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Eurasian Minerals Reports Drill Results in Turkey

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Eurasian Minerals Reports Drill Results in Turkey

 
 
 
 
 
Eurasian Minerals Inc. (TSX VENTURE:EMX)(NYSE MKT:EMXX)(NYSE Amex:EMXX) announce recent drill results from the Balya royalty property in Turkey. The owner and operator of Balya, Dedeman Madencilik San ve Tic. A.S. (“Dedeman”), reports intercepts that include 18.0 meters averaging 13.83% lead, 4.68% zinc, and 110.0 g/t silver, and 22.3 meters averaging 6.95% lead, 5.65% zinc, and 95.68 g/t silver with a 7.9 meter sub-interval of 15.42% lead, 12.33% zinc and 219.94 g/t silver. Dedeman also reports that the property has been successfully converted to an exploitation license and underground development is planned for late 2012 or early 2013.
 

2012 Balya Drill Program. Dedeman has reported 32 core holes totaling over 3,300 meters from this year’s drill program. The new drilling expanded the high-grade lead-zinc-silver mineralization in the main Hastanetepe zone to the east and southeast. Hastanetepe is a moderately dipping, 450 by 300 meter zone that occurs from depths of 10-20 meters to 200-300 meters as multiple stacked horizons of lead-zinc-silver mineralization hosted in limestones and dacites. The zone remains open for extension in multiple directions. This year’s drilling intersected new lead-zinc-silver horizons to the east and southeast that are notable for their relatively high grades over thick intervals. A table of drill intervals is given below. Please see attached map for more information.

 

 

----------------------------------------------------------------------------
                    From    To  Interval    Pb    Zn       Ag               
Drill No             (m)   (m)    (m)(i)     %     %      g/t Comments      
----------------------------------------------------------------------------
DB-67               25.6  27.0       1.4  8.84  1.63   177.00 Intersected   
         ---------------------------------------------------- stacked       
                    37.0  41.1       4.1 39.11 24.88   931.24 mineralized   
         ---------------------------------------------------- horizons to   
         including  37.0  39.6       2.6 52.87 18.67  1311.85 the southeast.
         ----------------------------------------------------               
                    44.0  46.9       2.9  8.79  4.39   129.30               
         ----------------------------------------------------               
                    75.0  93.0      18.0 10.99  5.96   126.57               
         ----------------------------------------------------               
         including  81.0  85.4       4.4 26.42 11.84   221.45               
         ----------------------------------------------------               
         including  86.9  88.0       1.1 29.59  7.18   502.00               
----------------------------------------------------------------------------
DB-68               24.2  28.2       4.0 10.59  9.40   184.40 Extended      
         ---------------------------------------------------- mineralization
         including  24.2  26.6       2.4 14.16 11.54   254.92 to the east.  
----------------------------------------------------------------------------
DB-73                3.0   9.0       6.0  1.77  1.52    20.67 Extended      
                                                              mineralization
                                                              to the east.  
----------------------------------------------------------------------------
DB-74                9.5  10.1       0.6  4.65  6.33    69.00 From a fan of 
         ---------------------------------------------------- holes that    
                    34.6  56.9      22.3  6.95  5.65    95.68 extended      
         ---------------------------------------------------- mineralization
         including  49.0  56.9       7.9 15.42 12.33   219.94 to the east.  
----------------------------------------------------------------------------
DB-75A              21.0  25.5       4.5 14.49 12.79    57.97 From a fan of 
                                                              holes that    
                                                              extended      
                                                              mineralization
                                                              to the        
                                                              southeast.    
----------------------------------------------------------------------------
DB-80               54.0  57.0       2.1  2.19 24.02   193.00 Extended      
                                                              mineralization
                                                              to the        
                                                              southeast.    
----------------------------------------------------------------------------
DB-81               24.0  30.0       6.0 21.99  4.66    97.83 Intersected   
         ---------------------------------------------------- stacked       
         including  25.5  27.0       1.5 54.02  2.10  1435.00 mineralized   
         ---------------------------------------------------- horizons      
         including  28.0  28.8       0.8 42.43 21.25   147.00 to the        
         ---------------------------------------------------- southeast.    
                    33.0  51.0      18.0 13.83  4.68   110.00               
         ----------------------------------------------------               
                    73.0  88.0      15.0  1.89  1.06    27.44               
----------------------------------------------------------------------------
DB-82               15.0  17.0       2.0  0.20  2.50     6.00 Extended      
         ---------------------------------------------------- mineralization
                    24.0  25.5       1.5 13.83  4.68   110.00 to the        
                                                              southeast.    
----------------------------------------------------------------------------
DB-89A              33.0  38.0       5.0  3.37  2.91    75.20 From a fan of 
         ---------------------------------------------------- holes that    
                    40.0  46.0       6.0  1.75  1.60    23.30 extended      
         ---------------------------------------------------- mineralization
                    51.4  56.7      5.30  2.68  1.67    41.60 to the east.  
----------------------------------------------------------------------------
(i) True widths estimated at 70-90% of reported intervals.
 
 
 
Balya Overview. EMX retains an uncapped 4% net smelter royalty on the Balya property (see Company news release dated November 14, 2006), which occurs in the historic Balya lead-zinc-silver mining district of northwestern Turkey. Since acquiring the property from EMX in 2006, Dedeman has drilled 176 holes totaling over 31,000 meters and is advancing the property to production as an underground mining operation. Dedeman is a privately-held, leading Turkish mining company with active operations that produce lead, zinc, silver, and chrome ore.
 

Comments on Sampling, Assaying, and QA/QC. Dedeman’s drill samples were collected in accordance with industry best practices that follow guidelines taken from EMX’s internal sampling and QA/QC procedures. This year’s drill samples were submitted to Dedeman’s Cadirkaya Mine laboratory in Turkey. Silver and base metal analyses were determined with aqua regia digestion and AAS techniques. Dedeman performs routine QA/QC analysis on their assay results, including the utilization of certified reference materials, blanks, and duplicate samples.

 

EMX has reviewed the drill core and QA/QC results, and conducted independent due diligence duplicate sampling that confirm Dedeman’s results. EMX’s samples were submitted to the ISO 9001:2000 and 17025:2005 accredited ALS Chemex laboratory in Vancouver, Canada for analysis. Silver and base metal analyses were determined by four acid digestion and ICP MS/AES techniques. Over limit analyses for lead (Pb greater than 20%) and zinc (Zn greater than 30%) were performed by volumetric titration techniques.

 

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 and verified the technical information contained in this news release.
Posted October 2, 2012

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