Sisorta

Location
Sivas Province, Türkiye

Operator
Bahar Madencilik Sinayi ve Ticaret Ltd Sti

Commodity
Gold-Copper

Royalty
3.5-5% NSR & other payments

The Sisorta project is located in north-central Türkiye’s Eastern Pontides metallogenic belt. Gold mineralization is developed in the upper portions of a prominent lithocap of high sulfidation-style alteration, with copper and molybdenum showing enrichment at lower elevations. These broad zoning patterns are suggestive of an extensive magmatic-hydrothermal system.

EMX acquired the property via government auction in 2004, and conducted surface exploration and drilling programs until entering into a joint venture (the “JV”) with Chesser Resources Ltd. (“Chesser”) (51%) and EMX (49%) in 2007. As project manager, Chesser completed  earn-in requirements in 2009, which included spending US $4 million on exploration, paying EMX a total of US $400,000, and issuing three million Chesser shares to EMX. 

In 2012, the Sisorta JV granted Çolakoglu Ticari Yatirim A.S., a privately owned Turkish company, an option to buy the property. Subsequently, Çolakoglu completed a 46 hole, 5,500 meter diamond drill program and other work totaling approximately US $2.5M before terminating its option in 2013. This drilling expanded the known extent of gold mineralization, but did not test the porphyry targets.

In March 2015, EMX purchased Chesser’s interest in the project, and assumed management of the project. 

In 2016, EMX sold the wholly-owned subsidiary that controls the Sisorta property to Bahar Madencilik Sinayi ve Ticaret Ltd Sti (“Bahar”), a privately owned Turkish company (see EMX news release dated August 3, 2016). The terms of the sale include a US $250K up-front cash payment, annual cash payments, and NSR payments that can range from 3.5-5%. The NSR payments are uncapped and cannot be bought out or reduced. 

See EMX news releases dated January 26, 2004, May 24, 2005, February 16, 2006, August 27, 2007, October 31, 2007, December 7, 2007, November 24, 2008, June 16, 2009, August 27, 2009, April 3, 2012, and August 3, 2016 for more information.

Maps

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The Sisorta drill samples were collected in accordance with accepted industry standards and best practices. The samples were submitted to ALS Chemex laboratories in Izmir, Türkiye for sample preparation and Vancouver, Canada (ISO 9001:2000 and 17025:2005 accredited) for analysis. Gold as analyzed by fire assay with an AAS finish. As standard procedure, the Company and operators conducted routine QA/QC analysis on all assay results, including the systematic utilization of certified reference materials, blanks, field duplicates, and umpire laboratory check assays.

Photos

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