The Kuru Tegerek exploration license is located in the Sandalash Range, Chatkal valley, western Kyrgyzstan. The region is underlain by folded and faulted late Paleozoic carbonate and siltstone sedimentary units. These sedimentary units serve as excellent host rocks for mineralization, and have been intruded by Permian age dioritic stocks known to be related to mineralization within Kyrgyzstan’s northern Tien Shan metallogenic belt. Gold, copper-gold, copper, and coppermolybdenum skarn mineralization has been described from the past Soviet work.
The characteristic deposit type in the region is exemplified by the Company’s Kuru Tegerek copper-gold skarn deposit. Open pit oxide “mineable resources” were reported in 2001 by Pincock, Allen, and Holt as 2.1 million tonnes with average grades of 0.53% copper and 2.88 g/t gold, assuming then current metal prices of $275/ounce gold and $0.80/pound copper (see Company news release dated June 11, 2004). The Company is currently re-evaluating the Kuru Tegerek resource potential in light of today’s higher metal prices and improved metallurgical processing technologies.
In addition to the Kuru Tegerek deposit, a number of copper-gold occurrences in the region are described in the Soviet exploration reports dating from the 1960’s to 1981. As the Kuru Tegerek exploration license has very recently been acquired by the Company, the Soviet sampling and mapping results have not yet been independently confirmed by the Company. However, the Company reasonably assumes that the Soviet results are representative of the extent and tenor of mineralization. Some of the mineralized prospects described from Soviet exploration reports (P. Paseka and others, 1981, “Report on results of preliminary exploration of Kuru Tegerek coppergold deposit”, unpublished government document; V. Menchikov and others, 1983, “Report on resource evaluation works at Kuru Tegerek 1 and Sulu Tegerek”, unpublished government document) are summarized below:
The Kuru Tegerek 1, Kuru Tegerek 2 and Kuru Tegerek 3 copper-gold skarn prospects are located approximately 0.7 to 2 kilometers north of the Kuru Tegerek copper-gold deposit. The Kuru Tegerek 1 gold-copper mineralized zone is reported to have a strike length of 1850 meters and an average thickness of 11.9 meters. The average copper grade is 0.63% and the average gold grade is 0.3 g/t, as determined by drill holes, underground samples, and surface workings The Kuru Tegerek 2 and 3 occurrences are insufficiently explored to report the grade or extent of mineralization, but appear to have similar characteristics to the Kuru Tegerek 1 prospect.The Company is currently mapping and sampling these and other prospects within the Kuru Tegerek exploration permit, and is looking forward to reporting these results as work continues on the property during the current field season.
Sulu Tegerek 1 and Sulu Tegerek 2 are copper-gold skarn prospects located approximately 3.7 - 4.5 kilometers east-northeast of the Kuru Tegerek gold-copper deposit. The mineralized zone at Sulu-Tegerek 1 was exposed by trenching along a 190 meter strike length and has an average thickness of 11 meters. The average copper grade is 1.4% and the average gold grade is 1.0 g/t. The Sulu Tegerek 2 prospect is characterized by gold-copper mineralization hosted by a folded marble unit that is cut by dikes and apophyses of quartz diorite. One of the best mineralized zones extends for 180 meters along strike and is 4.7 meters thick. The copper grade varies between 0.47% and 2.58%, and the gold content varies between 0.8 g/t to 4.7 g/t.
Mr. Dean Turner, P.Geo., a Qualified Person as defined by National Instrument 43-101 and consultant to the Company, has reviewed and verified the technical mining information contained in this news release.
For further information contact:
David M. Cole
President and Chief Executive Officer
Phone: (303) 979-6666
Kim C. Casswell
Phone: (604) 688-6390
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Some of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Eurasian Minerals Inc. Actual results may differ materially from those currently anticipated in such statements.