The Brestovac area is situated three kilometers south of the world-class Bor mining district in the Timok Magmatic Complex. The Timok Magmatic Complex is Serbia’s principal copper-gold mining region and has an estimated metal endowment of approximately 20 million tonnes of copper and 1000 tonnes of gold (Jankovic et al., in The Bor Copper and Gold Deposit, Bor Copper Institute, Bor, 2002).
The Company’s exploration drill results are very encouraging, and suggest that the gold mineralization at Brestovac may be geologically similar to the near-by Bor copper-gold ore bodies. The results from Company soil sampling reported below demonstrate that the extent of the near-surface gold mineralization remains open on two sides. The Company is now pursuing an aggressive follow-up field program to define targets for a new drilling campaign this fall.
Brestovac Geologic Overview
Cretaceous andesitic volcanics, volcaniclastics and sediments, and sub-volcanic intrusives of the Timok Magmatic Complex dominate the geology of the Brestovac sector. Several occurrences of copper and zinc mineralization and historical small-scale mining are recorded from within the Exploration Permit. The Company has initially targeted a two square kilometer area characterized by hydrothermal alteration, base and precious metals mineralization, and a zone of “ancient gold workings” indicated from 1920’s era maps.
EMX Drill Results
The Company’s BN-01 core hole was drilled to follow-up information pertaining to a 1970 diamond drill campaign, as well as to obtain a better geological understanding of the property. BN-01 was drilled vertical to a depth of 296.80 meters. The hole intersected a series of andesite tuffs, fragmental volcanics and tuffaceous sediments displaying various styles of hydrothermal alteration (primarily propylitisation, argillisation, silicification, pyritisation). Gold mineralization is associated with silicification and brecciation, and occurs at several intervals in the hole. Significant gold mineralization occurs at the top of bedrock, which is covered by 9.10 meters of overlying clays and soil.
EMX Soil Sampling
The Company has also conducted a soil sampling program to characterize the surface expression of mineralization in the area of the BN-01 drill site. A twenty-two sample soil grid consisting of three profiles spaced 150 meters apart, with samples taken at 50 meter intervals demonstrates a 150 by 150 meter mineralized zone with greater than 100 ppb gold (9 samples, maximum 1290 ppb gold), within a broader 320 by 250 meter zone with greater than 40 ppb gold (14 samples). The soil anomaly encompasses the BN-01 drill site, as well as part of the area mapped as “ancient gold workings”. This anomalous gold zone is open to both the south and east.
Statement on Government Generated Exploration Results
The Company has referenced historical work by government geological agencies of the former Yugoslavia, as well as present day Serbia. The Company believes that the historic results are relevant, and is continuing to perform independent verification and follow-up during the current field season.
Comments on Sampling, Assaying, and QA/QC
The Company’s drill and geochemical samples were submitted to the ISO 9001:2000 accredited ALS Chemex laboratory in Vancouver, Canada for analysis: gold was analyzed by fire assay with an AAS finish, and multi-element analyses were determined by ICP MS/AAS techniques. The Company conducts routine QA/QC analysis on all assay results, including the systematic utilization of certified reference materials, blanks, field duplicates, and umpire laboratory check assays.
Dr. Duncan Large, Chartered Engineer (UK) and Eur. Geol., 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.