Eurasian Minerals Reports Oxide Drill Results of 4.0 Meters Averaging 52.87 g/t Gold and 530.43 g/t Silver for the Akarca Pro...
27 1월 2014 - 11:10PM
Marketwired Canada
Eurasian Minerals Inc. (the "Company" or "EMX") (TSX VENTURE:EMX) (NYSE
MKT:EMXX) is pleased to announce 2013 year-end exploration results from the
Akarca gold-silver project. These results include an oxide drill intercept of
68.0 meters averaging 3.43 g/t gold and 34.71 g/t silver, with a high-grade
sub-interval of 4.0 meters averaging 52.87 g/t gold and 530.43 g/t silver. In
addition to drilling, trench sampling returned results that include 50 meters
averaging 4.06 g/t gold and 3.25 g/t silver. This recently concluded exploration
program was conducted by Colakoglu Ticari Yatirim A.S. ("Colakoglu"), a
privately owned Turkish company that signed an option agreement in June 2013 to
buy the property for a combination of cash payments, gold bullion, work
commitments, and a royalty interest. Colakoglu's drilling and trenching
systematically delineated and expanded the mineralized zones at the Arap,
Kucukhugla, Fula, and Hugla Tepe prospects.
2013 Drill Results. Colakoglu recently reported exploration results that
included 62 drill holes totaling approximately 6,200 meters. This drilling
consisted of 26 core holes totaling approximately 2,500 meters and 36 reverse
circulation holes totaling over 3,700 meters. Colakoglu's 2013 program focused
on expanding and drill defining the grade and tonnage characteristics of the
near-surface, oxide gold-silver mineralized zones at the Arap, Kucukhugla, Fula
and Hugla Tepe prospects. Drilling was conducted at a nominal 25 to 50 meter
spacing along strike. Over 80% of the holes intersected significant
mineralization (greater than 0.2 g/t Au over 7 meters), with drill intercept
highlights given below.
----------------------------------------------------------------------------
Drill From To Interval Au Ag AuEq Comments
Hole (m) (m) (m) (g/t) (g/t) (g/t)
----------------------------------------------------------------------------
ARAP TEPE PROSPECT
----------------------------------------------------------------------------
AKC-80 0.0 69.6 69.6 0.93 3.73 1.00 TD = 156.6m, oxidized,
true width 55-60%,
extension of high-grade
zone
------------------------------------------
including 5.6 7.6 2.0 18.65 9.29 18.82
----------------------------------------------------------------------------
AKC-90 2.2 60.6 58.4 0.91 6.33 1.02 TD = 95m, oxidized, true
width 50-55%, extended
zone to the north
------------------------------------------
including 37.3 48.0 10.7 3.01 5.17 3.10
----------------------------------------------------------------------------
AKC-102 15.4 84.6 69.2 0.75 4.76 0.83 TD = 95.2m, oxidized,
true width 65-70%.
Confirmed mineralization
in the western portion of
Arap Tepe
------------------------------------------
including 61.6 81.7 20.1 1.50 7.02 1.63
----------------------------------------------------------------------------
ARC-112 0.0 91.0 91.0 0.41 1.65 0.44 TD = 140m, oxidized, true
width 50%, expanded zone
to the south
----------------------------------------------------------------------------
ARC-113 0.0 88.0 88.0 0.39 1.67 0.42 TD = 141.0, oxidized,
true width 50%, expanded
mineralization to the
south
----------------------------------------------------------------------------
ARC-114 1.0 77.0 76.0 0.40 1.32 0.42 TD = 78m, oxidized, true
width 50%, expanded
mineralization to the
south
----------------------------------------------------------------------------
ARC-116 8.0 72.0 64.0 0.47 1.54 0.50 TD = 126.5m, oxidized,
true width 50%, expanded
mineralization to the
south
----------------------------------------------------------------------------
ARC-138 5.0 45.0 40.0 1.93 2.32 1.97 TD = 72.5m, oxidized to
42m, true width 50-55%,
extended zone to south
and east
------------------------------------------
including 36.0 39.0 3.0 14.90 10.30 15.09
----------------------------------------------------------------------------
ARC-139 0.0 61.0 61.0 0.53 1.47 0.55 TD = 100m, oxidized, true
width 50-55%, confirmed
mineralization within the
zone
----------------------------------------------------------------------------
KUCUKHUGLA TEPE PROSPECT
----------------------------------------------------------------------------
AKC-81 0.0 65.4 65.4 0.70 6.80 0.83 TD = 101.9m, oxidized,
true width 50%, extended
zone to depth
----------------------------------------------------------------------------
AKC-89 19.6 97.6 78.0 0.51 3.80 0.58 TD = 145m, oxide to 54m,
true width 60-65%,
extended zone to the
southwest
----------------------------------------------------------------------------
ARC-147 0.0 11.0 11.0 0.81 15.19 1.09 TD = 120m, oxidized, true
width 35%, a 20m offset
from AKC-78 to determine
the extent of high-grade
mineralization. Includes
20-21m: 1 m @ 171.00 g/t
Au, 1710.00 g/t Ag.
---------------------------------------------------
19.0 87.0 68.0 3.43 34.71 4.06
------------------------------------------
including 19.0 23.0 4.0 52.87 530.43 62.51
----------------------------------------------------------------------------
FULA TEPE PROSPECT
----------------------------------------------------------------------------
AKC-105 11.3 18.3 7.0 6.58 63.12 7.72 TD = 131.7m, oxidized,
true width 70%, extended
zone to the SW, zone open
to the west
----------------------------------------------------------------------------
ARC-132 12.0 27.0 15.0 1.41 20.62 1.78 TD = 108m, oxidized, true
width 50%, extended
mineralization east of
Fula Tepe
------------------------------------------
49.0 88.0 39.0 0.80 12.54 1.03
----------------------------------------------------------------------------
ARC-135 2.0 21.0 19.0 1.59 12.27 1.81 TD = 105m, oxidized, true
width 50%, extended the
width of zone and to
depth
------------------------------------------
61.0 96.0 35.0 0.99 1.90 1.02
----------------------------------------------------------------------------
ARC-143 11.0 61.0 50.0 1.12 6.85 1.25 TD = 120m, oxidized, true
width 55%, confirmed
mineralization within the
zone
------------------------------------------
including 28.0 47.0 19.0 2.36 12.52 2.59
----------------------------------------------------------------------------
ARC-144 44.0 75.0 31.0 1.33 2.94 1.38 TD = 175m, oxidized, true
width 35-40%,confirmed
mineralization within the
zone
----------------------------------------------------------------------------
ARC-146 7.0 44.0 37.0 0.94 19.21 1.29 TD = 150m, oxidized, true
width 55-60%, extended
mineralization to the
east, mineralization
still open to the east
------------------------------------------
including 19.0 22.0 3.0 6.35 138.77 8.87
------------------------------------------
130.0 138.0 8.0 0.58 1.31 0.60
----------------------------------------------------------------------------
HUGLA TEPE PROSPECT
----------------------------------------------------------------------------
ARC-127 12.0 59.0 47.0 0.66 4.81 0.75 TD = 96.5, oxidized, true
width 40-45%, confirmed
zone along strike to the
east
----------------------------------------------------------------------------
Notes: Intervals reported at a nominal 0.2 g/t Au cutoff and minimum length of
7m. Internal dilution allowance of up to 3.5m, with exceptions of up to 7m for
intervals greater than 30m. Au equivalent calculated as 55:1 Ag:Au ratio, and
assumes that metallurgical recoveries and net smelter returns are 100%. Core
holes have an AKC prefix and RC holes have an ARC prefix.
Significant advancements were made at Fula Tepe where drilling extended the
broad zone of veining and silicification to a strike length of over 400 meters.
The Fula Tepe vein system remains open along strike to the northeast, and has
new in-parallel zones identified to the northwest and southeast. The Hugla Tepe
prospect was drilled along 600 meters of strike length, and also remains open to
the northeast. Drilling at Kucukhugla Tepe focused on a 250 meter long
higher-grade segment within a zone of mineralization that has an overall strike
length of 650 meters. The high-grade intervals intercepted in ARC-147 are viewed
as significant because they appear to be a continuation of similar higher-grade
mineralization intercepted in hole AKC-78 drilled 20 meters to the southeast.
AKC-78 contained an intercept of 7 meters at 10.12 g/t gold and 87.78 g/t silver
(see Company news release dated August 22, 2013).
On the eastern side of the property, drilling at Arap Tepe defined a 400 meter
long, shallow oxide gold-silver zone that remains open along strike to the east
and the west. The Percem Tepe prospect also remains a top exploration priority,
and was drilled earlier in 2013 with an intercept of 101 meters averaging 1.25
g/t gold and 7.95 g/t silver in hole AKC-74 (see Company news release dated
March 1, 2013). A distinctive feature of Percem Tepe is the extensive zones of
mineralized hydrothermal breccias that have been mapped throughout the area.
In total, from June to early December 2013, Colakoglu drilled 67 holes totaling
approximately 6,800 meters (see Company news release dated August 22, 2103 for
results from the first five holes). A key result of Colakoglu's aggressive 2013
drill program was the further expansion of the Arap, Kucukhugla, Fula, and Hugla
Tepe prospects, all of which remain open along strike.
2013 Trench Results. Colakoglu also completed approximately 1,900 meters of
surface trenching at the Arap, Hugla and Fula Tepe prospects. Trenching is an
important exploration tool at Akarca for locating gold-silver mineralization
under cover and defining the zones across strike. At Fula Tepe, trench sampling
broadened and extended the zone to the northwest, west and southwest. Trench
TAK-41, located approximately 100 meters southwest of outcropping quartz veins,
included 51 meters @ 0.50 g/t gold and 6.20 g/t silver. Trenches TAK-49 and
TAK-50 extended mineralization approximately 100 meters to the northwest with 71
meters @ 1.02 g/t gold and 7.66 g/t silver and 42 meters @ 0.85 g/t gold and
9.57 g/t silver, respectively. The trenching at Arap Tepe continued to identify
mineralization along strike and under cover 130 meters from the main mineralized
zone. Results include 50 meters @ 4.06 g/t gold and 3.25 g/t silver in trench
TAK-24. Trench intercept true widths across the zones are interpreted to be
85-95% of the reported lengths.
Other 2013 Work. In addition to drilling and trenching, systematic mapping and
sampling work continued across the project area, which led to the identification
of new, previously unrecognized zones of mineralization and veining and enhanced
definition of previously known gold-silver zones. Other programs being conducted
by Colakoglu include metallurgical test work and environmental assessment
studies.
Akarca Property Overview. The Akarca project consists of six epithermal
gold-silver mineralized zones occurring within a district-scale area. EMX's
grassroots discovery and subsequent exploration successes at Akarca have led to
in-the-ground investments of over US $7 million by partner companies.
About EMX. Eurasian is a global gold and copper exploration company utilizing a
partnership business model to explore the world's most promising and
underexplored mineral belts. Eurasian generates wealth via grassroots prospect
generation, strategic acquisition and royalty growth.
Mr. Michael P. Sheehan, CPG, a Qualified Person as defined by National
Instrument 43-101 and employee of the Company, has reviewed, verified and
approved the disclosure of the technical information contained in this news
release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release may contain "forward looking statements" that reflect the
Company's current expectations and projections about its future results. When
used in this news release, words such as "estimate," "intend," "expect,"
"anticipate," "will" and similar expressions are intended to identify
forward-looking statements, which, by their very nature, are not guarantees of
the Company's future operational or financial performance, and are subject to
risks and uncertainties and other factors that could cause Eurasian's actual
results, performance, prospects or opportunities to differ materially from those
expressed in, or implied by, these forward-looking statements. These risks,
uncertainties and factors may include, but are not limited to: unavailability of
financing, failure to identify commercially viable mineral reserves,
fluctuations in the market valuation for commodities, difficulties in obtaining
required approvals for the development of a mineral project, increased
regulatory compliance costs, expectations of project funding by joint venture
partners and other factors.
Readers are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date of this news release or as of the
date otherwise specifically indicated herein. Due to risks and uncertainties,
including the risks and uncertainties identified in this news release, and other
risk factors and forward-looking statements listed in the Company's MD&A for the
nine-month period ended September 30, 2013 (the "MD&A") and most recently filed
Annual Information Form for the year ended period ended December 31, 2012 (the
"AIF"), actual events may differ materially from current expectations. More
information about the Company, including the MD&A, the AIF and financial
statements of the Company, is available on SEDAR at www.sedar.com and on the
SEC's EDGAR website at www.sec.gov.
A map is available at the following address:
http://media3.marketwire.com/docs/924081a.pdf.
FOR FURTHER INFORMATION PLEASE CONTACT:
Eurasian Minerals Inc.
David M. Cole
President and Chief Executive Officer
(303) 979-6666
Dave@EurasianMinerals.com
Eurasian Minerals Inc.
Scott Close
Director of Investor Relations
(303) 973-8585
SClose@EurasianMinerals.com
www.EurasianMinerals.com
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