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Eurasian Minerals Drills Highest Grade Intercept to Date of 2.15 Meters Averaging 89.34 g/t Gold & 835 g/t Silver at the Akarca Project, Turkey

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Eurasian Minerals Drills Highest Grade Intercept to Date of 2.15 Meters Averaging 89.34 g/t Gold & 835 g/t Silver at the Akarca Project, Turkey

 

 

 

 



Eurasian Minerals Inc.  (TSX Venture: EMX; NYSE MKT: EMXX) announce results from the first two holes of the 2012-2013 drill campaign at the Akarca gold-silver project in northwest Turkey. The results include an oxide intercept starting at surface of 36.4 meters averaging 5.67 g/t gold and 53.31 g/t silver, with a sub-interval of 2.15 meters averaging 89.34 g/t gold and 835.16 g/t silver that represents the highest grade intercept drilled to date on the property (true widths interpreted as 60-75% of reported interval length). The bonanza intercept highlights the project’s high-grade gold-silver exploration potential. In addition, the Company’s recent programs of geologic mapping and surface sampling have identified several new zones of gold-silver mineralization for follow-up drilling.

 

 

Akarca is 100% controlled by EMX, and is available for partnership. The Company is currently in advanced discussions with a number of potential partners interested in the property. Please see the attached map for more information.

 

 

Current Program Results. EMX initiated a drill program in December, 2012 to test new target concepts, as well as extend gold-silver mineralization identified from previous exploration. The first two holes were drilled at the Sarikaya Tepe prospect, which is a zone of surface-exposed quartz veining, silicification, and gold-silver mineralization coincident with a steep north-northwest trending ridge. A summary of drill results from Sarikaya Tepe are given in the table below.

 

 

 

Drill Hole

From (m)

To
(m)

Interval (m)

Au (g/t)

Ag (g/t)

AuEq (g/t)

Comments

AKC-69 3.6 78.8 75.2 0.60 4.48 0.68 Sarikaya Tepe, TD = 124.5 m. Angle hole drilled across the zone from the east that is predominantly oxidized from surface to 59.4m. True width interpreted to be approximately 60-75% of reported interval.
including 69.4 78.8 9.4 2.00 4.60 2.08
AKC-70 0 36.4 36.4 5.67 53.31 6.64 Sarikaya Tepe, TD = 150.4 m. Angle hole drilled across the zone from the east that is predominantly oxidized from surface to 71.8m. True width interpreted to be 60-75% of reported interval.
including 23.6 25.75 2.15 89.34 835.16 104.53
  59.1 72.9 13.8 0.38 8.18 0.53

Notes: Intervals reported at a nominal 0.2 g/t Au cutoff. Au equivalent calculated as 55:1 Ag:Au ratio, and assumes that metallurgical recoveries and net smelter returns are 100%.

 

 

Previous drilling at Sarikaya Tepe was angled across the zone from the west due to a lack of access from the top of the ridge. For the current campaign, EMX constructed a drill road on the top of Sarikaya Tepe and during excavation a new, 200 meter long, conglomerate-hosted zone of veining and silicification was discovered on the east side of the prospect. This new zone is an additional target for follow-up exploration.

 

 

Elsewhere on the property, EMX continued with geologic mapping, soil sampling, drill road construction, and trenching (please refer to attached map).

 

 

 

  • Recent extensions to soil sample grids identified new vein and silicified zones north of Sarikaya Tepe and west of Percem Tepe.
  • Drill road construction at Fula Tepe exposed a broad corridor of silicification, quartz veining and mineralization. Trench samples across the Fula Tepe trend yielded nearly continuous mineralization along 200 meters of drill road, including 168.6 m @ 0.66 g/t gold with 8.66 g/t silver, and 7 m @ 5.29 g/t gold with 27.61 g/t silver. To the north, additional across-trend sampling extended the width of Fula Tepe with trench intervals of 38.2 m @ 1.19 g/t gold with 6.70 g/t silver, and 20 m @ 0.29 g/t gold with 3.17 g/t silver. Trench sampling to the south further broadened the mineralized corridor with 31.3 m @ 0.65 g/t gold.
  • Drill road construction at Arap Tepe exposed silicification, quartz veining and mineralization that extended the overall width of the zone at surface. Follow-up trench sampling across the zone returned gold intervals of 55.5 m @ 1.27 g/t and 14.5 m @ 0.42 g/t from one drill road, and 38.5 m @ 0.29 g/t and 23.5 m @ 0.26 g/t from a second road exposure.

 

 

 

EMX’s recent exploration work has returned a bonanza grade drill intercept, discovered new vein zones from mapping and sampling, and identified extensions to known zones of mineralization. These ongoing exploration successes underscore the upside, district-scale exploration potential of the Akarca property.

 

 

Akarca Overview. The Akarca project is an EMX grassroots discovery consisting of six separate gold-silver mineralized zones occurring within a district-scale area. Gold and silver mineralization occurs as both structurally focused vein-style, as well as disseminated-style mineralization in silicified zones. The quartz veins typically host higher-grade mineralization, while the silicified halos in the wall-rocks host lower-grade disseminated mineralization. In addition, mineralization is hosted at the intersection of vein structures and the underlying basement contact, significantly increasing the project’s exploration potential.

 

 
To date, 83 drill holes totaling over 10,000 meters, 3,100 rock and 3,300 soil geochemical samples, 74 line-kilometers of IP-resistivity surveys, and a property-wide gravity survey have been completed. Less than 20% of the 14,000 meters of vein target strike length as currently defined by mapping and IP-resistivity anomalies have been drill tested to date, with additional gold-silver zones continuing to be discovered.

Posted January 19, 2013

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