The geology of the Plavkovo property is dominated by Neogene-aged andesite volcanics and volcaniclastics hosting the two mineralized zones of interest. EMX’s 2005 program identified a goldbearing, silica-alunite zone, covering an area of about 1000 by 250 meters at the Bukovik Prospect. The silica-alunite alteration cap rock is persistently gold anomalous, with chip-channel values of up to 1.12 ppm gold over 2 meters. Field work on the Plavkovo Prospect identified a gold-copper zone that extends for at least 360 meters along trend. The best chip-channel samples from trenches across the zone returned values of 1.41 ppm gold over 8 meters and 0.49 percent copper over 14 meters. Together, the two prospects define a 3000 by 1200 meter area of gold-bearing alteration and mineralization consistent with high-sulfidation systems.
Bukovik Prospect Gold Target
The Bukovik high-sulphidation silica-alunite alteration extends for about 1000 meters along strike on the Veliki Bukovik Ridge. The area of alteration was previously investigated as a potential source of alumina by Yugoslav state organizations, but only limited exploration for gold was undertaken. A 94 sample EMX soil survey collected on a 250 meter by 100 meter grid delineated a coherent, gold in soil anomaly from 30 to 328 ppb that is constrained within a 100 meter vertical extent. The principal outcrops of the soil anomaly zone were systematically sampled by 106 chip-channel rock samples which assayed from 0.005 to 1.740 ppm gold, and averaged 0.267 ppm gold. The highest grade channel samples came from the Bukovik Mali Krs area, and reported up to 8 meters at 0.62 ppm gold, including 2 meters at 1.12 ppm gold.
Plavkovo Prospect Gold – Copper Target
The Plavkovo gold-copper prospect is located about 2700 meters to the northeast of Bukovik, and is marked by a 150 meter wide zone of sulfide-bearing quartz veins and veinlets in a structurally controlled zone of brecciated andesites and advanced argillic alteration. Chip-channel sampling from outcrops and four trenches tested a strike-length of 360 meters along the mineralized structure. The samples were all collected across strike, and the best results are tabulated below.
Systematic sampling of outcrops in the “gypsum” zone, which is marked by pyritic and advanced argillic alteration of andesite, yielded 14.2 meters at 0.58 ppm gold including 2 meters at 2.2 ppm gold. This zone is located about 400 meters east of the trenches, and suggests a possible continuation of the mineralized structure for nearly 800 meters.
The 2006 field season will include further systematic soil and rock sampling within and along trenches to define the limits of the anomalous zone at Bukovik and Plavkovo. This work will be followed-up, as warranted, by induced-polarization and magnetic geophysical surveys to help identify drill targets.
Comments on Sampling, Assaying, and QA/QC
The Company’s soil and rock geochemical samples were collected in accordance with accepted industry standards. The samples were submitted to ISO 9001:2000 registered and ISO 17025 accredited ALS Chemex laboratory in Vancouver, Canada for analysis: gold was analyzed by fire assay with an AAS finish, and multi-element analyses were determined by ICP MS/AAS techniques. 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.
Dr. Duncan Large, Chartered Engineer (UK) and Eur. Geol., 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) 688-6390
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.