Las Animas

The Las Animas royalty asset is situated along the highly productive Coastal Mineral Belt in northern Chile, which hosts numerous important iron, copper and gold mines and projects, including numerous “IOCG” (Iron-Oxide-Copper-Gold) type deposits. Las Animas is centered 13 km to the northwest of the Mantos Copper’s Manto Verde IOCG copper mine, which has estimated total reserves of 590 Mt copper at an average grade of 0.60% Cu. This nearby mine provides geologic context for EMX’s royalty asset, but this is not necessarily indicative that the project hosts similar mineralization. North-south, northwest-southeast and east-west structures are commonly observed at the Las Animas property, often with IOCG-type mineral occurrences along them. A particularly prominent northwest-southeast structural trend extends from the Manto Verde mine area and crosses the Las Animas property. Chlorite-epidote alteration is common across the property, together with sodic alteration in the form of albite. Numerous small copper showings across the property are associated with this alteration suite, together with variable amounts of specular hematite and/or magnetite. Calcite, quartz and siderite are associated with some of the mineralized structures. Historical gold and copper anomalies in stream sediment data, together with limited rock-chip sampling data, suggest potential areas for detailed follow-up. The current property owner is Atacama Copper Exploration (“Atacama”), a private Canadian company, who agreed to spend U.S. $250,000 in exploration activities and drill test the property by Q4 2021. EMX acquired the 1.5% NSR royalty asset from Revelo Resources in 2020 (see EMX Press Release dated March 26, 2020).