Founded and listed on AIM in the nineties, Eurasia commenced working in Russia negotiating interests in a number of Gold, Gold-Copper and Platinum Group Mineral (PGM) projects in the Ural Mountains. As a result of the Rouble Financial Crisis in 1998 the company relinquished the peripheral Gold and Copper interests, strengthening its focus on PGM exploration, and was joined by Anglo Platinum in 2001.
Throughout 1999 and 2000 there was continued development and drilling on the Baronskoye hard rock Palladium (Nickel Copper) deposit. Work began at the West Kytlim alluvial platinum licence area in 2002
In 2003 Eurasia commenced negotiations to acquire interests in three new hard rock PGM projects on the Kola Peninsula in NE Russia and continued work on the Urals alluvial platinum projects.
In 2005, after a moratorium on licence renewals which delayed progress in the Urals, Eurasia signed an agreement to work with Anglo Gold Ashanti, then the world’s second largest gold producer; this afforded access to East Siberian gold opportunities. Agreements were also signed with Anglo Platinum for joint work on the three Kola Peninsula PGM licences. Test mining began at West Kytlim and Eastern Siberian gold reconnaissance continued from the companies Chita office.
The Kola, Uralian and east Siberian projects were all significantly advanced in 2006 and throughout 2007.
At Kola, drilling in 2008 defined three mineralized zones at the Monchetundra Licence with open pit potential; (a total of 16,000m have been drilled at Monchetundra since 2004). Also at Kola a newly discovered zone of PGM’s was outlined at the Volchetundra Licence. First ore reserves were approved on part of the West Kytlim licence and production was expected to commence dependant on the issue of a production licence; however, delays in this process continue.
From 2009 to 2011 ongoing traverse drilling and sampling continued to expand the resource base at West Kytlim. Additional areas of reserves have also been reported and approved within the licence area. Eurasia’s agreement with Anglo Platinum on the Kola Peninsula projects continues. Drilling in 2010 targeted higher grade ore in new areas on the Monchetundra Licence.
In 2010 and 2011 Eurasia conducted follow up assessment of gold projects identified in earlier Eastern Siberian reconnaissance work. This work has now advanced to negotiations for an interest in three gold project licences. Project assessment has also been extended into former Soviet States in Central Asia. The first signing of a Memorandum of Understanding has been for the acquisition of an interest in the Kamushanovsky Uranium project in Kyrgyzstan.