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Eurasia reports progress at Semenovsky project

By BFN News | 09:27 AM | Tuesday 26 April, 2016


Eurasia Mining reports further progress at the Semenovsky tailings project in Bashkiria, Russia. The company says the Russian pre-feasibility study equivalent - the TEO of Conditions - which was submitted to Bashnedra, the local Bashkirian Mines Department, has now been approved and metallurgical testing of the STP is now fully under way with 5 metallurgy focused drill holes completed and core logging by Eurasia geologists is on-going. Metallurgical samples have been shipped from the site to Ekaterinburg to be prepared for onward shipment for metallurgical analysis with results to follow shortly thereafter. Managing director Christian Schaffalitzky said: "Approval of the TEO of conditions is a major step forward for the STP and allows us to continue at pace with our other due diligence work and to lay the foundations for the commencement of processing plant construction later in the year. "We are also very pleased to see activity on the ground at Semenovsky with the metallurgical testing under way. This is a very key part of our project due diligence and we look forward to receiving, analysing and releasing the findings to market at the earliest opportunity. "Plant construction at Semenovsky is scheduled to commence in Q4 2016 subject to satisfactory completion of remaining due diligence and timing of final permits." At 9:27am: (LON:EUA) Eurasia Mining PLC share price was +0.05p at 0.75p Story provided by StockMarketWire.com

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