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Eurasia Mining PLC

Publié le 22 octobre 2014

Award of Discovery Certificate

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Award of Discovery Certificate



Award of Discovery Certificate

Eurasia Mining plc

("Eurasia" or the "Company")

Eurasia Mining plc is pleased to announce that it has been granted a Discovery Certificate for a 21.5km2 area of alluvial platinum reserves on the Tylai-Kosvinsky Placer at its West Kytlim exploration licence in the Urals, Russia. The Discovery Certificate is awarded for a new discovery of platinum (with minor gold) and gives Eurasia exclusive rights to apply for and obtain a production licence.

Eurasia has been developing its West Kytlim project since 2003. In 2008, Eurasia was granted a Discovery Certificate that covered a single area of reserves near the original discovery site at Bolshaya Sosnovka. A mining licence, if issued for that area, would have covered reserves sufficient only for a single site operation, despite the recognised potential for further reserves within the known Placer. For this reason, the Company decided to continue exploration and since 2008 has considerably increased reserves at West Kytlim, allowing for multiple site production and an extended life of mine.

The Mining Licence application is fully prepared and is now being lodged. It contains a description of financing arrangements and a demonstration of the capacity of the Company and contracted technical specialists to plan and implement the necessary works.

Commenting on the news, Christian Schaffalitzky said: "We are delighted that we have received this award as it provides us with a secure base on which to build our mine. In receiving this certificate, it allows the company to attribute value to the project for the first time. We look forward to advancing the permitting over the coming months and plan to keep shareholders updated on progress.  We are still hopeful that we can break ground next summer".

Contacts:

For more information please contact:

Eurasia Mining:

Christian Schaffalitzky / Michael de Villiers

Tel: +44 (0) 207 932 0418

Katy Mitchell, WH Ireland Limited

Tel: +44 (0) 161 832 2174


This information is provided by RNS
The company news service from the London Stock Exchange
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Eurasia Mining PLC

PRODUCTEUR
CODE : EUA.L
ISIN : GB0003230421
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Eurasia M est une société de production minière de nickel et de palladium basée au Royaume-Uni.

Eurasia M est productrice de nickel, de palladium, de cobalt, de cuivre, d'ilmenite, d'or, de platine, de rhodium, de titane et de vanadium in Russia.

Ses principaux projets en production sont KOLA PENINSULA et KOLA PENINSULA in Russia et ses principaux projets en exploration sont URALS PLATINUM PROJECT et URALS BEDROCK in Russia.

Eurasia M est cotée au Royaume-Uni. Sa capitalisation boursière aujourd'hui est 14,8 milliards GBX (17,7 milliards US$, 15,5 milliards €).

La valeur de son action a atteint son plus haut niveau récent le 15 mai 1998 à 95,00 GBX, et son plus bas niveau récent le 24 novembre 2017 à 0,00 GBX.

Eurasia M possède 1 858 369 208 actions en circulation.

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Communiqués de Presse de Eurasia Mining PLC
01/08/2016Loan Agreement and Issue of Equity
28/07/2016Platinum refining and sales agreements
27/07/2016West Kytlim Mining operation update - July 2016
14/07/2016Audited results for the year ended 31 December 2015
13/07/2016Annual Results
04/07/2016Semenovsky Tailings Project & receipt of assays
30/06/2016Result of AGM
21/06/2016Mining start-up at West Kytlim
07/06/2016Annual Results for the 12 months ended 31 Dec 2015
31/05/2016Issue of Equity and Repayment of Debt
25/05/2016Contract Mining at West Kytlim
12/05/2016Issue of Equity
14/04/2015Business Milestone & Strategic Plan Update
27/11/2014Mining Licence Update
22/10/2014Award of Discovery Certificate
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