Jasper Canyon is a porphyry copper project in the Globe-Miami District of Arizona. South32 has select the Project as a Designated Project which will advance under an option agreement providing for work commitments and cash payments to EMX during South32’s earn-in period, and upon earn-in, a 2% net smelter return (“NSR”) royalty interest and pre-production and milestone payments to EMX’s benefit.
Jasper Canyon lies on the flanks of the Schultz Granite intrusive complex, which is associated with numerous past and current producing copper mines and deposits in the Globe-Miami and Superior mining districts. Porphyry copper deposits in this region have been dismembered by numerous post-mineral faults that displace upper levels of the mineralized systems northeastward. The Jasper Canyon project lies at the east end of a northern trend of fault bounded deposits that include Pinto Valley, Diamond H and Copper Cities. Jasper Canyon lies along the easternmost portion of this trend and represents a fault-bounded and largely covered portion of the suspected upper levels of a porphyry copper system in a previously unexplored portion of the district.
Note: The nearby mines and deposits in the region provide context for EMX’s Project, which occurs in a similar geologic setting, but this is not necessarily indicative that the project hosts similar mineralization.