Eurasia Mining has confirmed it has made a second platinum group metals (pgms) discovery on the Kola peninsula in north-west Russia.

Initial findings have revealed platinum and palladium values of between one and 2.9 grammes at the site at Monchetundra, the exploration of which was funded by Eurasia's joint venture partner Anglo Platinum.

Eurasia Managing Director Christian Schaffalitzy said: "Coming so soon after our earlier discovery announcement at nearby Volchetundra, this is a very encouraging set of results. We now plan a programme of grid drilling to identify a mineral resource with economic potential."

News of the discovery comes as figures from Eurasia last month revealed that its mine at Volchetundra, which is also part of the joint venture with Anglo, is expected to yield platinum with grades of between 1.9 and 1.1 grams per tonne.

The joint venture, which covers a total of 150 sq m on the Kola Peninsula, also includes a section in West Imandra, where early assessment of the area's resources is currently underway.

Source: Eurasia Mining says second platinum discovery confirmed at Kola, Russia

15/04/07

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