Vancouver, British Columbia, February 17, 2009 (TSX Venture: EMX) – Eurasian Minerals Inc. (the “Company” or “EMX”) is pleased to announce drill results from the Elmali gold project located in Turkey, including an intercept of 6.1 meters averaging 6.0 g/t gold, including a subinterval of 2.6 meters averaging 13.2 g/t gold. Elmali is under an option and joint venture agreement with a subsidiary of Centerra Gold Inc., which has exclusive rights to earn up to a 70% interest in the property (see Company news release dated January 6, 2009).
Property Overview. The Elmali property is located in the Biga Peninsula region of western Turkey. EMX controls three exploration licenses covering 4,044.5 hectares. The geology consists of Permian schists and marbles that are overlain by, and in fault contact with, Neogene rhyolitic tuffs and volcanic breccias. This northwest-southeast trending structural contact is characterized by anomalous gold geochemistry (>1 ppm Au rock and >10 ppb Au soil samples) that extends discontinuously for three kilometers of strike length. Gold-silver mineralization occurs in low sulfidation quartz veins developed along structures at the contact zone, and in a chalcedonic silica cap breccia. From the fifteen rock samples taken along trend, nine samples returned greater than 1 ppm gold, including one sample returning 7.8 ppm gold and 25.8 ppm silver.
Drill Results. EMX’s drill program consisted of four core holes totaling 300.8 meters. The drilling confirmed the shallow down-dip continuation of the gold mineralization within the main vein target, and tested two sub-parallel veins. Gold mineralization is strongest within the veins, which occur within a broader alteration halo (10-15 m) of silicification and lower grade gold. Less than 100 meters of strike length have been drill tested, with mineralization open along trend and to depth.
|Drill No||From(m)||To (m)||Interval (m)||Au g/t|
|Intervals calculated at 0.3 g/t Au cutoff with a maximum of one sample|
of internal dilution. True thickness estimated at 80% of reported
There are additional drill targets along strike, as well as a brecciated silica cap target located 2.5 kilometers to the northeast. The silica cap covers an area of 250 meters by 250 meters on a hill where surface rock samples have yielded up to 3.9 ppm gold.
Corporate Update. EMX’s Exploration Manager - Haiti, has been granted a bonus by the issuance of common shares of the Company in the amount of US$70,000, subject to regulatory approval. This bonus is in recognition of his efforts for assisting the Company in the acquisition of the Grand Bois property, as well as the selection of the property as a “Designated Project” under the Strategic Alliance Venture Agreement between the Company and Newmont Ventures Limited. The common shares will be subject
to all applicable regulatory hold periods.
Comments on Sampling, Assaying, and QA/QC. EMX samples were collected in accordance with accepted industry standards and procedures. Samples were submitted to ISO 9001:2000 and 17025:2005 accredited ALS Chemex laboratories in Vancouver, Canada for analysis. Gold was analyzed by fire assay with an AAS finish, and silver was determined by ICP MS/AES. EMX performs routine QA/QC analysis on the assay results, including the systematic utilization of certified reference materials, blanks, and field duplicates.
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. Mesut Soylu, 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 nor the Investment Industry Regulatory Organization of Canada accepts 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.