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Eurasian Minerals Inc.
Summary
| Project: | Malmyzh | |
|---|---|---|
| Deposit: | Malmyzh | |
| Location: | Russia | |
| Commodities: | Copper-Gold | |
| Date: | 1/24/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 24-1-2017: Eurasian Minerals Inc. announces an Exploration/Drilling Update report for its Malmyzh deposit at the Malmyzh project. JV - Drilling results incl. 747.4m @ 0.17g/t Au, 0.41% Cu from 108.7m . Eurasian Minerals Inc. (the “Company” or “EMX”) is pl | |
| Resources: | Resources (total): 1.661Mt @ 0.34% Cu & 0.17g/t Au (Inf) | |
| CP/QP: | [Overall Report]: Dean Turner (Not Stated) | |
| ABSTRACT: | Eurasian Minerals Inc. (the “Company” or “EMX”) is pleased to announce initial results from the fall-winter drill program at the Malmyzh copper-gold porphyry project, including the longest mineralized intercept drilled to date on the property. Drill hole AMM-213 intersected 747.4 meters (108.7-856.1 m) averaging 0.49% copper equivalent (0.41% copper and 0.17 g/t gold) principally hosted in phreatomagmatic breccias and diorite porphyries at the Freedom Northwest prospect. The hole doubled the drilled vertical extent of the Freedom Northwest system, while bottoming in mineralization. In addition, reconnaissance drilling at the Sleeper West prospect intersected a shallow zone of 109 meters averaging 0.58% copper equivalent (0.53% copper and 0.09 g/t gold) starting at 13.5 meters in hole AMM-210. Freedom Northwest and Sleeper West are not included in the current Malmyzh resource estimate, which underscores the project's additional exploration upside (see EMX news release dated May 26, 2015). The Malmyzh exploration and mining licenses are held by IG Copper LLC ("IGC") (51%) and FreeportMcMoRan Exploration Corporation (49%) (the "Joint Venture"), with IGC operating and managing the project. EMX is IGC’s largest shareholder with 39% of the issued and outstanding shares. IGC resumed exploration work, including diamond drilling, after receiving government "Project Plan" approvals in October, 2016. A priority target for follow-up drilling was the Freedom Northwest prospect, which is adjacent to the Freedom Southeast inferred resource deposit. Freedom Northwest and Freedom Southeast encompass a large area (i.e., > 4 square kilometers), and are defined as two sub-parallel, northeast trending zones of alteration and mineralization hosted in a complex assemblage of diorite porphyries, multi-stage breccias, and hornfels that are coincident with two prominent magnetic high anomalies. | |
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