The Ophir Property is located in the northern portion of the Ophir mining district, approximately 15 kilometers southwest of Rio Tinto’s Bingham Canyon mine. The Ophir property has been sold to Kennecott Exploration Company, part of the Rio Tinto Group. The terms of the sale include a cash payment to EMX at closing, with the Company retaining a 2% NSR royalty on the Property (see Company news release dated October 17, 2016).
The Ophir district is characterized by silver-lead-zinc-copper replacement deposits and fissure veins hosted within carbonate sedimentary rocks and associated with monzonitic stocks and dikes. The Property contains several small-scale historic mines with dump material characterized by mineralization similar to other historic mines in the Ophir district. The district’s silver and base metals mineralization may be a distal expression of associated porphyry copper mineralization at depth.
EMX’s Ophir property was acquired as part of the Bullion Monarch acquisition in 2012.
Note: The nearby mines and deposits in the region provide geologic context for EMX’s Project, but this is not necessarily indicative that the project hosts similar mineralization.