Moscow, Jan 3 (TIWN / IANS) At least 38 bodies have been recovered following a New Year's Eve gas explosion in the Russian city of Magnitogorsk that caused an apartment building to collapse, authorities said on Thursday.

A spokesperson for the regional emergency services said that the death toll rose after another victim was pulled out of the rubble, Efe news reported citing Russian news agency Interfax. 

On Monday, a large blast, believed to have been caused by a gas explosion, caused a section of the 10-storey Soviet-era block of flats to collapse. In all, 48 flats -- home to 120 people -- were wrecked.

Hundreds of people had been deployed to assist with the rescue operation.

Authorities had warned that due to the low temperatures, around the -20 degrees Celsius (-4 degrees Fahrenheit) mark, the chance of finding survivors under the debris lessened with each passing hour.