Zlot Brestovac Exploration Permit
The 77 square kilometer Zlot Brestovac Exploration Permit is located 150 kilometers southeast of Belgrade, and consists of two separate areas, Zlot (52 sq km) and Brestovac (25 sq km). The northern boundary of the Brestovac area is located about 2.5 km south of the Bor mining district. Bor, one of Europe’s most prolific metal producers, consists of over 29 ore bodies that have yielded more than 100 million pounds of copper at an average grade of 1-2 percent, and 5.1 million ounces of gold at an average grade of 3.2 grams/tonne, and in 2000 state reported “geological resources” were 621 million tonnes grading 0.63 percent copper and 0.23 grams/tonne gold (Copper Mining and Smelting Combine, RTB Bor, October 2002). These “geological resources” are not National Instrument 43-101 compliant, but are reasonably assumed to represent the grade and tonnes of material reported.
The property occurs in the southern Timok Magmatic Complex, and is underlain by Cretaceous volcanic rocks, limestones, and andesitic and dacitic intrusive rocks. The southern extension of the Bor Fault passes through the Brestovac sector of the Exploration Permit.
The Brestovac area contains several copper and gold occurrences, as well as indications of ancient gold mining. Pre-World War II underground exploration at Brestovac focused on gold, copper and copper-zinc mineralization. Copper exploration was conducted from the 1950’s through 1970’s and again in the 1980’s by the Geological Department of the Copper Institute in Bor, and consisted of geologic mapping, geochemical sampling, geophysical surveying, and diamond drilling. This work defined several altered and mineralised zones. Additional targets delineated by geophysical exploration have not yet been drill tested. Hydrothermal alteration, including secondary silicification, is recorded within the Permit. The Company has obtained data pertaining to earlier exploration, and is currently compiling this information.
Borovo - Donje Nevlje Exploration Permit
The 75 square kilometer Borovo - Donje Nevlje Exploration Permit is located 270 kilometers southeast of Belgrade near the border with Bulgaria, and occurs in a similar geologic setting and possesses many of the attributes associated with the copper and copper-gold ore deposits in the Timok Magmatic Complex and Bulgaria’s Srednjegorje-Panadjurište copper-gold district.
The property is underlain by Cretaceous latite, andesite, and limestone rock units. Copper exploration conducted during the 1960’s by the Geological Department of the Copper Institute in Bor included geological mapping, geochemical sampling, geophysical surveying, trenching at Borovo and diamond drilling at Donje Nevlje. Two areas of hydrothermal alteration containing occurrences of copper mineralization were identified. No records of gold analyses have been reported. The Company is currently compiling data pertaining to earlier exploration, and considers that the Borovo - Donje Nevlje Exploration Permit is under-explored for its gold potential.
Statement on Government Generated Exploration Results
The Company is referencing historical work by government geological agencies of the former Yugoslavia, as well as present day Serbia. The Company is currently compiling all the available data, and will initiate field exploration after the winter season.
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.