Red Top is a porphyry copper project in the Superior District of central Arizona. EMX has recognized an extensive zone of intense alteration, ferricretes, and gossan developed eight kilometers north-northwest of the Resolution deposit.
Porphyry alteration is exposed across a broad area, with locally intense alteration associated with anomalous base metal and molybdenum mineralization. Nearby, post-mineral units are tilted ~30-45º east, indicating an underlying porphyry system is also likely tilted, with the mineralized portion of the system concealed beneath less-altered rocks on the surface. The target is a plunging porphyry copper system concealed beneath weakly altered wall rock on EMX’s property.
The project has been optioned to Zaya Resources, Ltd. (“Zaya”), a wholly-owned subsidiary of Zacapa Resources Ltd. (“Zacapa”). The Agreement provides EMX with a 9.9% equity interest in Zacapa, a 2.50% production royalty for Red Top with the option to repurchase 0.5%, a 2.5% production royalty for Miller Mountain, and for each Project advance royalty and milestone payments.
Note: The nearby mines and deposits in the region provide context for EMX’s Project, which occurs in a similar geologic setting, but this is not necessarily indicative that the project hosts similar mineralization.