TIDMEUA
RNS Number : 8166V
Eurasia Mining PLC
16 December 2021
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION
WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR
REGULATIONS OF SUCH JURISDICTION.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN EU
REGULATION NO. 596/2014 (AS IT FORMS PART OF RETAINED EU LAW AS
DEFINED IN THE EUROPEAN UNION (WITHDRAWAL) ACT 2018) AND IS IN
ACCORDANCE WITH THE COMPANY'S OBLIGATIONS UNDER ARTICLE 7 OF THAT
REGULATION.
16 December 2021
Eurasia Mining Plc
Tier-1 scale JORC MRE at NKT ex-operating Ni mine
Eurasia Mining Plc ("Eurasia" or the "Company"), the palladium,
platinum, rhodium, iridium and gold producing company, is pleased
to announce a tier-1 scale JORC Mineral Resource Estimate ("MRE")
by Wardell Armstrong International ("WAI") at
Nittis-Kumuzhya-Travyanaya ("NKT") nickel dominant
nickel-copper-PGM mine formerly operated by Norilsk Nickel. NKT is
located within the license area held by TGK, Eurasia's 80% owned
subsidiary in Kola, immediately to the north of the TGK-owned West
Nittis open pit deposit already licenced for mining, where the
mining plan has now been developed for the life of mine.
Highlights:
-- Tier-1 scale: 305Kt of Nickel, 143Kt of Copper, 57 tons of
PGM and Gold (11.2Moz of Platinum equivalent) have been estimated
by WAI as JORC-compliant resources for an underground mining
operation.
-- Nickel is the main metal comprising half of the value in the
metal basket on a Net Smelter Royalty ("NSR") basis.
-- Although significantly lower metal recoveries have
conservatively been assumed for the MRE by WAI, the JORC-compliant
Nickel resource has exceeded the Nickel resource registered in the
Russian State Cadastre of Mines for NKT (please refer to RNS dated
4 December 2019). Metal recoveries remain a significant upside for
the next NKT MRE update.
-- About 2/3 of the resources have been defined as reserves
under Russian classification by Norilsk Nickel, however the drill
core and the trenches have only been analysed for the base metals
(Nickel and Copper) and have not been analysed for platinum group
metals ("PGM") thus limiting the classification to inferred under
the JORC Code due to the application of regression formulas for
PGM. Once all the PGM assays have been completed, this data will be
used for re-estimation and re-classification providing additional
upside for the next NKT MRE update.
-- In order to further upgrade the resource Eurasia has engaged
with SGS and Alex Stewart International for primary and secondary
controls of the PGM assays on the historical drill core and the
trenches by Severonickel / Norilsk Nickel as well as on the
additional confirmatory drilling just done by Eurasia on NKT.
-- The NKT nickel-copper-PGM ore used to be mined and shipped
about 1 km distance to Severonickel, the world's largest nickel
processing plant. Thus, the NKT area is well served with the
infrastructure required for the relaunch of mining and processing
and the tailings are planned to be used as backfill to the old NKT
mine developed in the past following the best practices in ESG and
saving on the tailing storage facility ("TSF") capital
expenditure.
-- The Competent Person's Report ("CPR") has been prepared by
WAI covering the open pit part of the NKT as well as the
underground part of the NKT.
-- Multiple options for the relaunch have been considered and
several case studies have been analysed. A brownfield relaunch like
NKT and Nyud is generally a faster and simpler process than a
greenfield mine launch.
-- The net present value ("NPV") using an 8.33% discount rate
for the underground part of the NKT project is $1.2bn under the WAI
price forecast and $1.7bn under spot prices. Work on the open pit
part is in progress and the NPV of that part will be announced
separately.
-- The wireframe and the block modelling of the high-grade
Nickel, Copper and PGM vein part of the NKT is in progress and
represents another upside to the MRE and the NPV.
-- The MRE under the JORC Code by WAI on other deposits
including on Nyud, another Nickel dominant mine, that (like NKT)
used to be in production, will be released separately.
The 38-page summary of the CPR by Wardell Armstrong
International is available as an embedded link on this RNS and on
Eurasia's website at:
https://www.eurasiamining.co.uk/investors/technical-reports
http://www.rns-pdf.londonstockexchange.com/rns/8166V_1-2021-12-15.pdf
Dr Phil Newall, BSc, PhD, CEng, FIMMM, Director at WAI and Che
Osmond, BSc (Hons), MSc, CGeol, FGS, EurGeol, Technical Director at
WAI have reviewed the update and consent to the inclusion of the
exploration information in the form and context in which it appears
here. They are Competent Persons for the purposes of the reporting
of these results.
Christian Schaffalitzky, Executive Chairman of Eurasia
commented: " The Directors are jubilant to complete an important
milestone of our first of a series of JORC mineral resource
estimates, that the WAI team has been working on since April this
year. We are delighted that a relaunch of the NKT nickel-dominant
mine generates a significant NPV of $1.2-1.7bn under various price
scenarios. Furthermore, the identification of an open pit part as
well as near-surface high-grade veins of the NKT area represent
further upsides. We continue to observe significant interest in
nickel dominant mines, especially in the ones closer to production
like the NKT brownfield relaunch ".
James Nieuwenhuys, CEO and Managing Director of Eurasia
commented: "The Board members are delighted by the outcome of the
hard work done by the Eurasia and Wardell Armstrong International
teams. NKT's nickel and copper resource is well drilled, trenched
and tested and requires further minor assaying for PGM by-products
to upgrade the resources into higher confidence categories. While
we continue to advance our projects with excellent existing
infrastructure, now with added help of state owned Rosgeo and ERDC,
our strategy remains the same: delivering on our promise to
maximise the value for Eurasia shareholders ".
A copy of this announcement is also available on Eurasia's
website at:
https://www.eurasiamining.co.uk/investors/news-announcements.
For further information, please contact:
Eurasia Mining Plc +44 (0) 20 7932 0418
Christian Schaffalitzky / Keith Byrne
SP Angel (Nominated Advisor and Joint Broker)
Ewan Leggat / David Hignell / Adam Cowl +44 (0) 20 3470 0470
Optiva Securities (Joint Broker)
Christian Dennis +44 (0) 20 3137 1902
About Eurasia Mining Plc
Eurasia Mining plc is a 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.
About Wardell Armstrong International
Wardell Armstrong International is a multidisciplinary
Environmental, Engineering and Mining consultancy operating in the
UK and internationally helping clients get the best possible
financial returns - while doing things in a sustainable,
responsible way, continually improving environmental performance in
own activities and in the advice to the clients.
GLOSSARY AND DEFINED TERMS
A
Adit A horizontal passage from the surface into the mine
providing access to a mineral deposit.
Ag Silver. A metallic chemical element with the chemical symbol
Ag (Latin: argentum, from the Indo-European root *arg- for "grey"
or "shining") and atomic number 47. A soft, white, lustrous
transition metal, it has the highest electrical conductivity of any
element and the highest thermal conductivity of any metal. The
metal occurs naturally in its pure, free form (native silver), as
an alloy with gold and other metals, and in minerals such as
argentite and chlorargyrite. Most silver is produced as a
by-product of copper, gold, lead, and zinc refining.
Arsenopyrite A tin-white or silver-white to steel-gray orthorhombic mineral: FeAsS.
Assay A chemical test performed on a sample of ores or minerals
to determine the amount of valuable metals contained.
Au Gold. A chemical element with the symbol Au (from Latin:
aurum "gold") and an atomic number of 79. Gold is a dense, soft,
shiny, malleable and ductile metal. Pure gold has a bright yellow
colour and luster traditionally considered attractive, which it
maintains without oxidizing in air or water. It is one of the least
reactive solid chemical elements. The metal therefore occurs often
in free elemental (native) form, as nuggets or grains in rocks, in
veins and in alluvial deposits.
B
Backfill Waste material together with a binder used to fill the
void created by mining a mineral deposit (orebody).
Back A term used to denote the roof or ceiling of a mining drift.
Ball mill A steel cylinder filled with steel balls into which
crushed ore is fed. The ball mill is rotated, causing the balls to
cascade and grind the ore.
Base metal Any non-precious metal (e.g. copper, lead, zinc, nickel, etc.).
Blasthole A drill hole in a mine that is filled with explosives
in order to blast loose a quantity of rock.
Bulk mining Any large-scale, mechanized method of mining
involving many thousands of tonnes of ore being brought to surface
per day.
Bulk sample A large sample of mineralized rock, frequently
hundreds of tonnes, selected in such a manner as to be
representative of the potential mineral deposit (orebody) being
sampled and used to determine metallurgical characteristics.
Bullion Metal formed into bars or ingots.
By-product A secondary metal or mineral product recovered in the milling process.
C
Cage Mining term used for an elevator.
Calcine Name given to concentrate that is ready for smelting
(i.e. the sulphur has been driven off by oxidation).
Chalcopyrite A sulphide mineral of copper and iron; the most
important ore mineral of copper.
Channel sample A sample composed of pieces of vein or mineral
deposit that have been cut out of a small trench or channel,
usually about 10 cm wide and 2 cm deep.
Chip sample A method of sampling a rock exposure whereby a
regular series of small chips of rock is broken off along a line
across the face, back or walls.
Chute An opening, usually constructed of timber and equipped
with a gate, through which ore is drawn from a stope into mine
cars.
CIM The Canadian Institute of Mining, Metallurgy and Petroleum.
CIM Standards The CIM definitions and standards for mineral
resources and mineral reserves adopted by CIM Council from time to
time. The most recent update adopted by the CIM Council is
effective as of November 27, 2010.
Competent Person
A Competent Person (CP) must have a minimum of five years'
experience working with the style of mineralisation or type of
deposit under consideration and relevant to the activity which that
person is undertaking. A Competent Person must be a Member or
Fellow of the relevant country's Institute of Mining and
Metallurgy, or Institute of Geoscientists, or of a 'Recognised
Professional Organisation'.
Concentrate A fine, powdery product of the milling process
containing a high percentage of valuable metal.
Concession That portion of public mineral land which a party has
staked or marked out in accordance with federal or state mining
laws to acquire the right to explore for and exploit the minerals
under the surface.
Contact A geological term used to describe the line or plane
along which two different rock formations meet.
Core The long cylindrical piece of rock brought to surface by
diamond drilling.
Core sample One or several pieces of whole or split parts of
core selected as a sample for analysis or assay.
Cross-cut A horizontal opening driven from a shaft and (or near)
right angles to the strike of a vein or other orebody. The term is
also used to signify that a drill hole is crossing the
mineralization at or near right angles to it.
Cu Copper. A chemical element with the symbol Cu (from Latin:
cuprum) and atomic number 29. It is a ductile metal with very high
thermal and electrical conductivity. Pure copper is soft and
malleable; an exposed surface has a reddish-orange tarnish. It is
used as a conductor of heat and electricity, a building material,
and a constituent of various metal alloys.
Custom smelter A smelter which processes concentrates from
independent mines. Concentrates may be purchased or the smelter may
be contracted to do the processing for the independent company.
Cut-off grade The lowest grade of mineralized rock that
qualifies as ore grade in a given deposit, and is also used as the
lowest grade below which the mineralized rock currently cannot be
profitably exploited. Cut-off grades vary between deposits
depending upon the amenability of ore to mineral extraction and
upon costs of production.
Cyanidation A method of extracting exposed gold or silver grains
from crushed or ground ore by dissolving it in a weak cyanide
solution. May be carried out in tanks inside a mill or in heaps of
ore out of doors.
Cyanide A chemical species containing carbon and nitrogen used
to dissolve gold and silver from ore.
D
Dacite The extrusive (volcanic) equivalent of quartz diorite.
Decline A sloping underground opening for machine access from
level to level or from surface; also called a ramp.
Development Underground work carried out for the purpose of
opening up a mineral deposit. Includes shaft sinking,
cross-cutting, drifting and raising.
Development drilling
Drilling to establish accurate estimates of mineral resources or
reserves.
Dilution Rock that is, by necessity, removed along with the ore
in the mining process, subsequently lowering the grade of the
ore.
Diorite An intrusive igneous rock composed chiefly of sodic
plagioclase, hornblende, biotite or pyroxene.
Dip The angle at which a vein, structure or rock bed is inclined
from the horizontal as measured at right angles to the strike.
Doré A bar of semi-pure gold and silver usually created at the
site of a mine. It is then transported to a refinery for further
purification. The proportions of silver and gold can vary wildly
with the bar weighing as much as 25 kg. The term is French for
"gilded" or "golden"
Drift A horizontal or nearly horizontal underground opening
driven along a vein to gain access to the deposit.
E
Epithermal Hydrothermal mineral deposit formed within one
kilometre of the earth's surface, in the temperature range of 50deg
to 200degC.
Epithermal deposit
A mineral deposit consisting of veins and replacement bodies,
usually in volcanic or sedimentary rocks, containing precious
metals or, more rarely, base metals.
Exploration Prospecting, sampling, mapping, diamond drilling and
other work involved in searching for or defining a mineral
deposit.
F
Face The end of a drift, cross-cut or stope in which work is
taking place.
Fault A break in the Earth's crust caused by tectonic forces
which have moved the rock on one side with respect to the
other.
Flotation A process in which milled valuable mineral particles
are induced to become attached to bubbles and float as others
sink.
Fold Any bending or wrinkling of rock strata.
Footwall The rock on the underside of a vein or mineralized (ore) structure.
Fracture A break in the rock, the opening of which allows
mineral-bearing solutions to enter. A "cross-fracture" is a minor
break extending at more-or-less right angles to the direction of
the principal fractures.
G
Galena Lead sulphide, the most common ore mineral of lead.
Grade Term used to indicate the concentration of an economically
desirable mineral or element in its host rock as a function of its
relative mass. With gold or silver, this term may be expressed as
grams per tonne (g/t) or ounces per tonne (opt or oz/t).
Gram 0.0321507 troy ounces.
g/t Grams per metric tonne.
gpt Grams per tonne.
H
Hangingwall The rock on the upper side of a vein or mineral (ore) deposit.
High grade Rich mineralization (ore). As a verb, it refers to
selective mining of the best mineralization (ore) in a deposit.
Host rock The rock surrounding a mineral (ore) deposit.
Hydrothermal Processes associated with heated or superheated
water, especially mineralisation or alteration.
I
Indicated Mineral Resource
An Indicated Mineral Resource is that part of a Mineral Resource
for which quantity, grade or quality, densities, shape and physical
characteristics, can be estimated with a level of confidence
sufficient to allow the appropriate application of technical and
economic parameters, to support mine planning and evaluation of the
economic viability of the deposit. The estimate is based on
detailed and reliable exploration and testing information gathered
through appropriate techniques from locations such as outcrops,
trenches, pits, workings and drill holes that are spaced closely
enough for geological and grade continuity to be reasonably
assumed.
Inferred Mineral Resource
A n Inferred Mineral Resource is that part of a Mineral Resource
for which quantity and grade or quality can be estimated on the
basis of geological evidence and limited sampling and reasonably
assumed, but not verified, geological and grade continuity. The
estimate is based on limited information and sampling gathered
through appropriate techniques from locations such as outcrops,
trenches, pits, workings and drill holes.
Intrusive A body of igneous rock formed by the consolidation of
magma intruded into other
J
JORC Code "Joint Ore Reserves Committee". The Australasian Code
for Reporting of Exploration Results, Mineral Resources and Ore
Reserves ('the JORC Code') is a professional code of practice that
sets minimum standards for Public Reporting of minerals Exploration
Results, Mineral Resources and Ore Reserves. The most recent update
is from December 2012.
K
km Kilometre(s).
L
Leaching The separation, selective removal or dissolving-out of
soluble constituents from a rock or ore body by the natural actions
of percolating solutions.
Level The horizontal openings on a working horizon in a mine; it
is customary to work mines from a shaft, establishing levels at
regular intervals, generally about 50 m or more apart.
Limestone A bedded, sedimentary deposit consisting chiefly of calcium carbonate.
Longhole Mining
One of the mining methods used to conduct bulk tonnage mining
underground
M
m Metre(s).
Marble A metamorphic rock derived from the recrystallization of
limestone under intense heat and pressure.
Measured Mineral Resource
A Measured Mineral Resource is that part of a Mineral Resource
for which quantity, grade or quality, densities, shape, physical
characteristics are so well established that they can be estimated
with confidence sufficient to allow the appropriate application of
technical and economic parameters, to support production planning
and evaluation of the economic viability of the deposit. The
estimate is based on detailed and reliable exploration, sampling
and testing information gathered through appropriate techniques
from locations such as outcrops, trenches, pits, workings and drill
holes that are spaced closely enough to confirm both geological and
grade continuity.
Metallurgy The science and art of separating metals and metallic
minerals from their ores by mechanical and chemical processes.
Metamorphic Affected by physical, chemical, and structural
processes imposed by depth in the earth's crust.
Mill A plant in which ore is treated and metals are recovered or
prepared for smelting; also a revolving drum used for the grinding
of ores in preparation for treatment.
Mine An excavation on or beneath the surface of the ground from
which mineral matter of value is extracted.
Mineral A naturally occurring homogeneous substance having
definite physical properties and chemical composition and, if
formed under favorable conditions, a definite crystal form.
Mineralization The process or processes by which mineral or
minerals are introduced into a rock, resulting in a valuable or
potentially valuable deposit.
Mineral Resource
A concentration or occurrence of natural, solid, inorganic or
fossilized organic material in or on the earth's crust in such form
and quantity and of such grade or quality that it has reasonable
prospects for economic extraction. The location, quantity, grade,
geological characteristics and continuity of a mineral resource are
known, estimated or interpreted from specific geological evidence
and knowledge. The term mineral resource covers mineralization and
natural material of intrinsic economic interest which has been
identified and estimated through exploration and sampling and
within which mineral reserves may subsequently be defined by the
consideration and application of technical, economic, legal,
environmental, socio-economic and governmental factors. The phrase
reasonable prospects for economic extraction implies a judgment by
the Qualified Person in respect of the technical and economic
factors likely to influence the prospect of economic extraction. A
mineral resource is an inventory of mineralization that under
realistically assumed and justifiable technical and economic
conditions, might become economically extractable.
N
Net Smelter Return
NSR: A payment made by a producer of metals based on the value
of the gross metal production from the property, less deduction of
certain limited costs including smelting, refining, transportation
and insurance costs.
Ni Nickel. Chemical element with the atomic number 28. It is a
silvery-white lustrous metal with a slight golden tinge. Nickel
belongs to the transition metals and is hard and ductile.
O
Ore or Orebody A term used to denote the mineralization
contained within an economic mineral deposit.
Outcrop An exposure of rock or mineral deposit that can be seen
on surface, that is, not covered by soil or water.
Oxidation A chemical reaction caused by exposure to oxygen that
results in a change in the chemical composition of a mineral.
Ounce A measure of weight in gold and other precious metals,
correctly troy ounces, which weigh 31.1 grams as distinct from an
imperial ounce which weigh 28.4 grams.
oz Ounce
P
Pb Lead. A main-group element in the carbon group with the
symbol Pb (from Latin: plumbum) and atomic number 82. Lead is a
soft, malleable poor metal. It is also counted as one of the heavy
metals. Metallic lead has a bluish-white colour after being freshly
cut, but it soon tarnishes to a dull grayish colour when exposed to
air. Lead has a shiny chrome-silver luster when it is melted into a
liquid.
Pd Palladium. Chemical element with the atomic number 46. It is
a rare and lustrous silvery-white metal discovered in 1803 by the
English chemist William Hyde Wollaston. Palladium, platinum,
rhodium, ruthenium, iridium and osmium form a group of elements
referred to as the platinum group metals (PGMs). They have similar
chemical properties, but palladium has the lowest melting point and
is the least dense of them.
PGM The platinum-group metals (abbreviated to PGM;
alternatively, the platinoids, platinides, platinum group, platinum
metals, platinum family or platinum-group elements (PGEs)) are six
noble, precious metallic elements clustered together in the
periodic table.
Plant A building or group of buildings in which a process or
function is carried out; at a mine site it will include warehouses,
hoisting equipment, compressors, maintenance shops, offices and the
mill or concentrator.
Pt Platinum. Chemical element with the atomic number 78. It is a
dense, malleable, ductile, highly unreactive, precious,
silverish-white transition metal. Its name is derived from Spanish
platina, a diminutive of plata "silver". Platinum is a member of
the platinum group of elements and group 10 of the periodic table
of elements.
Pyrite A common, pale-bronze or brass-yellow, mineral. Pyrite
has a brilliant metallic luster and has been mistaken for gold.
Pyrite is the most wide-spread and abundant of the sulphide
minerals and occurs in all kinds of rocks.
R
Raise A vertical hole between mine levels used to move ore or
waste rock or to provide ventilation or access.
Ramp An inclined underground tunnel which provides access for
exploration or a connection between levels of a mine.
Reclamation The restoration of a site after mining or
exploration activity is completed.
Recovery Rate A term used in process metallurgy to indicate the
proportion of valuable material obtained in the processing of an
ore. It is generally stated as a percentage of the material
recovered compared to the total material present.
Refining The final stage of metal production in which impurities
are removed from the molten metal.
Refractory ore Ore that resists the action of chemical reagents
in the normal treatment processes and which may require pressure
leaching or other means to effect the full recovery of the valuable
minerals.
Rod mill A steel cylinder filled with steel rods into which
crushed ore is fed. The rod mill is rotated, causing the balls to
cascade and grind the ore.
S
Shaft A vertical passageway to an underground mine for moving
personnel, equipment, supplies and material including ore and waste
rock.
Shoot A concentration of mineral values; that part of a vein or
zone carrying values of ore grade.
Sill A term used to denote the floor of a mining level or drift.
Also, used to denote a mining level developed on mineralization or
an orebody.
Skarn Name for the metamorphic rocks surrounding an igneous
intrusive where it comes in contact with a limestone or dolostone
formation.
Sphalerite A zinc sulphide mineral; the most common ore mineral of zinc.
Stockpile Broken mineralization (ore) heaped on surface, pending
treatment or shipment.
Stope An area in an underground mine where mineralization (ore) is mined.
Strike The direction, or bearing from true north, of a vein or
rock formation measured on a horizontal surface.
Stringer A narrow vein or irregular filament of a mineral or
minerals traversing a rock mass.
Sulphides A group of minerals which contains sulphur and other
metallic element such as copper and zinc. Gold is usually
associated with sulphide enrichment in mineral deposits.
T
Tailings Material rejected from a mill after most of the
recoverable valuable minerals have been extracted.
Tailings pond A low-lying depression used to confine tailings,
the prime function of which is to allow enough time for heavy
metals to settle out or for cyanide to be destroyed before water is
discharged into the local watershed.
Tier 1 Tier 1 deposits are "Company making". They are large,
long life and low cost. Using long run commodity prices it
generates >$300-600m pa of revenue and is in the bottom quartile
of the cost curve. It has very robust economics and will be
developed irrespective of where we currently are in the business
cycle and whether the deposit has been fully drilled out. It is
expected that project's economics will achieve >12% IRR
after-tax.
Tonne A metric ton of 1,000 kilograms (2,205 pounds).
Tunnel A horizontal underground opening, open to the atmosphere
at both ends.
V
Vein A fissure, fault or crack in a rock filled by minerals that
have travelled upwards from some deep source.
W
Wall rocks Rock units on either side of a mineral deposit
(orebody). The hanging wall and footwall rocks of a mineral deposit
(orebody).
Waste Unmineralized, or sometimes mineralized, rock that is not
minable at a profit.
Z
Zn Zinc. From the German Zink, or spelter (which may also refer
to zinc alloys), is a metallic chemical element; it has the symbol
Zn and atomic number 30. It is the first element in group 12 of the
periodic table. Zinc is, in some respects, chemically similar to
magnesium, because its ion is of similar size and its only common
oxidation state is +2. Zinc is the 24th most abundant element in
the Earth's crust and has five stable isotopes. The most common
zinc ore is sphalerite (zinc blende), a zinc sulphide mineral.
Zone An area of distinct mineralization.
Acronyms and Abbreviations
Abbreviation Term Abbreviation Term
------------- ------------------------------------------- ------------- -------------------------------------------
AA(S) Atomic Adsorption (Spectrometry) ID Identification, i.e. drill hole ID
------------- ------------------------------------------- ------------- -------------------------------------------
AES Atomic Emission Spectrometry IDW Inverse Distance Weighting
------------- ------------------------------------------- ------------- -------------------------------------------
ALS ALS Minerals (formerly ALS Chemex Labs IFC International Finance Corporation
Ltd).
------------- ------------------------------------------- ------------- -------------------------------------------
ASL or asl Above Sea Level (e.g. masl) IP Induced Polarisation
------------- ------------------------------------------- ------------- -------------------------------------------
ASM Artisanal & Small-scale Mining/Miners kg Kilogramme(s)
------------- ------------------------------------------- ------------- -------------------------------------------
Au Chemical abbreviation for Gold Kt or kt/a Kilotonnes or Kilotonnes per annum
------------- ------------------------------------------- ------------- -------------------------------------------
BLEG Bulk Leach Extractable Gold LIDAR Light Detection and Ranging (aerial survey
method)
------------- ------------------------------------------- ------------- -------------------------------------------
BSc Bachelor of Science LIMS Laboratory Information Management System
------------- ------------------------------------------- ------------- -------------------------------------------
BWI Bond Work Index m Metre(s)
------------- ------------------------------------------- ------------- -------------------------------------------
CGeol Chartered Geologist m(2) Metre square
------------- ------------------------------------------- ------------- -------------------------------------------
cm Centimetre(s) m(3) Cubic metre(s)
------------- ------------------------------------------- ------------- -------------------------------------------
COG Cut-Off grade M Million(s)
------------- ------------------------------------------- ------------- -------------------------------------------
CRM Certified Reference Material mm millimetres
------------- ------------------------------------------- ------------- -------------------------------------------
DDH Diamond Drill Hole MSc Master of Science
------------- ------------------------------------------- ------------- -------------------------------------------
DTM Digital Terrain Model Mt or Mtpa Million tonnes or Million tonnes per annum
------------- ------------------------------------------- ------------- -------------------------------------------
EOH End of Hole NGO Non-Governmental Organization
------------- ------------------------------------------- ------------- -------------------------------------------
ESIA Environmental and Social Impact Assessment NSR Net Smelter Return
------------- ------------------------------------------- ------------- -------------------------------------------
EurGeol (Registered) European Geologist OK Ordinary Kriging
------------- ------------------------------------------- ------------- -------------------------------------------
FA Fire Assay PGeol Professional Geologist
------------- ------------------------------------------- ------------- -------------------------------------------
FGS Fellow of the Geological Society ppm / ppb Parts per million /parts per billion
------------- ------------------------------------------- ------------- -------------------------------------------
g grams QAQC Quality Assurance Quality Control
------------- ------------------------------------------- ------------- -------------------------------------------
g/t grams/tonne QP Qualified Person
------------- ------------------------------------------- ------------- -------------------------------------------
Ga Giga annum or billions of years SEDAR System for Electronic Document Analysis
and Retrieval ( www.sedar.com )
------------- ------------------------------------------- ------------- -------------------------------------------
GA Gravimetric Analysis SFA Screened Fire Assay
------------- ------------------------------------------- ------------- -------------------------------------------
GNSS Global Navigation Satellite System SG Specific Gravity
------------- ------------------------------------------- ------------- -------------------------------------------
GRG Gravity Recoverable Gold t Metric tonne (1,000 kg or 2,204.63 lbs)
------------- ------------------------------------------- ------------- -------------------------------------------
GPS Global Positioning System t/d or tpd Tonnes per day
------------- ------------------------------------------- ------------- -------------------------------------------
H Hour(s) t/h or tph Tonnes per hour
------------- ------------------------------------------- ------------- -------------------------------------------
Ha Hectare(s) USA/US United States of America/United States
------------- ------------------------------------------- ------------- -------------------------------------------
ICP Inductively coupled plasma XRF X-ray Fluorescence
============= =========================================== ============= ===========================================
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UPDZZMMZMKDGMZZ
(END) Dow Jones Newswires
December 16, 2021 02:00 ET (07:00 GMT)
Eurasia Mining (LSE:EUA)
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