🕐05.03.10 - 10:28 Uhr
EMX Drills 7.25 meters of 3.22 g/t Gold at the Akarca JV Project, Turkey
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Thursday, March 04, 2010
EMX Drills 7.25 meters of 3.22 g/t Gold at the Akarca JV Project, Turkey
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Vancouver, British Columbia, March 4, 2010 (TSX Venture: EMX) - Eurasian
Minerals Inc.
(the "Company" or "EMX") is pleased to announce drill results
from the Akarca gold-silver project in Turkey, including intercepts of 7
meters averaging 2.67 g/t gold and 7.25 meters averaging 3.22 g/t gold from
hole AKC-7 in the Fula Tepe zone.
In addition, EMX's on-going geologic
mapping and surface sampling programs continued to define the recent
Baglarbasi Tepe and Arap Tepe discoveries, and have identified a new
mineralized zone north of Fula Tepe.
Akarca is under joint venture agreement
(JV) with a wholly owned subsidiary of Centerra Gold Inc.
Please see
attached map and www.eurasianminerals.com for more information.
Akarca Drill Results.
EMX's recent core drilling program was designed to
extend the gold-silver mineralized zones initially defined from surface
mapping, gold-silver geochemistry, and previous diamond and reverse
circulation drilling campaigns (see Company news releases dated 11/19/2007
and 1/6/2009).
The 2009 drill campaign consisted of 16 core holes totaling
2,400 meters, and was focused on the Fula Tepe, Kucukhugla Tepe and Hugla
Tepe vein zones that are located in a broad 1.2 by 1 kilometer area of
multiple gold-in-soil anomalies (> 0.1 g/t Au).
Significant drill intercepts
(i.e., > 0.3 g/t Au over minimum 7 meters) are summarized and discussed
below.
Drill Hole
>From (m)
To (m)
Interval (m)*
Au (g/t)
Ag (g/t)
Comments
AKC-6
0.6
10.0
9.4
0.85
13.26
Fula Tepe.
14.5
32.0
17.5
1.14
8.61
AKC-7
2.0
10.0
8.0
0.63
11.29
Fula Tepe.
Multiple zones of Au-Ag mineralization.
18.5
26.5
8.0
1.46
9.78
31.0
38.0
7.0
2.67
11.72
50.0
57.25
7.25
3.22
7.49
AKC-8
4.0
17.0
13.0
1.07
5.77
Fula Tepe.
Also 5.4m (24.7-30.1m) @ 0.77 g/t Au & 7.28 g/t Ag.
37.3
44.8
7.5
2.38
7.92
AKC-9
58.5
66.3
7.8
1.31
6.89
Fula Tepe.
Also 3.5m (18.5-22m) @ 1.03 g/t Au & 12.93 g/t Ag;
2.5m (80-82.5m) @ 1.11 g/t Au & 15 g/t Ag.
AKC-10
41.4
49.7
8.3
0.67
8.95
Fula Tepe.
110.25
117.5
7.25
0.49
1.52
AKC-11
45.3
56.75
11.45
0.47
4.99
Hugla Tepe.
AKC-12
53.5
70.2
16.7
0.43
4.54
Hugla Tepe.
AKC-13
27.0
42.2
15.2
1.10
3.05
Hugla Tepe.
Also 1.5m (55.5-57m) @ 2.26 g/t Au & 45.4 g/t Ag.
AKC-14
5.0
16.5
11.5
0.39
1.48
Hugla Tepe parallel zone.
AKC-15
27.0
37.1
10.1
0.89
8.06
Kucukhugla Tepe.
Also 3.35m (43.15-46.5m) @ 1.18 g/t Au
& 11.18 g/t Ag.
AKC-16
32.5
44.5
12.0
0.31
2.62
IP target concealed beneath soil cover.
Also 3.5m (60.5-64m)
@ 5.0 g/t Au & 13.1 g/t Ag.
AKC-17
Intervals > 0.1 g/t Au total 30.8m
Kucukhugla Tepe.
AKC-17A re-drill to 41.9m.
AKC-18
4.8 m (19-23.8m) @ 0.3 g/t Au
Hugla Tepe parallel zone.
AKC-19
No significant intercepts
Hugla Tepe.
AKC-20
No significant intercepts
Kucukhugla Tepe.
AKC-21
Intervals > 0.1 g/t Au total 18.2m
Hugla Tepe.
*True thickness estimated at 80% to 100% of reported interval length.
* Fula Tepe.
All five holes drilled in the Fula Tepe zone returned
significant gold intercepts.
AKC-7 intersected two gold-silver zones of 7.0
meters averaging 2.67 g/t gold with 11.72 g/t silver, and 7.25 meters at
3.22 g/t gold with 7.49 g/t silver.
The Fula Tepe zone has 350 meters of
northeast trending strike length defined by drilling, surface mapped veins,
and rock samples assaying greater than 1 g/t gold.
Concealed vein targets
identified from geophysics (IP resistivity) define a broad 900 by 200 meter
corridor coincident with the Fula Tepe zone.
* Hugla Tepe.
Five new holes were drilled in the Hugla Tepe vein zone,
with three returning significant gold intercepts.
The Hugla Tepe zone has
650 meters of northeast trending strike length defined by recent and
previous drilling, surface mapped veins, and rock samples assaying greater
than 1 g/t gold.
Two holes (AKC-14, -18) drilled in the Hugla Tepe footwall,
and collared approximately 90 meters northwest of the surface mapped vein,
intersected gold mineralization in an area coincident with rock sample
geochemistry greater than 1 g/t gold.
* Kucukhugla Tepe.
Three new holes were drilled in the Kuckhugla Tepe
zone, with one returning significant gold intercepts.
Kucukhugla is a broad,
750 meter long, northwest trending gold-silver zone defined by drilling,
geochemistry, and coincident IP resistivity anomalies.
In addition to the three main target zones, hole AKC-16 successfully tested
an IP resistivity target located between, and parallel to, the Hugla and
Fula Tepe zones.
This concealed IP target is approximately 500 meters long,
with an AKC-16 drill intercept of 3.5 meters averaging 5.0 g/t gold and 13.1
g/t silver.
A new target area 500 meters north of Fula Tepe was identified
from surface mapping and sampling, including rock sample results of 53.1 g/t
gold with 1090 g/t silver, and 73.8 g/t gold with 50.3 g/t silver.
Arap Tepe and Baglarbasi Tepe Zones.
EMX has completed rock sampling and
geologic mapping at the Arap Tepe and Baglarbasi Tepe zones, which are
approximately 3.5 kilometers east of the main target area that has been the
focus of EMX's drill campaigns.
New rock samples collected from Arap Tepe
vein outcrops assayed up to 54.80 g/t Au and 24.70 g/t silver.
EMX is
planning a follow-up exploration program of geochemical sampling, geologic
mapping, and IP geophysical surveys for these two zones during the 2010
field season.
Akarca JV Overview.
Akarca is covered along with the Elmali property by a JV
agreement between EMX and Centerra Exploration B.V.
('Centerra'), a wholly
owned subsidiary of Centerra Gold Inc.
Centerra can earn a 50% interest in
Akarca and Elmali by making US$5,000,000 in exploration expenditures over
four years.
Upon completion of the earn-in requirements, Centerra will also
be required to pay EMX US$1,000,000 within 30 days.
Centerra may earn an
additional 20% in the properties, bringing the total to 70%, by spending a
further US$5,000,000 over two years.
The Akarca gold-silver deposit, located in Turkey's western Anatolia region,
is an EMX 2006 grassroots exploration discovery.
Successful drill testing of
vein outcrops as well as concealed geophysical targets beneath extensive,
but shallow soil cover, indicates that Akarca hosts a gold-silver
mineralized system with substantial exploration potential.
Comments on Sampling, Assaying, and QA/QC.
EMX's drill and geochemical
samples were collected in accordance with accepted industry standards.
The
samples were submitted to ALS Chemex laboratories in Izmir, Turkey for
sample preparation and Vancouver, Canada (ISO 9001:2000 and 17025:2005
accredited) for analysis.
Gold was analyzed by fire assay with an AAS
finish, and silver underwent aqua regia digestion and was analyzed with
MS/AES techniques.
As standard procedure, the Company conducts routine QA/QC
analysis on all assay results, including the systematic utilization of
certified reference materials, blanks, field duplicates, and umpire
laboratory check assays.
EMX is exploring and investing in a first class mineral property and royalty
portfolio located in some of the most prospective, but under-explored
mineral belts of the world.
Dr.
Mesut Soylu, 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.
-30-
For further information contact:
David M.
Cole
President and Chief Executive Officer
Phone: (303) 979-6666
Email:
Website: www.eurasianminerals.com
Kim C.
Casswell
Corporate Secretary
Phone: (604) 688-6390
Email:
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.
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You can also view this News Release on our website at:
http://www.eurasianminerals.com/s/NewsandInfo.asp?ReportID=388286
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