Project Highlights

Operating Platinum and Gold mine
2017 - First full season of production
2,283 Kg raw Pt in Reserves, 1,400 kg Pt Resource
2017 Resource upgrade drilling completed
Capital and Operating costs sold to a contractor for a 70% of top line sales
EUA upgrade concentrates and manage metal sales

Operating platinum and Gold Mine in the Ural Mountains

After an initial successful trial mining operation late in 2016, production recommenced at West Kytlim in spring 2017 for the project’s first full season of mining. Work is currently focused on developing the Malaya Sosnovka Area which holds greater than 100Kg (3,500 ounces) raw platinum. Free digging river sediments are trucked to a washplant consisting of a series of vibrating screens, where material is washed and separated by clast size. Heavy platinum and gold bearing nuggets are collected on a sluice to form a black sand concentrate which is upgraded in an onsite laboratory to saleable product. Alluvial mining is a low cost, environmentally friendly and capital efficient mining solution, and a proven route to success for junior mining companies.

Sequence of exploration and development

In the process of early reconnaissance, data was collected and processed for 211 reported occurrences of which West Kytlim was the stand out target in the Central Urals. The Kytlim region has produced circa 50 tonnes of alluvial platinum to date.

The first drilling results from exploration at West Kytlim were announced in April 2005. Grades of up to 500 mg/m3 were discovered, well above the minimum 100 mg/m3 required to be economic. Work has progressed from the original discovery of buried placers in tributaries of the Tylai River to the river terraces of both the Tylai and Kosva Rivers (see sections below).

History of Urals alluvial platinum mining.

Alluvial Platinum was first discovered in the Ural Mountains in 1824, since then the region has yielded in excess of 500 tonnes of platinum mined from a number of placer fields, the largest of which is estimated to have produced more than 240 tonnes. The fields comprise natural, gravity-driven economic concentrations of platinum and very minor gold formed in stream and river sediments eroded and drained from platinum bearing ultramafic complexes.

Placers of this type are attractive development targets owing to their often high concentrations of platinum and relatively low-tech and low cost mining and processing requirements.

Urals Geology

The Urals ultramafic rocks (peridotite, pyroxenite and dunite), were formed in an ancient rift zone and later upthrust into the Urals as part of the mountain building collision between the Siberian and European Cratons during the Hercynian Orogeny. Tectonic activity in the Urals extended over a very long geological time frame and included six phases of post-Triassic uplift. Previous mapping of the distribution of high energy sediment accumulations which were formed in association with intense erosion during these uplift phases, indicate the potential for elevated concentrations of platinum within these sediments.

It was the potential for these sequential erosion phases to form separate layers of platinum buried beneath much younger placers that ignited Eurasia’s interest in conducting Urals Platinum Exploration.