2011 Balya Drill Program. Dedeman’s 2011 core program is focused on further extending and in-fill drilling the Hastanetepe zone, with three rigs currently operating on the property. A table of select lead-zinc-silver mineralized intervals is given below, with complete results from this year’s first eighteen holes available at www.eurasianminerals.com.
| Drill No | From (m) | To (m) | Interval* | Pb %** | Zn %** | Ag g/t | Comments | |
|---|---|---|---|---|---|---|---|---|
| DB-48 | 87.8 | 91.5 | 3.7 | 3.17 | 3.01 | 58.78 | Fan of drill holes that in-fills Hastanetepe Zone to the southeast. | |
| including | 87.8 | 88.8 | 1.0 | 10.25 | 8.24 | 187.00 | ||
| 144.5 | 147.0 | 2.5 | 0.80 | 6.35 | 35.00 | |||
| including | 144.5 | 145.5 | 1.0 | 1.80 | 14.15 | 81.80 | ||
| 159.0 | 175.6 | 16.6 | 0.44 | 1.83 | 7.90 | |||
| including | 174.0 | 175.6 | 1.6 | 2.92 | 0.53 | 44.30 | ||
| DB-48B | 132.0 | 136.0 | 4.0 | 3.66 | 1.36 | 37.45 | ||
| including | 135.0 | 136.0 | 1.0 | 5.83 | 4.19 | 54.70 | ||
| 148.0 | 157.4 | 9.4 | 1.97 | 3.38 | 28.43 | |||
| including | 149.5 | 151.2 | 1.7 | 4.47 | 5.11 | 69.00 | ||
| 162.0 | 163.6 | 1.6 | 1.23 | 1.18 | 14.70 | |||
| DB-48C | 135.0 | 139.2 | 4.2 | 10.74 | 12.06 | 204.52 | ||
| including | 136.2 | 137.8 | 1.6 | 16.60 | 24.20 | 327.00 | ||
| 153.3 | 156.0 | 2.7 | 5.75 | 5.24 | 74.44 | |||
| including | 153.3 | 153.8 | 0.5 | 21.40 | 22.90 | 288.00 | ||
| DB-50A | 125.5 | 134.3 | 8.8 | 4.23 | 0.05 | 45.98 | From fan of three holes that in-fills Hastanetepe Zone to the northwest. | |
| 141.0 | 143.9 | 2.9 | 4.80 | 0.22 | 106.39 | |||
| 194.0 | 196.0 | 2.0 | 2.32 | 0.20 | 26.60 | |||
| DB-51A | 102.9 | 108.0 | 5.1 | 4.10 | 1.24 | 51.03 | From fan of three holes that in-fills Hastanetepe Zone to the northwest. | |
| 112.5 | 120.0 | 7.5 | 4.85 | 1.11 | 60.00 | |||
| including | 112.5 | 114.0 | 1.5 | 10.30 | 0.10 | 127.00 | ||
| 123.0 | 131.2 | 8.2 | 2.42 | 2.46 | 28.52 | |||
| including | 129.0 | 131.2 | 2.2 | 3.57 | 9.03 | 42.20 | ||
| 133.8 | 135.0 | 1.2 | 0.87 | 7.42 | 16.20 | |||
| DB-53A | 139.2 | 150.3 | 11.1 | 7.82 | 5.92 | 419.74 | From fan of three holes that in-fills Hastanetepe Zone to the northwest and extends the zone to the northeast. | |
| including | 139.2 | 141.2 | 2.0 | 20.00 | 30.00 | 1230.00 | ||
| including | 143.0 | 144.5 | 1.5 | 20.00 | 0.25 | 1240.00 | ||
| 155.0 | 175.0 | 20.0 | 4.66 | 1.49 | 70.69 | |||
| including | 155.0 | 157.0 | 2.0 | 11.40 | 2.51 | 247.00 | ||
| including | 170.0 | 172.0 | 2.0 | 18.15 | 2.03 | 190.00 | ||
| 179.0 | 202.0 | 23.0 | 4.79 | 3.82 | 80.09 | |||
| including | 185.5 | 187.0 | 1.5 | 15.60 | 13.50 | 183.00 |
* True width estimated at 70-90% of reported interval.
**Overlimit re-assays for lead (20% Pb) and zinc (30% Zn) currently in progress.
This year’s drill results continue to confirm the continuity and tenor of the high-grade lead-zinc-silver mineralization at the Hastanetepe zone. Hastanetepe is a shallowly dipping, 300 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 along strike, down dip, and to depth. In addition, Dedeman plans to drill test a second zone 650 meters south of Hastanetepe later this year. This southern zone was intersected in 2008 with a fan of five reconnaissance holes (DB-29, DB-29A-D) that included an intercept of 8 meters averaging 7.77% lead, 3.47% zinc, and 43.39 g/t silver (see Company news release dated December 5, 2008).
Balya Overview. EMX retains a 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 113 holes totaling 21,676.3 meters. Dedeman, a privately-held Turkish company, is internally reviewing the property’s potential as a small scale (i.e., on the order of 500 tonnes per day) underground mining operation. As a key step in advancing the project from exploration to production, Dedeman has submitted an application to convert the Balya exploration license to an exploitation license. Dedeman is a leading Turkish mining company, with active operations that produce lead, zinc, silver, and over four percent of the world’s 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. 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. Overlimit analyses for lead (Pb > 20%) and zinc (Zn > 30%) are performed by volumetric titration techniques. Dedeman performs routine QA/QC analysis on assay results, including the utilization of certified reference materials, blanks, and duplicate samples.
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
Valerie Barlow
Corporate Secretary
Phone: (604) 688-6390
Email: valerie@eurasianminerals.com
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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