The Valve House project is located 20 km SSE of Pocatello, Idaho and is a Carlin-type gold project hosted within Cambrian-Ordovician silty limestone units. The project has stratigraphically (and structurally?) controlled jasperoid anomalous in Au-Ag-As over a 9 km2 area, up to 3.12 g/t Au in rock chip (n=274, avg. 0.213 g/t Au), and widespread > 1 g/t Au samples. Localized soil grids highlight three gold-in-in-soil anomalies open in at least one direction. Two anomalies have never been tested by drilling.
Host rocks are Cambrian to Ordovician limestone and dolomite with multiple primary structural orientations (NNE dominant?) controlling mineralization with secondary stratigraphic control. Alteration consists of jasperoid in limestone and silicification/decalcification in clastic units.
Targets include near surface, oxide Carlin-type gold that have widespread oxidized jasperoid anomalous in Au-Ag-As. There are also three discrete gold-in-soil anomalies with two remaining incompletely tested by drilling and soil anomalies are open in at least one direction. The Valve House project has many opportunities to utilize property wide geochemistry and geophysics to identify new target areas
In late 2021 EMX has entered into an agreement with Hochschild Mining PLC (LSE: HOC) (“Hochschild”) for the project. The Agreement provide EMX with work commitments and cash payments during Hochschild’s earn-in period, and upon earn-in for a given project, a 4% net smelter return (“NSR”) royalty, annual advance royalty payments, and milestone payments.