Vancouver, British Columbia, April 22, 2009 (TSX Venture: EMX) – Eurasian Minerals Inc. (the “Company” or “EMX”) is pleased to announce the discovery of the Chardonnay and Bordeaux high-grade copper-silver-gold prospects at the Treuil project in northwest Haiti. At Chardonnay, 63 reconnaissance rock samples taken over a 1.25 square kilometer area returned an average grade of 4.00% copper, including vein samples reporting 24.30% copper and 201 g/t silver, and 1.66% copper and 90.7 g/t gold. Rock sampling over a 1.9 square kilometer area at Bordeaux returned an average grade of 2.66% copper, including a vein sample returning 13.10% copper, 98 g/t silver and 1.7 g/t gold. The Chardonnay and Bordeaux prospects, taken together with the Champagne discovery reported previously, outline an 18 square kilometer district scale exploration target with consistent rock sample copper grades of over 1%, and associated gold grades increasing towards the south. EMX is exploring Treuil with Newmont Ventures Limited (“Newmont” or “NEM”), a wholly-owned subsidiary of Newmont Mining Corporation (NYSE:NEM), as part of its Regional Strategic Alliance exploration program (see Company news release dated April 28, 2008). Please see the attached map and the Company’s website at www.eurasianminerals.com for more information.
Overview. The Treuil license contains 88 square kilometers of mineral rights adjacent to, and contiguous with, the Company’s La Mine project on the north. EMX has reported high-grade copper-silver mineralization at the Champagne prospect, with trench sample results including 14 meters averaging 19.15% copper and 140 g/t silver (see Company news release dated October 7, 2008). The copper-silver mineralization at Champagne occurs in a series of sub-parallel structural zones that have been documented over a 1.3 kilometer long north-south trend.
EMX’s recent mapping and sampling has identified additional high-grade copper-silver and gold occurrences within a six kilometer by three kilometer northwest trending area of mineralization and alteration. This work resulted in the discovery of the Chardonnay and Bordeaux prospects. Chardonnay consists of structurally-controlled, high-grade copper-silver mineralization on trend with, and 2.5 kilometers south-southeast of Champagne. Notably, in addition to copper-silver mineralization, Chardonnay samples have returned consistently elevated gold assays. Together, Champagne and Chardonnay occur within a six kilometer long, north-northwest trending structural zone that hosts more than 380 recently documented copper-silver-gold occurrences. The Champagne-Chardonnay trend is open for extension along strike to the northwest and southeast. A second area of concentrated high grade copper-silver-gold occurrences has been identified at the Bordeaux prospect, located 1.5 kilometers northeast of Chardonnay, and two kilometers southeast of Champagne. Further work is necessary to delineate the extent of the mineralized systems at these two new prospects. However, it is apparent that Champagne and Chardonnay are within the same mineralized structural trend, and Bordeaux may represent a second, sub-parallel trend. Taken together, the Champagne, Chardonnay, and Bordeaux prospects have significant exploration potential as district scale, high-grade copper-silver-gold targets.
Chardonnay Copper-Silver-Gold Prospect. The mineralization at Chardonnay consists of copper-silver-gold mineralization hosted within variable, but generally north-northwest trending fault zones, and in adjacent deformed andesitic wall rocks. This is a similar geologic setting to mineralization found at the Champagne prospect. Mineralization also occurs in two shallow-dipping fault zones, each up to 10 meters wide, that are in turn cut by the steeply dipping, north-northwest mineralized faults. Copper mineralization occurs as primary chalcocite ± bornite + chalcopyrite in veins and as disseminated mineralization in the andesitic wall-rocks. The terrain is steep and densely vegetated, with samples collected from the available outcrops by EMX field crews. These outcrops frequently consist of resistant vein material, and a limited amount of wall rock. Initial channel and panel samples have identified high-grade copper-silver-gold mineralization in several areas at Chardonnay.
EMX collected 63 rock samples over a 1.25 square kilometer area that averaged 4.00% copper (min=0.004, max=24%), 42 g/t silver (min=0.05, max=211 g/t), and 4.2 g/t gold (min=0.001, max=90.7 g/t). Of these 63 samples, 59% assayed more than 1% copper, 43% over 0.5 g/t gold, and 35% better than 30 g/t silver. A table of significant Chardonnay sample results is listed below. Of note, the wall rock can also host high-grade mineralization, as highlighted by panel sample 10284 in the table.
|Cu %||Ag g/t||Au g/t|
Chardonnay - significant rock samples with copper > 10% or gold > 10 g/t.
Bordeaux Copper-Silver-Gold Prospect. Bordeaux is located east of the Champagne-Chardonnay trend, and is characterized by a concentration of copper-silver-gold veins and disseminated mineralization adjacent to, and within, the north-northwest trending Danty fault zone. Near-source stream boulders of porphyry-stockwork style copper-gold mineralization are also present. Mineralization within, and on, the west side of the fault zone is hosted in deformed andesitic volcanic rocks. Of note, visible gold was identified in one sample from a series of narrow, closely spaced, quartz-epidote-chalcocite-bornite veins. On the east side of the Danty fault zone, the andesitic rocks host widespread and pervasive propylitic alteration. Mineralization at Bordeaux occurs as bornite-chalcopyrite with gold and silver.
EMX collected 52 rock samples at Bordeaux, covering a 1.9 square kilometer area, that averaged 2.66% copper (min=0.01, max=13.1%), 18 g/t silver (min=0.1, max=107 g/t), and 0.5 g/t gold (min=0.002, max=7.8 g/t). From these 52 samples, 50% assayed greater than 1% copper, 21% more than 0.5 g/t gold, and 21% greater than 30 g/t silver. A table of significant Bordeaux sample results is listed below.
|Cu %||Ag g/t||Au g/t|
Bordeaux - significant rock samples with copper > 10%.
Discussion. The Treuil property is marked by a well-defined structural zone that hosts unusually consistent high grades of copper and silver on the north end at Champagne, and high concentrations of copper, gold and silver, on the south end at Chardonnay. EMX’s reconnaissance mapping and rock sampling suggests the two prospects occur within the same structural zone and are likely related. Mineralization and alteration at the Bordeaux prospect occurs east of the Champagne-Chardonnay trend, and appears to have porphyry-copper affinities.
Additional high-grade copper-silver-gold occurrences have been identified outside of these mineralized prospects and zones, including 31 reconnaissance rock samples (out of 261 total) reporting more than 1.0% copper. These results indicate the property has considerable upside exploration potential outside of the currently defined areas. Additional mapping, sampling, and trenching are needed to determine the widths of the mineralized structures and zones, and to further evaluate the distribution of high-grade mineralization within the Treuil property.
|Cu %||Ag g/t||Au g/t|
Recon Samples - Significant rock samples with copper > 10%.
EMX owns a 100% interest in the Treuil property, and both EMX and Newmont jointly fund regional exploration on an EMX 35% to Newmont 65% basis. Newmont retains a one time right to select the property for a Joint Venture to acquire a minimum 65% interest, subject to the terms of the Regional Alliance with EMX.
Comments on Sampling, Assaying, and QA/QC. EMX’s geochemical samples were collected in accordance with accepted industry standards and procedures. The samples were submitted to the ALS Chemex laboratories in Reno, Nevada (ISO 9001:2000 accredited) and Vancouver, Canada (ISO 17025 accredited), or ACME Labs (ISO 9001:2000 accredited) in Vancouver for analysis. Gold was analyzed by fire assay with an AAS finish, and multi-element analyses were determined by ICP MS/AAS-AES techniques. Over limit gold assays (> 10 g/t) were re-analyzed by fire assay with a gravimetric finish. Over limit silver (> 100 g/t) and copper (> 1%) were re-analyzed by ICP AAS-AES finish. EMX conducts routine QA/QC analysis on all assay results. This includes the systematic utilization of certified reference materials, blanks, field duplicates, and umpire laboratory check assays.
The Company’s Exploration Manager, Haiti, Keith A. Laskowski, MSc. is a Qualified Person for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators, and has reviewed and verified the technical information contained in this news release.
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.
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 nor the Investment Industry Regulatory Organization of Canada accepts 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.