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Eurasia Mining PLC

Publié le 04 juillet 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

Lire la suite de l'article sur www.publicnow.com

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 4,4 milliards GBX (5,3 milliards US$, 4,6 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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