Tipil License

RNS Number : 5768V

Eurasia Mining PLC

10 August 2020

 

EURASIA MINING PLC

("Eurasia" or "the Company")

Tipil License

Eurasia Mining plc, the palladium, platinum, rhodium, iridium and gold producing company, operating the established West Kytlim Mine in the Urals, and also the operator of the Monchetundra Project comprising two predominantly palladium open pit deposits,  located 3km away from Severonickel, one of Norilsk Nickel's largest base metals and PGM processing facilities, near the town of Monchegorsk on the Kola Peninsula, is pleased to announce that the Company has been granted the Tipil exploration license (24.5km²) adjacent and to the west of the current mining permit at West Kytlim.

The Tipil license (24.5km ² ) contains approximately 17 kilometres of river course and sedimentary units proven to host PGM deposits at the West Kytlim project. Geological data and historical mining information has been analysed by the Company's geologists and a report compiled which justified the application as a new exploration license tenement. 

More information about the Tipil license has been provided in the announcements dated 9 April 2020, 4 December 2019 and 17 June 2019.

Comments

Christian Schaffalitzky, Executive Chairman commented: "The Directors are pleased with the permitting progress achieved across all of our projects. Further announcements will be made as appropriate".

ENQUIRIES:

Eurasia Mining Plc

Christian Schaffalitzky/ Keith Byrne

[phone]

SP Angel Corporate Finance LLP (Nomad and Joint Broker)

Ewan Leggat / David Hignell / Soltan Tagiev

[phone]

Optiva Securities (Joint Broker)

Christian Dennis

Tel: [phone]

The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014

 

END

 

 

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