Vancouver, British Columbia, 27. January 2014 (TSX Venture: EMX; NYSE MKT: EMXX) - Eurasian Minerals Inc. (the "Company" or "EMX") announces its exploration results in the Xarumx gold-silver project Akarca; Inter alia, a 2013 meter thick oxide section intersected with 68,0 g / t gold and 3,43 g / t silver on average. This includes a 34,71 meter powerful, highly mineralized segment (average 4,0 g / t gold and 52,87 g / t silver). In addition to the drilling, excavation samples were taken; among other things a 530,43 meter powerful section with average 50 g / t gold and 4,06 g / t silver intersected. The recently completed exploration program was led by Çolakoglu Ticari Yatirim AS ("Çolakoglu"), a Turkish private company that signed an option agreement to acquire the property in June 3,25. The concession price consisted of cash payments, gold bars, work commitments, and fees. As part of the drilling and excavation Çolakoglu could systematically delineate and extend the mineralization zones at Arap, Kucukhugla, Fula and Hugla Tepe.
2013 drill results. Çolakoglu recently submitted exploration results from 62 drill holes totaling 6.200 meters of drilling. The drilling consisted of 26 core holes totaling approximately 2.500 meters and 36 RC holes totaling 3.700 meters. During 2013 drilling, Çolakoglu focused primarily on expanding and defining the ore grade and production volumes from oxide gold-silver mineralization targets in the near-surface area of the Arap, Kucukhugla, Fula and Hugla Tepe target zones. The drilling was nominally spaced between 25 and 50 meters along strike. Significant mineralization (> 80 g / t Au over 0,2 meters) was intersected in more than 7% of the holes. The best intersections are shown in the table below.
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Significant progress has been made at Fula Tepe, where drilling has extended the powerful vein and silicification zone to a strike length of over 400 meters. The Fula Tepe vein system is still open along strike to the northeast; new, parallel zones were identified in the northwest and southeast. In the Hugla Tepe target, drilling was completed over a strike length of 600 meters; the zone is also open to the northeast. Drilling at Kucukhugla Tepe focused on a 250 meter long segment within a zone of mineralization with a total strike length of 650 meters. The high grade intersections intersected in the ARC-147 well are considered significant as they appear to be a continuation of similar high grade mineralization intersected 20 meters farther southeast in AKC-78 well. The AKC-78 hole contained a section of 7 meters with 10,12 g / t gold and 87,78 g / t silver (see 22 company news release August 2013).
On the east side of the property, drilling at Arap Tepe has defined an 400 meter long near-surface oxide-gold-silver zone that remains open along strike to the east and west. Percem Tepe remains a high-level exploration target; 2013 drilling has already begun, with a section intersecting average 74 g / t gold and 101 g / t silver in hole AKC-1,25 7,96 Meter (see 1 Company News Release, March 2013). A characteristic feature of Percem Tepe are the extensive zones of mineralized hydrothermal breccia that have been mapped throughout the area.
Between June and early December, 2013 drilled Çolakoglu's total of 67 holes to approximately 6.800 meters (for the results of the first five holes, please refer to the 22's company press release, August 2013). One of the major achievements of Xrolum Xolumoglu's extensive drilling was the additional expansion of the Arap, Kucukhugla, Fula and Hugla Tepe target areas, all of which are open along strike.
Results of excavations 2013. Çolakoglu also performed surface excavations at approximately 1.900 meters in the Arap, Hugla and Fula Tepe target areas. Digging is an important exploration effort to find Akarca gold-silver mineralization under a topcoat and define zones along strike. With the extraction of trench samples from Fula Tepe, the zone could be enlarged and extended to the northwest, west and southwest. Excavation TAK-41, which was conducted approximately 100 meters southwest of exposed quartz veins, yielded 51 meters with an ore content of 0,50 g / t gold and 6,20 g / t silver. Excavations TAK-49 and TAK-50 extended mineralization by approximately 100 meters to the northwest. The 71 meters were found to contain 1,02 g / t gold and 7,66 g / t silver or 42 meters grading 0,85 g / t gold and 9,57 g / t silver. The excavations at Arap Tepe were continued to identify the mineralization along strike and under a cover 130 meters from the main mineralized zone. Results include a section of 50 meters grading 4,06 g / t gold and 3,25 g / t silver in TAK-24 excavation. The true widths of the trench sections in these zones are estimated to be 85-95 percent of the reported lengths.
Further activities 2013. In addition to drilling and excavation, systematic mapping and sampling throughout the project area also took place. This led to the identification of new, as yet unknown zones of mineralization and veins and thus to the redefinition of the already known gold-silver zones. In addition, Çolakoglu also carried out metallurgical analyzes and environmental impact assessments.
Overview of the Akarca Property The Akarca Project consists of six epithermal zones of gold-silver mineralization spread over a large area. EMX's base discoveries and subsequent exploration efforts at Akarca have resulted in partner companies investing over $ 7 million.
About EMX. Eurasian is a global gold and copper exploration company dedicated to exploring the world's most promising and underdeveloped mineral belts through a partnership model based business model. Eurasian generates its income from the acquisition of basic projects, strategic acquisitions and the expansion of its holdings.
Michael P. Sheehan, CPG, as a Qualified Person under the National Instrument 43-101 and as an employee of the Company, has reviewed, verified and approved the technical information in this news release.
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For more information, please contact:
David M. Cole Scott Close
President & Chief Executive Officer Director of Investor Relations
Tel: (303) 979-6666 Tel: (303) 973-8585
Email: ppgad@pucrs.br Email: ppgad@pucrs.br
Website: www.EurasianMinerals.com
The TSX Venture Exchange and its regulators (referred to in the Articles of Association of the TSX Venture Exchange as Regulation Services Providers) accept no responsibility for the adequacy or accuracy of this announcement.
Forward-looking statements
This press release may contain forward-looking statements based on the current expectations and estimates of the company regarding future results. In connection with this press release, words such as "estimate," "intend," "expect," "will," and similar expressions are intended to identify forward-looking statements that by their nature are not guarantees of the future operations and financial condition of the company. You are subject to risks, uncertainties and other factors that could cause Eurasian's actual results, performance, projections or opportunities to be materially different from those expressed or implied by such forward-looking statements. These risks, uncertainties and factors may include unavailability of funds, failure to find economically viable mineral reserves, fluctuations in the market value of goods, difficulties in obtaining permits to mine mineral resources, increasing the cost of meeting regulatory requirements , Expectations regarding project financing through joint venture partners and other factors.
Readers are advised not to place undue reliance on forward-looking statements that are made with reference to the date of this press release or a date specified in the release. Due to risks and uncertainties, including the risks and uncertainties discussed in this news release, as well as other risk factors and forward-looking statements contained in management's comments and analyzes for the nine months ended September 30, 2013 (“MD&A”) and In the most recent annual report for the year ended December 31, 2012 (“AIF”), actual events may differ materially from current expectations. Additional information about the company, including the MD&A, the AIF and the company's financial statements, is available on SEDAR (www.sedar.com) and on the SEC's EDGAR website (www.sec.gov).
To view the full press release please follow the link:
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Source: IRW-Press.com.
