Sisorta JV Property. EMX, and JV partner Chesser Resources Limited (“Chesser”) (ASX: CHZ), have completed this year’s Sisorta drill program with 40 core holes totaling 5,973 meters. The program increased the size of the east and west near-surface, oxide gold zones. The JV also completed IP (induced polarization) and ground magnetic geophysical surveys totaling 62 line-kilometers that covered the 4 by 3.4 kilometer footprint of alteration and mineralization. The IP survey outlined strong anomalies to the north of the main gold mineralized zones that suggest additional silica-altered gold targets are concealed beneath soil cover. In addition, the IP and magnetic results identified anomalies to the north and east of the gold zones that delineated porphyry copper targets at depth. A summary of selected significant drill intervals is given in the table below (see www.eurasianminerals.com for a complete listing of significant drill results).
EMX and Chesser entered into a Sisorta project joint venture agreement. Under the terms of this agreement, Chesser may earn up to a 51% interest by spending US $4 million over three years, paying EMX a total of US $400,000, and issuing 3 million shares to EMX. Chesser can increase its interest to 70% by sole funding exploration to delivery of a bankable feasibility study over the subsequent five years, with yearly cash payments of US $100,000 (see EMX news release dated October 31, 2007). Chesser is continuing exploration at Sisorta into 2009 and has made arrangements to pay EMX the next tranche of cash (US $100,000) and shares (1,150,000).
Drill Hole | From (m) | To (m) | Interval (m) | Au (g/t) | Comments |
SIS19 | 41.3 | 64.5 | 23.2 | 0.75 | East Zone. Also 23.2m @ 0.2% Cu (41.3-64.5m), 2.1m @ 0.71% Cu (122.9-125.0m). 3.8m (47.5-51.3m) solution cavity |
including | 58.4 | 62 | 3.6 | 1.16 | |
| 70.5 | 92.2 | 21.7 | 0.43 | |
SIS21 | 1.5 | 37.3 | 35.8 | 0.65 | East Zone. Also 30.0m @ 0.57% Cu (8.3-38.3m) and 17.1m @ 0.73% Cu (18.2-35.3m) |
including | 19.7 | 25.8 | 6.1 | 1.34 | |
SIS39 | 0 | 59 | 59 | 0.64 | East Zone. Also 11.7m @ 0.17% Cu (95.9-107.6m) and 7.5m @ 25.56ppm Ag (44.5-52.0m), 1.0m (47.4-48.4m) solution cavity |
SIS40 | 2 | 44.5 | 42.5 | 1.51 | East Zone. 1.7m (9.5-11.2m) solution cavity Also 3.6m @ 0.37% Cu (101.5-105.1m). |
including | 5 | 14.5 | 9.5 | 4.13 | |
| 66.1 | 89 | 22.9 | 0.75 | |
including | 71.5 | 74.5 | 3 | 2.44 | |
| 115.6 | 124 | 8.4 | 0.73 | |
SIS42 | 28.7 | 39.1 | 10.4 | 0.84 | West Zone. Multiple stacked zones of mineralization |
including | 28.7 | 32.6 | 3.9 | 1.50 | |
| 55.6 | 64.9 | 9.3 | 0.58 | |
including | 56.9 | 59.4 | 2.5 | 1.27 | |
| 80.8 | 95.9 | 15.1 | 1.16 | |
including | 89.2 | 95.9 | 6.7 | 2.10 | |
| 110.5 | 117.5 | 7 | 0.40 | |
| 153.4 | 160.6 | 7.2 | 0.34 | |
SIS45 | 18 | 62.5 | 44.5 | 0.55 | East Zone. Au value < 0.3 g/t @ 4.00 m (30.5-34.5m) |
including | 45.5 | 55.9 | 10.4 | 1.14 | |
SIS48 | 0 | 50.5 | 50.5 | 1.42 | East Zone. |
including | 6 | 21.5 | 15.5 | 2.40 | |
including | 11 | 18.5 | 7.5 | 3.30 | |
SIS49 | 0 | 19.5 | 19.5 | 1.15 | West Zone. Also 2.5m @ 214.28ppm Mo (9.0-11.5m), 5.0m @ 0.20% Cu (64.5-69.5m) and 15.9m @ 114.86ppm Mo (92.0-107.9m) |
including | 16.5 | 19.5 | 3 | 3.17 | |
| 92 | 107.9 | 15.9 | 0.55 | |
SIS55 | 68.2 | 76.3 | 8.05 | 0.68 | South Zone. Also 12.3m @ 0.12% Cu (70.3-82.6m). |
SIS58 | 0 | 20.8 | 20.8 | 0.81 | West Zone. Also 2.8m @ 0.19% Cu (245.4-248.2m) |
| 51.6 | 63.3 | 11.70 | 0.45 |
Corporate Update
The Company also announces the resignation of William Sheriff as a director of EMX. Mr. Sheriff will remain as an Advisor to the Company.
Comments on Sampling, Assaying, and QA/QC. EMX and Chesser’s drill samples were collected in accordance with accepted industry standards and procedures, and Chesser’s programs adhere to EMX’s own internal sampling and QA/QC procedures. Samples were submitted to ISO 9001:2000 and 17025:2005 accredited ALS Chemex laboratories in Vancouver, Canada for analysis. Gold was analyzed by fire assay with an AAS finish, and silver analyses were determined by ICP MS/AES techniques. EMX and Chesser performed routine QA/QC analysis on the assay results, including the systematic utilization of certified reference materials, blanks, and field duplicates.
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.
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.
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For further information contact:
David M. Cole
President and Chief Executive Officer
Phone: (303) 979-6666
Email: dave@eurasianminerals.com
Website: www.eurasianminerals.com
Kim C. Casswell
Corporate Secretary
Phone: (604) 688-6390
Email: kcasswell@eurasianminerals.com
The TSX Venture Exchange does not accept 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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