Balya

EMX’s Balya royalty property occurs in the historic Balya lead-zinc-silver mining district of northwestern Turkey. Private Turkish company Dedeman Madencilik San ve Tic. A.S. (“Dedeman”) is the owner and operator of Balya, with EMX retaining an uncapped 4% NSR royalty on the property.

The Balya license was acquired by EMX in a 2005 government auction after review of historic exploration results. In 2006 EMX entered into an agreement to sell the Balya property to Dedeman in exchange for cash payments, work commitments, a 4% NSR royalty, and the Alankoy gold-copper property (see EMX news release dated November 14, 2006).

Mineralization at Balya consists of Pb-Zn-Ag rich skarn and carbonate replacement zones hosted in limestones and dacites. Hastanetepe is the main mineralized prospect, and occurs as a shallow dipping, 750 by 350 meter zone of multiple stacked horizons of mineralization at depths ranging from 10-20 meters to 200-300 meters. In addition, a zone of mineralization was intersected by Dedeman’s reconnaissance drilling (the Southern Zone) ~500 meters to the south of Hastanetepe. Recent drilling has been filling in the gap between the Hastanetepe zone and the Southern Zone mineralization

Dedeman’s drill programs have resulted in over 220 core holes totaling more than 40,000 meters. This drilling has expanded the lead-zinc-silver mineralization in the Hastanetepe zone, and confirmed the continuity and tenor of the mineralization with in-fill holes at 25 to 50 meter spacing. Hastanetepe remains open for extension along strike, down dip, and to depth. Highlights of Dedeman’s drilling include:

Drill
Hole

From
(m)

To
(m)

Length
(m)

Pb
%

Zn
%

Ag
g/t

DB-1

87.0

100.0

13.0

6.74

1.40

82.73

DB-8

51.0

61.0

6.0

7.48

7.89

109.55

DB-20

201.0

209.0

8.0

6.60

6.50

97.20

DB-37

186.0

196.0

10.0

3.62

5.83

92.77

and

216.0

227.0

11.0

7.45

5.48

79.60

DB-53A

139.2

150.3

11.1

7.82

5.92

419.74

DB-59

243.0

282.5

39.5

7.60

1.74

158.00

DB-61A

172.8

187.1

14.3

18.15

9.14

242.40

DB-81

33.0

51.0

18.0

13.83

4.68

110.00

DB108

144.75

146.25

1.5

0.02

2.21

4.00

and

150.0

152.2

2.2

0.05

4.64

9.73

DB108-A

132.0

134.0

2.0

0.03

3.46

4.00

and

137.0

140.0

3.0

0.24

13.95

55.67

DB108-B

263.75

276.5

12.75

11.39

5.92

225.18

DB109-A

110.1

115.1

5.0

6.25

0.04

106.84

DB109-B

89

92.35

3.35

1.86

1.75

30.51

and

186.8

188.5

1.7

2.25

0.27

18.35

 

Note: true widths are estimated at 65-95% of the reported interval length. See Company news releases dated August 24, 2007May 21, 2008December 05, 2008August 11, 2011January 30, 2012October 02, 2012July 23, 2013, August 13, 2018 for more information on Dedeman’s drill results and a discussion of the Quality Assurance/Quality Control procedures used for the project.

Maps

Click to Enlarge

Photos

Historic mining ruins at Balya. Click to Enlarge
Lead-zinc-silver mineralized core sample from Balya. Click to Enlarge

Sofular and Aktutan


EMX has a royalty interest in the Aktutan polymetallic project sold to Dedeman in 2007 for considerations that also include a 4% uncapped NSR. The Sofular royalty property, also held by Dedeman, was dropped in Q1 2015 due to a lack of encouraging exploration results.(see Company news release dated August 30, 2007 for more information).