Vancouver, British Columbia, November 1, 2007 (TSX Venture: EMX) - Eurasian Minerals Inc. (the “Company” or “EMX”) is pleased to announce this field season’s drilling and trenching results from the Orgatash project in the southern Kyrgyz Republic. The drill results include a 56.5 meter interval averaging 1.27 g/t gold. Trench T-1-NE returned a continuous mineralized interval of 46.2 meters at 2.40 g/t gold and trench T-9 returned 31.6 meters at 2.96 g/t gold. These results delineate a significant intrusion-related gold system that remains open to the northeast and southwest (please see map accompanying this news release).
Prospect Overview and Soviet-era Exploration
Orgatash occurs within EMX’s 336 square kilometer Gezart exploration license in the Kyrgyz Republic’s Southern Tien Shan gold belt. The prospect is underlain by hornfels altered sedimentary rocks cut by a Permian-aged granodiorite stock. This geologic setting is favorable for the occurrence of intrusion-related gold deposits given the well-documented relationship between Permian-aged granite and granodiorite and gold mineralization in the Tien Shan. Gold mineralization at Orgatash was first recognized by Soviet geologists in 1980, and EMX’s work in 2004-2006 established the prospect’s importance as a bulk mineable gold exploration target.
EMX drilled three core holes totaling 710.1 meters of sampling. Drill hole ODDH-1 was drilled at the northern most limit of the gold mineralized zone delineated by surface sampling. The hole intersected gold mineralization within a hornfels unit, thereby establishing the continuity of gold mineralization below cover and extending beyond the main granodiorite intrusive. Holes ODDH-2 and ODDH-3 intersected significant gold mineralization and altered granodiorite porphyry with abundant sheeted quartz veins and carbonate veining. A tabulation of significant gold intervals is given below.
Based on the core logs and trench mapping, the gold mineralized granodiorite intrusion has undergone multiple generations of quartz and carbonate veining.
EMX’s 2007 exploration program has confirmed that Orgatash is a significant intrusion-related gold target with bulk tonnage potential given by the continuity of the mineralization on surface, as well as at depth. In addition this year’s work has increased the size of the gold mineralized zone, which still remains open to the northeast and southwest.
EMX’s 2007 field work at Orgatash consisted of a comprehensive program of geological mapping, geochemical sampling, geophysical surveys and scout drilling. Over four kilometers of drill road was constructed, an exploration grid measuring 1.6 x 1.6 kilometers was surveyed in, ground magnetic, radiometric and IP surveys were carried out over the exploration grid, and approximately 1000 rock samples from trenches and road cuts were collected. The geophysical studies suggest that the granodiorite intrusion appears to be more extensive then delineated by surface mapping, and define a number of additional exploration targets both within and outside of the current project area. The trenching and rock chip sampling outlined a 500 by 300 meter (open to the northeast and southwest) footprint of anomalous (greater than 0.1 g/t Au) gold mineralization associated with the granodiorite intrusive, and a higher grade (greater than 0.3 g/t Au) 200 by 80 meter anomaly within it.
The 553 meters of trenches excavated in 2007 augmented the 1115 meters of previous EMX trenching, and were extensions to last year’s northeast trending trenches, or were cut perpendicular to them. The 2007 trench results are summarized in the table below:
Comments on Sampling, Assaying, and QA/QC
EMX’s drill and geochemical samples were collected in accordance with accepted industry standards. The samples were submitted to the ISO 9002 certified Alex Stewart (Assayers) Limited laboratory in Karabalta, Kyrgyz Republic for sample preparation and analysis. Gold was analyzed by fire assay with an AAS finish. Selected intervals for multi-element analyses were determined by ICP /AES techniques. As standard procedure, 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.
EMX is exploring and investing in a first class mineral property and royalty portfolio in some of the most prospective, but under-explored mineral belts of the world.
Mr. Michael P. Sheehan, P.Geo., a Qualified Person as defined by National Instrument 43-101 and consultant to the Company, has reviewed and verified the technical 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.