Eurasia Mining plc (LON: EUA) has lodged an application for a new exploration license area, Tipil, with the relevant authorities in Russia.
Tipil is adjacent to West Kytlim, where Eurasia has been mining for platinum and palladium for some time.
READ: Eurasia Mining beginning to build scale in platinum group metals portfolio, helped by track record of competence in Russia
The new Tipil license contains approximately 17 kilometres of river course and sedimentary units proven to host platinum group metals deposits at the West Kytlim project.
"In line with our strategy to expand the production volumes at West Kytlim, even as the 2019 mining season is ongoing, we are again utilising one of our company's other core competencies, i.e. our in-house expert knowledge of geology and the Russian licensing system, to further increase our presence in the West Kytlim area,” said Eurasia chairman Christian Schaffalitzky.
“We are now established as a dominant player in the PGM space in the region and look to developing an operation providing a low cost PGM solution that is sustainable over potentially several decades.”