🕐03.12.09 - 16:23 Uhr
Eurasian Reports Drill Intercept of 28.4 Meters Averaging 20.45 g/t Gold at Grand Bois
3rd Floor 570 Granville Street, Vancouver, British Columbia, Canada V6C
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Tel: (604) 688]6390 Fax: (604) 688]1157
www.eurasianminerals.com
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Eurasian Minerals Inc.
NEWS RELEASE
Eurasian Reports Drill Intercept of 28.4 Meters Averaging 20.45 g/t Gold at
Grand Bois
Property, Haiti
Vancouver, British Columbia, December 3, 2009 (TSX Venture: EMX) -- Eurasian
Minerals Inc.
(the
"Company" or "EMX") is pleased to announce initial drill results from the
Grand Bois property in Haiti.
These results include uncapped, oxide intercepts starting from surface of
28.4 meters averaging 20.45 g/t
gold and 21.4 meters averaging 10.19 g/t gold.
In addition, the drilling
returned significant copper
intercepts below the oxide gold zone, including 54.5 meters averaging 0.44
percent copper, with
additional assays from underlying intervals still pending.
The current drill
program was designed to
confirm historic drill results and a historic, non-NI 43-101 compliant gold
resource, as well as test for
additional zones of gold and copper mineralization.
Grand Bois is a
Designated Project with joint venture
partner Newmont Ventures Limited (Newmont or NEM), a wholly owned
subsidiary of Newmont
Mining Corporation.
Please see attached map for more information.
Initial Grand Bois Drill Results.
The seventeen hole Grand Bois diamond
drill campaign has been
completed, and assays received for 884.2 meters of the 2,231 total meters
drilled.
The program was
designed to confirm previous drill results, test geochemical anomalies
peripheral to the historic resource
area, and assess the Rivage Ridge zone located approximately 750 meters
southwest of the resource area.
The initial drill results are summarized and discussed by target area below.
Hole ID TD
From
(m)
To
(m)
Length
(m)
Au
g/t
Cu
% Comments
GBDH-001 248.41 88.0 99.0 11.0 - 0.16 Rivage Ridge: (89% recovery)
GBDH-001.1 15.24 anomalous gold & copper Rivage Ridge: 10.7 m @ 0.21 g/t Au
and 459
ppm Cu.
Shallow re-drill.
(36% recovery)*
GBDH-002 146.81 anomalous copper Resource periphery: 30.4 m of Cu averaging
212 ppm in 3 separate zones.
GBDH-003 151.49 anomalous copper Resource periphery: 48% of the drill
intervals
assay > 100 ppm Cu.
0.0 21.0 21.0 1.15 - GBDH-004 181.36 33.5 88.0 54.5 - 0.44
Resource area: Assays pending from 91.0 to
181.36.
(68 - 93% recovery)*
GBDH-006 164.90 13.9 24.2 10.3 - 0.24 Resource periphery: Assays pending
from
78.5 to 164.9 m.
(88% recovery)*
GBDH-009 24.38 3.0 24.4 21.4 10.19 - Resource area: (58% recovery)*
Including 3.0 13.9 10.9 18.08 - Note: includes 2 high grade intervals of
0.3m
@ 80 g/t and 0.7m @ 52.3 g/t Au.
GBDH-011 30.60 2.2 30.6 28.4 20.45 - Resource area: (57% recovery)*
Including 3.3 14.7 11.4 47.63 -
Note: includes three high grade intervals of
0.8m @ 138.1 g/t, 1m @ 84.7 g/t, and 1.1m
@ 209.2 g/t Au.
Significant intervals are reported for gold at a 0.3 g/t cutoff and for
copper at a 0.1% cutoff.
The minimum length for a
significant interval is seven meters.
*Average core recoveries are given for
the reported intervals.
Historic resource area: Assay results have been reported for three out of
seven holes.
- GBDH-009 and -011 were short, twinned vertical holes that tested a
northwest trending gold zone
originally defined by historic UN drilling.
GBDH-009 returned 21.4 meters
averaging 10.19 g/t
gold and 64.89 g/t silver, including a sub-interval of 10.9 meters averaging
18.08 g/t gold and 101.8
g/t silver.
GBDH-011 reported 28.4 m averaging 20.45 g/t gold and 63.2 g/t
silver, including a
3rd Floor 570 Granville Street, Vancouver, British Columbia, Canada V6C
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subinterval of 11.4 meters averaging 47.63 g/t gold and 127.1 g/t silver.
These twin hole results are
reasonably consistent for both the grade and thickness of the gold zone.
Historic UN drill results
from two vertical drill holes within ten meters of the EMX-NEM holes include
DDH-01 with 24.3
meters averaging 2.55 g/t gold and GBS-A11 with 25.0 meters averaging 5.06
g/t gold.
- GBDH-004 tested the eastern limit of the historic resource zone, returning
21 meters from the
surface averaging 1.15 g/t gold.
Historic UN drilling collared within four
meters of GBDH-004
intersected 29.0 meters averaging 0.96 g/t gold.
In addition, copper
intercepts below the gold zone
include 54.5 meters averaging 0.44% copper.
Assays are pending for intervals
from 91-181.4
meters.
The copper assays confirm results from a limited number of historic
drill holes that also
intersected copper mineralization below the oxide gold zone, including 0.62%
copper over 53.5
meters (64.9-118.4 m, hole DDH-1).
Zones peripheral to the resource area: A series of four holes were drilled
at distances of 145 to
220 meters peripheral to the historic resource area.
Assays have been
received for three of these
holes (GBDH-002,-003,-006), all having either anomalous or significant
copper intervals to the
northwest, west, and southwest of the historic resource area.
Rivage Ridge zone.
Five holes were drilled to test northwest trending
gold-in-soil anomalies (i.e., >
0.1 g/t Au) over the Rivage Ridge target zone.
Final assay results are in
for two holes (GBDH-001
and shallow re-drill GBDH-001.1).
GBDH-001 intersected a copper zone
underlying a strongly
anomalous gold-copper oxide zone at surface intersected by GBDH-001.1.
The initial Grand Bois drill results either confirm, or return higher gold
grades than previous drill results
in the historic resource area.
Drilling peripheral to the historic resource
consistently intersected either
significant or anomalous copper mineralization, and the early stage results
from the Rivage Ridge zone
indicate the occurrence of anomalous gold and copper mineralization.
Grand Bois Property Overview.
The Grand Bois property covers an area of 50
square kilometers of
mineral rights in northern Haiti.
Grand Bois is entirely surrounded by EMX
exploration licenses.
Newmont can earn 65% interest in the property by funding 100% of the initial
USD$10 million
expenditures on the project, or b) completing a positive feasibility study
on the property within the first
six years, whichever comes first.
Newmont is responsible for exploration
expenditures on the project as
governed by a Designated Projects Joint Venture Agreement, until such time
as it earns its interest.
The Grand Bois gold deposit as currently defined is roughly circular in
outline, with dimensions of 300
by 350 meters, and consists of a poorly consolidated tabular body of
mineralized and oxidized volcanic
rock.
The mineralized zone is located on the top and flank of a hill
(elevations range from 580-720 m),
that would have a favorable stripping ratio for a potential open-pit
operation.
The property has undergone four historic drill campaigns totaling more than
7500 meters.
The United
Nations Development Program (UNDP) produced a non-NI 43-101 compliant
historical resource
estimate, termed a geological reserve, of 4.3 million tonnes averaging
2.24 g/t gold (Focsa, et al., 1986,
Le Gisement dor de Grand Bois/Limbe.
Project HAI/84/016-02-P01 UNDP/BME).
The UNDP
historical "geological reserve" does not use the resource and reserve
categories as defined in NI 43-101
and a Qualified Person has not performed sufficient work to classify the
historical estimate as current
mineral resources.
EMX is not treating the estimate as current mineral
resources, and it should not be
relied upon until it can be confirmed by the Company.
However, the
drill-delineated Grand Bois gold
mineralized deposit described by the UNDP report is considered relevant.
3rd Floor 570 Granville Street, Vancouver, British Columbia, Canada V6C
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Comments on Sampling, Assaying, and QA/QC.
The 2009 EMX-NEM core drilling
program averaged
89% recovery.
The reported significant intervals averaged 70%, and ranged
from 36% to 93% recovery.
Holes GBDH-009 and GBDH-011 both averaged approximately 58% recovery for the
reported high
grade intervals.
The reported intercepts are interpreted to be approximately
true thickness, except for
GBDH-009 and GBDH-011, where current understanding of possible high-angle
structural control is
unclear.
The EMX-NEM drill samples were collected in accordance with accepted
industry standards and
procedures.
The samples were submitted to the ACME Labs (ISO 9001:2000
accredited) in Santiago
Chile for analysis.
Gold was analyzed by fire assay with an AAS finish, and
multi-element analyses were
determined by ICP MS/AAS techniques.
Over limit gold assays (> 10 g/t) were
re-analyzed by fire assay
with a gravimetric finish.
Over limit silver (> 100 g/t) and copper (> 1%)
were re-analyzed by ICP AAS
finish.
EMX conducts routine QA/QC analysis on all assay results, including
the systematic utilization of
certified reference materials, blanks and field duplicates.
Mr.
Michael P.
Sheehan, P.Geo., a Qualified Person as defined by National
Instrument 43-101 and
consultant to the Company, has reviewed and verified the technical
information contained in this news
release.
EMX is exploring and investing in a first class mineral property and royalty
portfolio in some of the most
prospective, but under-explored mineral belts of the world.
-30-
For further information contact:
David M.
Cole Kim C.
Casswell
President and Chief Executive Officer Corporate Secretary
Phone: (303) 979-6666 Phone: (604) 688-6390
Email: Email:
Website: www.eurasianminerals.com
Neither TSX Venture Exchange nor the Investment Industry Regulatory
Organization of Canada accepts
responsibility for the adequacy or accuracy of this release.
Forward-Looking Statement:
Some of the statements in this news release contain forward-looking
information that involves inherent risk and
uncertainty affecting the business of Eurasian Minerals Inc.
Actual results
may differ materially from those
currently anticipated in such statements.
3rd Floor 570 Granville Street, Vancouver, British Columbia, Canada V6C
3P1
Tel: (604) 688]6390 Fax: (604) 688]1157
www.eurasianminerals.com
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