Eurasia Mining plc
("Eurasia" or the "Company")
Drilling results update: West Kytlim
Further to the Exploration Update released on the 12 April 2013, the Company provides the following summary of its drilling operations for 2011 and 2012 at West Kytlim. These drill data have been used in the reserve calculations, also announced on 12 April 2013. For clarity the average grades of mineralization, and the increased reserve at each of the Company's operational areas are here repeated.
As announced on 12 April 2013, the Company has increased its total C2 approved platinum reserves at the West Kytlim alluvial platinum project. Exploration was focused along the terraces of the Tylai and Kosva Rivers and their tributaries over an approximate length of 18 kilometres.
Exploration drilling during 2011 and 2012 (approximately 199 holes) was typically spaced on lines at intervals of 750 to 2,500m; the spacing between lines was 40 to 160m. The holes were from 8-10m to 20-25m deep. More detailed drilling (approximately 100 holes) was spaced on lines from 200 to 400m, with holes spaced 20-40m apart on each line. Hole depths reached 30m, rarely 40m. A further 80 reconnaissance holes were drilled to map the alluvial deposits and 24 large diameter (500-600mm) holes were also drilled in the period - the latter being a requirement of the protocols relating to the Russian C2 reserves standard (see below).
For clarity, the detail of grades encountered during the 2011 and 2012 drilling campaign, and quoted in the reserve update released on the 12 April 2013, is repeated in the table below.
TK Placer Area |
Av Raw Pt grade, (mgm/m3) |
Contained raw Pt, (kg) |
TK Area 1 |
316 |
756.55 |
TK Area 3 |
363 |
121.7 |
TK Area 9 |
303 |
490.3 |
TK Area 2 (part) |
364 |
320.5 |
Current Total C2 |
323 |
1,689 |
It should be noted that these estimates are not provided under the JORC code as alluvial reserve estimates are only used officially in the Former Soviet Union. Instead, C2 Reserves are defined by the requirements of the Russian State Reserves Committee (GKZ). For data to be included under this standard it must have been approved by the Russian State or Federal body.
The requirements for progressively converting the P1 Category Resources on the licence to C2 Reserves for approval for mining includes close spaced traverse drilling, large diameter drilling and trenching to produce bulk sample verification of grade and metallurgical characteristics for processing. It is also a requirement to produce an indicative economic assessment for the outcome of future mining of the reserves. This work is submitted for statutory approval which includes review by an expert commission.
Consent for release
Christian Schaffalitzky, FIMMM, PGeo, 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.
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 |
