VANCOUVER, BRITISH COLUMBIA — (Marketwire) — 09/01/11 — Eurasian Minerals Inc. (the „Company“ or „EMX“) (TSX VENTURE: EMX) is pleased to announce drill results from the Akarca gold-silver project in northwestern Turkey. These results provide drill confirmation of the Sarikaya Tepe discovery with a near surface intercept of 14.2 meters averaging 4.61 g/t gold, and a deeper zone with an intercept of 67.9 meters averaging 1.35 g/t gold and 16.08 g/t silver. Sarikaya Tepe, along with the Percem and Arap Tepe prospects, is the third recent discovery the Company has now confirmed with drilling. These three prospects are outside of the Central Target area, which had been the focus of previous exploration programs. Further, there is additional upside exploration potential from a number of priority targets that have yet to be drill tested.
Akarca-s district scale exploration potential is characterized by multiple prospects and recent discoveries of gold-silver mineralization over a combined area of more than twelve square kilometers. Gold-silver mineralization is hosted within broad structural corridors, occurring as high grade veins and as lower grade, bulk tonnage zones. EMX is exploring the Akarca property in a joint venture with a wholly owned subsidiary of Centerra Gold Inc. Please see the attached map and for more information.
Sarikaya Tepe Prospect. Sarikaya Tepe, located west of the Central Target area, is a 2010 EMX discovery originally characterized as a broad 500 by 75 meter zone of surface exposed quartz veining and silicification coincident with a steep north-northwest topographic high. Surface channel sample results include 1.8 meters averaging 54.7 g/t gold and 28.0 g/t silver, and 11% of this year-s samples assayed greater than 1 g/t gold. An IP-resistivity survey conducted earlier in 2011 extended the projection of the zone a further 200 meters to the north, yielding a total strike length of 700 meters.
Three core holes at Sarikaya Tepe, totaling 421.4 meters, delineated approximately 200 meters of strike length at a drill spacing of 75-100 meters. In addition to the thick intercepts of gold-silver mineralization, there are also higher grade sub-intervals such as 11.4 meters averaging 4.90 g/t gold and 45.75 g/t silver and 5.8 meters averaging 10.00 g/t gold and 4.16 g/t silver. The deeper, un-oxidized Sarikaya Tepe intercepts are consistently enriched in both gold and silver, and as a result, the table of drill intercepts below also reports gold equivalent values.
Akarca Overview. The Akarca gold-silver deposit, located in Turkey-s western Anatolia region, is an EMX 2006 grassroots exploration discovery. In addition to the new Sarikaya Tepe results, this year-s nineteen hole, 2,600 meter core drilling campaign expanded and confirmed gold-silver zones within the Central Target area, as well as elsewhere on the property.
Akarca-s multiple gold-silver zones and exploration targets occur within a district-scale mineralized system, and have undergone only limited exploration to this point. Surface exploration work and drilling have delineated zones of high-grade, structurally focused mineralization within lower grade, bulk tonnage-type targets. New discoveries are being made across the property, and multiple mineralized zones are currently being expanded and advanced towards resource definition.
Akarca is covered along with the Elmali property by a JV agreement between EMX and Centerra Exploration B.V. („Centerra“), a wholly owned subsidiary of Centerra Gold Inc. Centerra can earn a 50% interest in Akarca and Elmali by completing US$5,000,000 in exploration expenditures over four years. Within 30 days of completing the earn-in requirements, Centerra will also be required to pay EMX US$1,000,000. Centerra may earn an additional 20% in the properties, bringing the total to 70%, by spending a further US$5,000,000 over two years. The JV agreement is currently in its third year.
Comments on Sampling, Assaying, and QA/QC. EMX-s drill and geochemical samples were collected in accordance with accepted industry standards. The samples were submitted to ALS Chemex laboratories in Izmir, Turkey for sample preparation and Vancouver, Canada (ISO 9001:2000 and 17025:2005 accredited) for analysis. Gold was analyzed by fire assay with an AAS finish, and silver underwent aqua regia digestion and analysis with MS/AES techniques. Over limit assays for gold (greater than 10 g/t Au) were conducted with fire assay and a gravimetric finish. As standard procedure, the Company conducts routine QA/QC analysis on all assay results, including the systematic utilization of certified reference materials, blanks, and field duplicates.
EMX is exploring and investing in a first class mineral property and royalty portfolio located in some of the most prospective, but under-explored mineral belts of the world.
Dr. Mesut Soylu, P.Geo., a Qualified Person as defined by National Instrument 43-101 and consultant to the Company, has reviewed and verified the technical information contained in this news release.
Forward-Looking Statement
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.
To view the map accompanying this release please click on the following link:
Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Contacts: Eurasian Minerals Inc. David M. Cole President and Chief Executive Officer (303) 979-6666
Eurasian Minerals Inc. Valerie Barlow Corporate Secretary (604) 688-6390 (604) 688-1157 (FAX)
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