Akarca

Location
Bursa Province, Türkiye

Operator
Çiftay İnşaat Taahhüt ve Ticaret A.Ş. 

Commodity
Gold-Silver

Royalty
1-3% NSR/Staged Payments

The Akarca property is an EMX grassroots discovery consisting of six separate epithermal gold-silver mineralized centers occurring within a district-scale area in northwestern Türkiye. The geology at Akarca 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 expanded the known extent of the property’s prospects, while identifying new gold-silver mineralization concealed beneath a shallow cover of soil and vegetation. Exploration completed to date includes >370 core and reverse circulation holes totaling >40,000 meters of drilling and property-wide geologic mapping, geochemical sampling, and geophysical surveys. This work has been conducted primarily through partner-funded programs. 

EMX sold AES Madencilik A.S., the wholly-owned EMX subsidiary that controls the Akarca project, to Çiftay İnşaat Taahhüt ve Ticaret A.Ş., a privately owned Turkish company (see EMX news release dated August 8, 2016). The terms of the sale included a US $2M up-front cash payment, staged gold bullion payments of 500 oz (or the cash equivalent) every 6 months up to a total of 7,000 oz, a sliding scale NSR royalty ranging from 1-3% that is uncapped and cannot be bought out or reduced, and work commitments.

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.

Maps

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Photos

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