Vancouver, British Columbia, May 24, 2005 (TSX Venture: EMX) - Eurasian Minerals Inc. (the “Company” or “EMX”) is pleased to provide an update on the Company’s drill results for the Sisorta project, located in Sivas province, north-central Turkey. The property is a high sulfidation, volcanichosted gold system on the arid southern side of the Pontide Mountains in north-central Turkey. From the Company’s drill results, oxide gold mineralization generally occurs from the surface to depths ranging from 23 to over 100 meters, with tenors over significant intervals ranging from 0.47 g/t to over 5 g/t gold. Sisorta is a Designated Project pursuant to the terms of the Company’s exploration joint venture agreement with Barrick Gold Corporation (see Company news release dated September 23, 2004). Barrick has the right to earn up to a 70% interest in the property by spending $10,000,000 USD.
EMX Drill Results
The Company’s exploration core drill program focused on zones of intensely altered and gold mineralized volcanic rocks that had been drilled by Maden Tetkik va Arama (“MTA”), Turkey’s General Directorate of Mineral Research and Exploration in the late 1990’s (see Company News Release dated January 26, 2004). These zones are characterized by extensive hydrothermal brecciation, silicification, and vuggy silica that host gold in the mineralized system. The Company’s program totaled 965.05 meters in eight diamond drill holes, with significant gold mineralized intercepts summarized in the table below. The mineralized system is typically oxidized from the surface to depths of 50 to 100 meters, with mixed oxide and sulfide intervals encountered as pods and lenses.
The Company reported historic results from MTA’s 1,459.95 meter, ten hole core program conducted at Sisorta from 1996 to 1998 in a news release dated January 26, 2004. MTA employed atomic absorption analysis for their gold assays, which may not report the “total” gold content. As part of the Company’s technical due diligence assessment, drill sample pulps were acquired from MTA and submitted to ALS Chemex for re-analysis by one assay ton fire assay to determine a “total” gold content. A total of 907 out of 1,142 original MTA sample pulps (79.4%) were located and re-assayed (no pulps were recovered for holes ES-5 or ES-7/1). Of these 907 samples, 97 samples that originally reported greater than or equal to 0.30 g/t gold had an average grade of 1.410 g/t gold as reported by atomic absorption analysis. The Company’s fire assay re-analysis yielded an average grade of 1.822 g/t gold, representing a 29.2 percent increase in the mean grade for significant gold intervals with available pulp material. A revised table of significant MTA gold intercepts is summarized below.
The gold mineralized zone drilled to date remains open-ended along trend. The Company will commence an initial ten hole, 3000 meter step-out core drilling program in June. The Phase I Sisorta exploration budget is $800,000 USD.
Comments on Sampling, Assaying, and QA/QC
The Company’s drill samples were collected in accordance with accepted industry standards. The samples were submitted to the ISO 9002 certified ALS Chemex laboratories in Izmir, Turkey for sample preparation and Vancouver, Canada for assay analysis: gold was analyzed by fire assay with an AAS or ICP finish. As standard procedure, the Company conducts routine QA/QC analysis on all assay results, including the systematic utilization of certified reference materials, blanks, field duplicates, and umpire laboratory check assays.
A map showing the Company and MTA drill results will be available at www.eurasianminerals.com.
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.
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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
Kim C. Casswell
Corporate Secretary
Phone: (604) 688-6390
Email: kcasswell@eurasianminerals.com
The TSX Venture Exchange does not accept 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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