The geology of the Permit area consists of an early Paleozoic gabbro that is intruded by late Paleozoic granodiorite. The Gradiste and Aldinac prospects contain zones of structure, alteration, mineralization and anomalous geochemistry where select rock chip vein samples have returned grades of up to 50.4 ppm gold and 1.73 percent copper, and chip channel sampling has delineated 3.76 ppm gold and 0.17 percent copper over 6 meters. A copper-in-soil anomaly (100 to 450 ppm) at Gradiste measures 2500 by 500 meters, and is surrounded by a halo of anomalous gold-in-soil values. The size, tenor and continuity of the geochemical anomalies are encouraging. The regional geological setting and observed mineralization are compatible with intrusion related gold-copper style deposits that have bulk tonnage potential.
Gradiste Gold–Copper Target Area
EMX’s Gradiste regional soil sampling program, comprising 170 samples collected at a 200 meter grid spacing, covers an area of 5.87 square kilometers, and delineates a copper soil anomaly (from 100 to 450 ppm) which forms a 2500 x 500 meter core anomalous zone. Outcropping copper mineralization in this zone includes six meters averaging 0.56 percent copper and 0.482 ppm gold. Strongly anomalous values of gold-in-soil occur peripheral to the copper zone, and range from 0.036 – 0.489 ppm, with one exceptional value of 8.66 ppm gold.
The gold-copper mineralization occurs within the soil anomalous area, and is associated with structurally controlled quartz-carbonate veins and veinlets and copper-bismuth-gold-silver vein mineralization such as at the abandoned Aldin Do mine. Rock chip sampling results from Gradiste are summarized below.
• Road-side outcrops about 50 meters above abandoned adit #2, northeast of Gradiste village, expose steeply dipping structures, 0.30 to 0.50 meters wide, marked by iron and copper oxides in brecciated gabbro. Rock chip samples of this material yielded 50.4 ppm gold and 1.62 percent copper, and 28.2 ppm gold and 1.73 percent copper. Systematic chip channel sampling across these structures yielded one meter at 5.44 ppm gold and 0.56 per cent copper, and six meters at 3.76 ppm gold and 0.17 percent copper.
• Chip channel samples (11 samples total, with each sample two meters in length cross-cutting the strike of the mineralized structure) in abandoned adit #2 average 1.90 ppm gold (ranging from 0.244 to 5.52 ppm gold).
• Chip channel samples (34 samples total, with each sample two meters in length cross-cutting the strike of the mineralized structure) in a 70 meter road cut of sheared gabbros intruded by argillised granodiorite average 0.36 ppm gold (range 0.013 to 1.73 ppm gold) and 0.30 percent copper (range 0.03 per cent to 1.6 percent copper).
• Reconnaissance rock sampling of float (11 samples) in the Miljanina Cuka area yielded an average of 10.8 ppm gold (maximum 55 ppm gold) and 0.32 percent copper (maximum 0.78 percent copper).
Aldinac Gold – Copper Target Area
The Aldinac area hosts occurrences of copper, gold, tungsten and uranium mineralization associated with quartz-sericite-pyrite alteration of granodiorite. A total of 12 samples were collected from altered granodiorite, which is marked by stockwork of quartz veinlets with copper and iron oxides. These samples yielded average grades of 0.85 ppm gold and 0.58 percent copper with the best samples reporting 3.24 percent copper and 3.60 ppm gold and 2.96 per cent copper and 0.51 ppm gold.
The 2006 field season will include further soil sampling to define the limits of the anomalous soil geochemistry at Gradiste, followed by detailed geological mapping, systematic sampling of trenches and outcrops, and magnetic and induced-polarization surveys in order to identify drill targets. Further followup work will also continue in the Aldinac area.
Comments on Sampling, Assaying, and QA/QC
The Company’s 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 multielement 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
Phone: (303) 979-6666
Kim C. Casswell
Officer Corporate Secretary
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.