Eurasian Minerals Regains 100% Control of the Akarca Gold-Silver Project in Turkey
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 10/30/15 -- Eurasian Minerals Inc. (the "Company" or "EMX") (TSX VENTURE: EMX)(NYSE MKT: EMXX) is pleased to announce that it has regained 100% control of the Akarca gold-silver project in Turkey (the "Property"). EMX had an agreement with Colakoglu Ticari Yatirim A.S. ("Colakoglu"), a privately owned Turkish company, for an option to acquire EMX's 100% owned subsidiary, AES Madencilik A.S. ("AES Turkey"), a Turkish corporation that controls the Property (see EMX news release dated June 20, 2013). Colakoglu has advised EMX that it decided to forego exercising the option. Colakoglu has made cash payments of US $350,000 to EMX while advancing the Property through substantial exploration and drilling programs, as well as metallurgical and environmental studies.
The Akarca project is an EMX grassroots discovery highlighted by six separate gold-silver mineralized centers occurring within a district-scale area (please see attached map). Exploration completed to date includes 245 core and reverse circulation holes totaling about 26,400 meters of drilling and property-wide geologic mapping, geochemical sampling, and geophysical surveys. This work has been conducted primarily through partner-funded programs totaling over US $13 million that considerably advanced the project. The Akarca project is available for partnership, and EMX is engaging in discussions with a number of interested parties. See for more information.
Akarca Overview. Gold and silver mineralization at Akarca occurs within structurally focused veins and vein sets, as well as in silicified hanging wall and footwall zones. The quartz veins typically host higher grade mineralization, while the silicified halos in the wall-rocks host lower grade disseminated mineralization. Exploration results from the six known prospect areas are summarized below.
The continuity of Akarca's near-surface oxide zones of gold-silver mineralization has been delineated at a 25 to 50 meter drill spacing. All of the known zones remain open along strike and to depth. Further, reconnaissance and step-out drilling have demonstrated ample potential for new discoveries on the Property.
EMX in Turkey. EMX has seven properties in Turkey, including two royalty properties (Balya and Aktutan), two partnered projects (Golcuk and Trab-23) and three available projects (Akarca, Sisorta, and Alankoy). To manage its interests in Turkey on an ongoing basis, the Company has engaged the services of DAMA Muhendislik Proje ve Maden San.Tic. A.S ("Dama Engineering"). Dama is an internationally recognized engineering company based in Ankara, Turkey, which serves the mining industry and is led by General Manager Sabri Karahan. Mr. Karahan is a mining engineer with 40 years of experience in mine development and a specialization in EPCM (Engineering, Procurement, and Construction Management). He has a Master of Science degree from the Mining Faculty at the Technical University of Istanbul, Turkey.
Prior to founding Dama Engineering, from 1998 to 2005 Mr. Karahan was an Executive Board Member and the General Manager of Normandy Madencilik Plc, a subsidiary of Normandy Ltd. of Australia, later acquired by Newmont Exploration Ltd. In his work with Normandy and Newmont, Mr. Karahan helped lead the development of the Ovacik Gold Project in Turkey, which was a key step in revitalizing the gold industry in Turkey. Prior to his work for Normandy and Newmont, Mr. Karahan served as an Executive Board Member and General Manager of Cominco Madencilik Plc, a subsidiary of Cominco Ltd. of Canada. In his work with Cominco, Mr. Karahan established the Turkish subsidiary and led a successful 10 year exploration campaign across Turkey.
Dama Engineering, under Mr. Karahan's direction, will manage EMX's mineral licenses, exploration programs, and administrative functions in Turkey.
Comments on Sampling, Assaying, and QA/QC. The Akarca exploration and drill samples have been collected in accordance with industry best practice standards and guidelines. The samples were submitted to ALS Chemex laboratories in Izmir, Turkey (ISO 9001:2000) and Vancouver, Canada (ISO 9001:2000 and 17025:2005 accredited) for sample preparation and analysis. Gold was analyzed by fire assay with an AAS finish, and silver underwent aqua regia digestion and analysis with MS/AES techniques. Over limit assays for gold (greater than 10 g/t Au) were conducted with fire assay and a gravimetric finish, and over limit analyses for silver (greater than 100 g/t Ag) were performed with aqua regia digestion and ICP/AES techniques. As standard procedure, QA/QC analysis is carried out on all assay results, including the systematic utilization of certified reference materials, blanks, and duplicate samples.
About EMX. Eurasian Minerals leverages asset ownership and exploration insight into partnerships that advance our mineral properties, with EMX retaining royalty interests. EMX complements its generative business with strategic investment and third party royalty acquisition.
Mr. Michael P. Sheehan, CPG, a Qualified Person as defined by National Instrument 43-101 and employee of the Company, has reviewed, verified and approved the disclosure of the technical information contained in this news release.
The NYSE MKT, TSX Venture Exchange and the Investment Industry Regulatory Organization of Canada do not accept responsibility for the adequacy or accuracy of this release.
Forward-Looking Statement
This news release may contain "forward looking statements" that reflect the Company's current expectations and projections about its future results. When used in this news release, words such as "estimate," "intend," "expect," "anticipate," "will" and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company's future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause Eurasian's actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to: unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company's MD&A for the six-month period ended June 30, 2015 (the"MD&A") and most recently filed Annual Information Form for the year ended period ended December 31, 2014 (the "AIF"), actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at and on the SEC's EDGAR website at .
To view the map accompanying this press release, click on the following link:
Contacts:
Eurasian Minerals Inc.
David M. Cole
President and Chief Executive Officer
(303) 979-6666
Eurasian Minerals Inc.
Scott Close
Director of Investor Relations
(303) 973-8585
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Datum: 30.10.2015 - 21:15 Uhr
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News-ID 430879
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