Balikesir Province, Türkiye

Esan Eczacibaşi Endüstriyel Hammaddeler San. ve Tic. A.Ş. 


4% NSR

EMX’s Balya royalty property occurs in the historic Balya lead-zinc-silver mining district of northwestern Türkiye. Private Turkish company Esan Eczacibaşi Endüstriyel Hammaddeler San. ve Tic. A.Ş. (Esan) is the owner and operator of Balya, with EMX retaining an uncapped 4% NSR royalty on the property. 

The Balya license was acquired by EMX in a 2005 government auction after review of historic exploration results. In 2006 EMX entered into an agreement to transfer the Balya property to Dedeman Madencilik San ve Tic. A.S. (“Dedeman”) in exchange for cash payments, work commitments, a retained 4% NSR royalty, and the Alankoy gold-copper property. In Q1 2020 Esan acquired the Balya property from Dedeman (see Company news release dated January 7, 2020).

Mineralization at Balya consists of Pb-Zn-Ag rich skarn and carbonate replacement zones hosted in limestones and dacites. Hastanetepe is the main mineralized zone, and occurs as a shallow dipping, 750 by 450 meter zone of multiple stacked horizons of mineralization at depths ranging from 10-20 meters to 200-300 meters. Also, additional mineralization was intersected by reconnaissance drilling 650 meters to the south of Hastanetepe. 

Construction of a production decline into the Hastanetepe Zone has commenced. Commercial production commenced Q4 2021. 




Decline at Balya Click to Enlarge
Progression of Decline at Balya Click to Enlarge
Lead-zinc-silver mineralized core sample from Balya. Click to Enlarge