Monchetundra Licence Kola Peninsula
Project at a glance
- Reserves Report and Mine Feasability Study filed in December 2016
- Positive assessment by Ministry of Mines opens the path to Discovery Certificate and Mining License application
- EPC contract signed with Sino Steel corporation for a 130,000oz (pt eq) per annum facility.
Geology of the region
The Kola Peninsula, in the sparsely populated Murmansk region borders Finland and Norway in the far Northwest of Russia. Geological exploration and mining drove the population of the peninsula which until the early 20th Century was inhabited only by the Saami people and occasional Russian trappers. The Kola Superdeep Borehole Project close to Pechanga, north of Murmansk, attempted to drill as deep as possible into the earth's crust. Drilling began in 1970 and continued intermittently to 1989 when the project was discontinued for technical and financial reasons at a final depth of 12,262 metres and downhole temperatures of 180oC.
The Kola Peninsula forms the eastern margin of the archean Baltic Shield. This ancient terrane is punctuated by numerous ultramafic igneous bodies of Paleoproterozoic age, some of which are layered intrusions analogous to the Bushveld Compled in South Africa. Eurasia's interests lie in the central part of the Kola Peninsula near the city of Monchegorsk, at the contact of three such intrusions; namely the monchegorsk Magmatic Complex, Monchepluton, and the Nittis-Kumuzhya-Travyanaya (NKT) Massif. This massif, within and adjacent to Eurasia's licence, was extensively drilled for base metal mineralisation and mined for sulphidic copper nickel mineralisation from 1937-1971. Eurasia's discovery proves the potential of the structure for Platinum Group Mineralisation (PGM).
History of exploration and development
Eurasia’s interests in hard rock projects in the Kola Peninsula date to 2006 when it acquired three licences from local vendors, two of which have since been surrendered. By 2008, operating in a joint venture with Anglo Platinum, Eurasia have drilled a total of 16,000m of drill core. Within the Monchetundra licence, exploration is now focused on the West Nittis area following up on the 2011 discovery holes MT-79 and MT-86. 2013 drilling confirmed steeply dipping North-South trending zones of mineralisation contained within a series of chalcopyrite-rich veins and veinlets in brecciated shear zones. These zones are open along strike and down dip and will be further tested in 2015.The figure below shows the West Nittis target within Eurasia’s 38Km2 Monchetundra licence area.
The Loipishnune area in the southeast of the licence remains a distinct target of lower grade PGM. Two lodes, lodes 1 and 2, were identified in 2008 and were drilled to a strike length of 750m and 420m respectively, and to a vertical depth of circa 200m. This podiform mineralisation reaches grades of 3.58 Pt+Pd over 15m.
West Nittis target area on the Monchetundra licence.
2015/16 geochemistry in the West Nittis Area
Eurasia continue to work with the established Kola Geological Expedition in Monchegorsk who since 2006 have helped manage their drilling campaigns on the Kola Peninsula.