Caraci-Birtin Exploration License
The Caraci-Birtin Exploration License (the “License”) was granted to the Company after successfully participating in a competitive tender process. The 35.24 square kilometer License occurs in central Romania’s “Golden Quadrilateral” mining district (the “District”), and is valid for five years. Gold has been exploited for over two millennia from numerous locations in the District, which includes Europe’s largest gold deposit at Rosia Montana (measured and indicated resources of 14.6 million ounces gold reported in 2005 by Gabriel Resources Ltd). The Golden Quadrilateral’s precious metal mineralization is epithermal, and associated with Neogene calc-alkaline volcanism.
The abandoned Caraci gold mine is located within the License. Historical reports by state-owned exploration companies estimate that about 500,000 tonnes of ore were extracted from high-grade quartzpyrite veins at a grade of approximately 15 grams/tonne (g/t) gold. In the course of due diligence, the Company has re-assayed 41 pulps from drill core samples collected during the historical exploration activity. The analytical results confirm those from the previous work, and yielded values ranging from 0.17 to 25.5 g/t gold with an average grade of 4.40 g/t gold. EMX considers the historical reports to be reliable and relevant in light of the Company’s independent due diligence results.
Previous work by state-owned agencies in the Birtin area was focused on evaluating lead-zinc-silver veins that are hosted by propylitized granodiorite. Reconnaissance work by the Company identified a previously unrecognized silica-alunite alteration cap on the granodiorite. In total, 44 rock samples were collected by the Company, yielding values ranging from 0.01 to 2.19 g/t gold. Three samples contained greater than 1 g/t gold. Re-assay of 22 pulps from samples collected during earlier exploration activity by state-owned agencies yielded values ranging from 0.22 to 27.6 g/t gold, with an average of 1.44 g/t gold. The analytical results confirm those from the previous work.
The Company has acquired relevant data pertaining to previous exploration at Caraci and Birtin by stateowned agencies from the Romanian authorities. After compilation of the data and completing the necessary permitting procedures, EMX will commence an exploration program in both target areas in spring 2009.
Other EMX Activities in Romania
Exploration by the Company in its Sopot Exploration License’s Pucaru prospect has identified favorable geology and alteration hosting a robust geochemical anomaly (> 100 ppm copper in soil) over an area of about four square kilometers. The results from the summer 2008 field campaign of mapping, soil sampling and trenching are currently being evaluated. Sopot occurs in the Cretaceous Banat belt extending north from the Bor and Majdenpek porphyry copper-gold mines in Serbia.
Comments on Sampling, Assaying, and QA/QC
Geochemical samples were collected in accordance with accepted industry standards and procedures. The samples were submitted to the ALS Chemex laboratory in Rosia Montana, Romania (ISO 9001:2000 accredited), and Vancouver, Canada (ISO 9001:2000 and 17025:2005 accredited) for analysis. Gold was analyzed by fire assay with an AAS finish, and multi-element analyses were determined by ICP MS/AES techniques. Routine QA/QC analysis on all assay results, including the systematic utilization of certified reference materials, blanks, field duplicates, and umpire laboratory check assays is ongoing.
EMX is exploring and investing in a first class mineral property and royalty portfolio in some of the most prospective, but under-explored mineral belts of the world.
Dr. Duncan Large, Eur. Geol., C. Eng., 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.
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