Prospect Overview and Soviet-era Exploration
Orgatash occurs within EMX’s 336 square kilometer Gezart exploration license in the Kyrgyz Republic’s Southern Tien Shan gold belt. The prospect is underlain by hornfelsed shale and siltstone sedimentary rocks cut by a Permian-aged granodiorite stock. This geologic setting is favorable for the occurrence of intrusion-hosted gold deposits given the well-documented relationship between Permian-aged granite and granodiorite and gold mineralization in the Tien Shan.
Gold mineralization at Orgatash was first recognized by Soviet geologists in 1980. Soviet soil sampling defined a 2.5 square kilometer area of anomalous gold with elevated levels of silver, arsenic, and bismuth. The mineralization appears to be controlled by a northwest trending shear zone. Eleven Soviet trenches and eight rock sample profiles were sampled along a northeast orientation.
EMX Exploration Results
EMX’s 2004 regional stream sediment sampling on the Gezart license returned a strongly anomalous 830 ppb gold sample that directed interest to the Orgatash prospect. In 2005 EMX rehabilitated and resampled two Soviet-era trenches spaced approximately 300 meters apart and oriented perpendicular to the interpreted northwest strike of the gold mineralized trend. The trenches exposed mineralized granodiorite in trench K-36 and hornfels in K-146. (see Table below and EMX news release dated February 24, 2006).
EMX’s 2006 program included cutting five new trenches as well as additional re-sampling of trench K- 145 and K-146 to further characterize the grade, continuity, and extent of mineralization. The more than 900 meters of EMX trench samples consistently encountered significant levels of gold mineralization. Approximately 80 % of the gold assays were greater than 0.1 g/t, and 60% greater than 0.3 g/t. The pervasively mineralized footprint of the Orgatash intrusion-hosted gold system delineates a 350 by 300 meter area that remains open in all directions for further exploration. The best trench (T-1) returned a mineralized interval in granodiorite averaging 1.48 g/t gold over 208.3 meters, with higher grade subintervals of 20 meters averaging 4.52 g/t gold and a 12 meters averaging 5.58 g/t gold.
Notes: Intervals calculated at: A) 0.3 g/t cutoff with minimum 10 m length and maximum 5 m internal dilution, B) 1.0 g/t cutoff with minimum length of 6 m and maximum 3 m internal dilution. All trenches oriented northeast to yield approximate true thickness intervals. Trenches were channel sampled with nominal sample lengths of 1 to 5 meters and sample weight of approximately 5 kilograms.
The grade, continuity, size, and intrusion-hosted deposit setting of the Orgatash prospect represents an excellent bulk tonnage gold target for drill testing. Further, the gold mineralization as now defined on surface is open in all directions. EMX continues to compile and integrate both Soviet and Company exploration results in anticipation of an accelerated exploration program in 2007.
Comments on Historic Results, Sampling, Assaying, and QA/QC
EMX’s rock chip geochemical samples were collected in accordance with accepted industry standards. The samples were submitted to the ISO 9001:2000 registered and ISO 17025 accredited ALS Chemex laboratory in Vancouver, Canada or the ISO 9002 certified Alex Stewart (Assayers) Limited laboratory in Karabalta, Kyrgyz Republic for sample preparation and analysis. Gold was analyzed by fire assay with an AAS or ICP finish. Multi-element analyses were determined at Chemex’s Vancouver laboratory by ICP MS/AAS techniques. 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.
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 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.