The Hardshell Skarn Project is located approximately 75 kilometers southeast of Tucson, Arizona within the Patagonia Mountains and adjacent to South32s’ (formerly AZ Minerals) advancing Hermosa project. EMX has entered into an Exploration and Option Agreement through its wholly owned subsidiary Bronco Creek Exploration, Inc. for the Hardshell Skarn project with Arizona Minerals Inc., a subsidiary of Arizona Mining Inc. (TSX: AZ). The Project is comprised of 16 unpatented federal lode mining claims totaling approximately 279 acres and lies between the Sunnyside porphyry copper system (Regal Resources Inc.) to the west, the Hermosa project (AZ Minerals) to the east, and the historic Trench mine to the north. On August 11, 2018 South32 acquired the parent company Arizona Mining (Arizona Minerals) which includes the Hermosa and Hardshell Projects.
EMX is targeting base and precious metals mineralization hosted in skarn and replacement bodies within a series of Paleozoic limestones. These carbonate rocks, as well as skarn mineralization, were intersected by Asarco in deep historic drilling (depths from 1,256-1,491 m) adjacent to the Sunnyside porphyry center and to the northwest of the Project boundary. From west to east, the target rocks step to shallower levels across the EMX land position by a series of north trending faults and are less than 100 meters below the surface immediately east of the Project. It is anticipated that South32 will incorporate the Hardshell Skarn property into their ongoing Hermosa project exploration programs.
The adjacent properties provide context for the Hardshell Skarn project, which occurs in a similar geologic setting. However, this is not necessarily indicative that the Project hosts similar mineralization.