Platinum exploration licence prolonged
The test drilling on the Monchetundra south of Murmansk will continue after Eurasia Mining got its licence extended for a further two years.
The extended licence is valid to December 2012, reports Dow Jones Newswires.
The Monchetundra mineralised zone was discovered in 2005, and test drilling so far has shown promising results of Palladium and possilbe other metals. Eurasia Mining intends to focus on developing mine plans and additional drilling is underway.
The area in question is located west of the city of Monchegorsk, some 150 kilometres south of Murmansk on Russia’s Kola Peninsula.
