The Trab-23 property is located in Turkey’s Eastern Pontides metallogenic belt, and hosts both porphyry gold (copper-molybdenum) mineralization and epithermal quartz-barite-gold veins. The Trab-23 property has entered into a purchase agreement for the sale of the EMX subsidiary that own the Trab-23 exploration project in Turkey to Kar Mineral Madencilik İnşaat Turizm Sanayi ve Ticaret A.Ş. (“Kar”), a privately owned Turkish Company. See Company news release dated September 25, 2019.
Historic work at Trab-23 was conducted by Western Mining Corporation, BHP, and Odyssey Resources starting in the 1990s. This work outlined a northwest trending, 2.5 kilometer long zone of variably altered intrusive and volcanic rocks coincident with anomalous gold and copper geochemistry. Reconnaissance drilling completed in 2002 by an Odyssey Resources/BHP joint venture totaled 264 meters in two core holes. Both holes intersected gold, copper, and molybdenum mineralization associated with quartz stockwork veining. EMX’s geological reconnaissance and verification sampling confirmed the grades and styles of porphyry mineralization originally identified by the historic exploration programs.