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
Project, Northwest Turkey
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan 27, 2014) -
Eurasian Minerals Inc. (the "Company" or "EMX") (TSX-VENTURE:EMX)
(NYSEMKT: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 Çolakoglu Ticari
Yatirim A.S. ("Çolakoglu"), 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. Çolakoglu's drilling and trenching systematically
delineated and expanded the mineralized zones at the Arap,
Kucukhugla, Fula, and Hugla Tepe prospects.
2013 Drill Results. Çolakoglu 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. Çolakoglu'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 (> 0.2
g/t Au over 7 meters), with drill intercept highlights given
below.
Drill Hole |
From (m) |
|
To (m) |
Interval (m) |
Au (g/t) |
Ag (g/t) |
AuEq (g/t) |
|
Comments |
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 > 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, Çolakoglu 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 Çolakoglu'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. Çolakoglu 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 Çolakoglu 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.
Eurasian Minerals Inc.David M. ColePresident and Chief Executive
Officer(303) 979-6666Dave@EurasianMinerals.comEurasian Minerals
Inc.Scott CloseDirector of Investor Relations(303)
973-8585SClose@EurasianMinerals.comwww.EurasianMinerals.com
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