016Loan Agreement and Issue of Equity
7/28/2016Platinum refining and sales agreements
7/27/2016West Kytlim Mining operation update - July 2016
7/14/2016Audited results for the year ended 31 December 2015
7/13/2016Annual Results
7/4/2016Semenovsky Tailings Project & receipt of assays
6/30/2016Result of AGM
6/21/2016Mining start-up at West Kytlim
6/7/2016Annual Results for the 12 months ended 31 Dec 2015
5/31/2016Issue of Equity and Repayment of Debt
5/25/2016Contract Mining at West Kytlim
5/12/2016Issue of Equity
4/14/2015Business Milestone & Strategic Plan Update
11/27/2014Mining Licence Update
10/22/2014Award of Discovery Certificate
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