Eurasia Mining PLC Successful step up to Production at West Kytlim (1302W)
06 February 2017 - 11:17PM
UK Regulatory
TIDMEUA
RNS Number : 1302W
Eurasia Mining PLC
06 February 2017
Eurasia Mining plc (AIM: EUA)
("Eurasia" or the "Company")
Successful step up to Production at West Kytlim during 2016
Eurasia can now report on the final results of the initial
mining season at its 75% owned West Kytlim Alluvial Platinum and
Gold Mine ("West Kytlim"). Mining at West Kytlim is seasonal with
gravel washing possible in a weather window between the months of
April and November. The 2016 operation commenced in the later half
of this season (See RNS dated 27 July 2016) as mining and other
permits became available. Site facilities and infrastructure were
put in place ahead of first gravel washing which commenced in the
first weeks of September and continued to early November.
A total of 11.3kg raw platinum were produced through the season,
with some credits from Palladium (32g), Iridium (350g), Rhodium
(49g) and Gold (56g). Two washplants employing different processing
schemes were tested on site to further improve knowledge of the
washability of the near surface reserves at the Malaya Sosnovka
Area. Sluice concentrates from these washplants were upgraded
onsite to a raw platinum product which was refined by and sold to a
Precious Metals Refinery in Ekaterinburg. The larger of the two
washplants had downtime due to minor breakage caused by the passing
of heavier gravel and cobbles through the system. Modifications to
ensure continuous operation of this washplant have been discussed
and will be realized ahead of the 2017 season.
The average mining grade was 449 milligrams per cubic metre. It
should be noted that mining grades were notably higher than
expected. Average grade of gravels mined was 120% of reserves
grade.
A further update on our mining plan for 2017, an outcome of
detailed discussions held in Ekaterinburg in the last week of
January with our contractors operating the West Kytlim Mine, as
well as updates to the agreement with the contractor will follow
this announcement directly.
Christian Schaffalitzky, MD at Eurasia commented 'Having met
with our contractors this past week in Ekaterinburg we are
confident that the 2016 mining season was managed well by both the
Eurasia and the contractor's personnel. The season was also
successful in terms of becoming familiar with the operating
environment, mining machinery and the nature of the ore to be
worked, essential elements in an alluvial mining operation. We now
look forward to a full mining season in this 2017, preparation for
which is already well advanced.'
Enquiries:
Eurasia Mining Plc
Christian Schaffalitzky/Michael de Villiers
+44 (0)207 932 0418
WH Ireland Limited
Katy Mitchell/Nick Prowting
+44 (0)161 832 2174
Beaufort Securities
Elliot Hance
+44 (0)207 382 8300
This information is provided by RNS
The company news service from the London Stock Exchange
END
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