The Akarca royalty property, located in northwestern Turkey, is an organically generated district scale discovery highlighted by six low sulfidation gold-silver mineralized prospects. Akarca was sold to Çiftay İnşaat Taahhüt ve Ticaret A.Ş. (Ciftay), a privately owned Turkish company, for US$2 million cash, staged pre-production payments, work commitments and a sliding scale 1% - 3% royalty on production that is uncapped and cannot be reduced. (see Company news release dated August 8, 2016).
Akarca’s geology is dominated by conglomerates and sandstones that unconformably overlie schists, limestones and granitic basement. The gold-silver zones occur as structurally focused vein-style mineralization, as well as disseminated-style mineralization in silicified hanging and footwall zones. The quartz veins typically host higher-grade mineralization, while the silicified halos in the wall-rocks host lower-grade disseminated mineralization.
Successive drill campaigns at Akarca have consistently expanded the known extent of the property’s prospects, while identifying new gold-silver mineralization concealed beneath a shallow cover of soil and vegetation.
Ciftay has advanced the project through drilling and metallurgical and engineering studies. Ciftay’s field programs have been suspended since 2019 while awaiting government permit approvals.
Akarca in-house resource estimates by Ciftay do not meet NI 43-101 disclosure requirements
For more informationsee EMX news releases dated December 21, 2010, July 19, 2012, October 30, 2012, January 18, 2013, March 1, 2013, June 20, 2013, August 22, 2013, January 27, 2014, July 17, 2014, March 2, 2015, August 8, 2016, February 8, 2017 and April 17, 2018.