Plavkovo Exploration Permit
The Plavkovo permit covers 35.4 square kilometers in a region known as the Raska ore field, located approximately 160 kilometers southwest of Belgrade. The Raska ore field occurs in volcanic rocks that have lead-zinc-silver bearing veins, lenses and stockworks that have been exploited since the Middle Ages. The presence of extensive silica cap zones with vuggy silica underlain by rocks hydrothermally altered to kaolinite and alunite indicates that the area is prospective for high sulfidation gold targets.
Government sponsored exploration programs were conducted in the Plavkovo region in 1961 by Geozavod, and from 1973 to 1987, and in 1993 by the Geoinstitut. These programs included geological mapping, geochemical sampling, trenching and drilling, and geophysical surveys. Although primarily limited to lead-zinc vein targets, the work did identify some prospective gold targets. These include the Mali Bukovik and Veliki Bukovik prospects that were identified in the government reports as “hydroquartzite”, that are alunite-rich silica cap zones possibly overlying larger mineralized systems at depth. These silica caps zones cover an area of approximately 1.3 square kilometers, with gold reported between 0.1 and 6 g/t with a maximum silver grade of 55 g/t (Radulovic, 1990). There are other silica cap zones in the area, such as the one square kilometer Velika Cukara prospect, that also have elevated gold values as reported from government studies.
The Company’s initial field evaluation of the Plavkovo property confirmed the presence and extent of alteration and mineralization indicated from the government reports. Two rock chip samples were taken in one of the silica cap zones, yielding assays of 2.15 g/t gold with 69.2 g/t silver in vuggy silica, and 0.38 g/t gold, 2.92 g/t silver, and 1605 ppm copper in gossanous material. A third rock chip sample taken 500 meters to the east in a zone marked by local copper staining did not have significant precious metal values, but reported an anomalous copper assay of 1030 ppm. The Company samples were taken according to industry standards and assayed by fire/AAS techniques at ISO 9002 certified ALS Chemex Labs in Vancouver, Canada
Eurasian Minerals Inc. will be the first company to conduct a systematic gold exploration program in the region for over a decade. The Company’s recognition of this region’s potential for high-sulfidation epithermal gold targets will be tested with modern exploration technologies and field-based programs this Spring.
Sijarinska Banja Exploration Permit
The 36.5 square kilometer Sijarinska Banja exploration permit, situated approximately 250 kilometers south of Belgrade, occurs as a southeastern extension of the Lece volcanic complex. The volcanic rocks of Sijarinska Banja occur along a through-going regional-scale structural zone that controlled volcanic activity and base and precious metals mineralization in the Lece volcanic complex. Sijarinska Banja is seven kilometers south of the Company’s Lece exploration permit that surrounds the Lece lead-zincsilver-gold mining district.
Historically, the Sijarinska Banja property has seen limited exploration conducted by government geological agencies. The government programs identified stockwork-style alteration and mineralization in the volcanic rocks, with one prospective target covering an area of 1.2 square kilometers. This mineralization is characterized by lead-zinc occurrences in dacite flows and dikes, chalcopyrite veins in schists, and gold showings in quartz breccia zones and veins. The Company is planning detailed mapping and sampling programs for the upcoming field season.
Statement on Government Generated Exploration Results
The Company is referencing results from Geozavod and Geoinstitut, both government geological survey agencies in the former Yugoslavia, as well as present day Serbia. A specific reference include s Radulovic B. 1990: The occurrence of precious and base metals in Plavkovo near Rudnica, 12th Congress of Geologists of Yugoslavia, Book 3, Ohrid 1990, pp. 203-212. The results from this reference has not been systematically confirmed by the Company’s independent sampling, but is reasonably assumed to be indicative of the presence of mineralization as reported.
Mr. Dean Turner, P.Geo., a Qualified Person as defined by National Instrument 43-101 and consultant to the Company, has reviewed and verified the technical mining information contained in this news release.
For further information, contact:
David M. Cole
President and Chief Executive Officer
Phone: (303) 979-6666
Kim C. Casswell
Phone: (604) 689-1428
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
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.