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Eurasia Mining Feasibility Study For The Kluchiki

Mining News - Published on Wed, 12 Jun 2019

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Eurasia Mining PLC said that the feasibility study for the Kluchiki area of the West Kytlim mine has been approved by Russian authorities. Currently, a revised reserve calculation is also scheduled for approval by the Russian government. The reserves were recalculated after infill drilling performed in 2018 expanded the ore bodies at the location and upgraded the reserves to the C1 category from C2.

In addition, a new strategy for reserves approvals has been adopted by Eurasia. Through an upcoming single drilling program, all C2 reserves at all areas on the West Kytlim licence are to be upgraded to the C1 category. The 2,600-metre shallow drilling program, of which 140 metres has already been drilled at the Bolshaya Sosnovka area, is fully funded. The drilling is expected to be completed in 2019 in parallel with mining.

Chair Christian Schaffalitzky, said that "The new drilling program is designed to save time and cost by reducing the reporting required for approvals at individual sites. It also creates the potential to open the project up to much greater production volumes and, by potentially lifting the majority of ore to higher reserve categories, could increase the market value of the asset. We look forward to updating on the program as it progresses throughout this year."

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Posted By : Rabi Wangkhem on Wed, 12 Jun 2019
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