Eurasian Minerals – Akarca and Balya projects, NW Turkey - April 2013
Neil Adshead visited Eurasian Minerals’ Akarca and Balya projects in NW Turkey on 24-25 April 2013. Akarca is a gold-silver low sulphidation epithermal prospect that was discovered by EMX in 2006. Six prospects have been identified and delineated through prospecting, soil sampling, trenching and geophysical surveys. Several rounds of drilling (85 holes; ~12,000 m) have generated economic thicknesses and grades, e.g., 36.4 m at 5.67 g/t gold and 53.3 g/t silver, but there has not been sufficient drilling into one prospect to estimate a maiden gold-silver resource. Centerra Gold funded the most recent drill programs, before withdrawing from Akarca after acquiring 100% of another gold property in Turkey. EMX is seeking a new partner to fund future work programs. Balya is one of EMX’s royalty properties in Turkey. EMX has an uncapped 4% NSR. The operator is a Turkish company. Balya is adjacent to an active underground mine in the same belt of silver-lead-zinc bearing rocks. The Turkish conglomerate operating the mine trucks their ore to a modern, recently expanded, 1,000 tpd concentrator facility on the edge of a nearby town. This is the obvious destination for mineralization mined on the ground where EMX has a 4% NSR. Balya has been a mining centre for centuries and was the first town in Anatolia to be electrified, during the waning years of the Ottoman Empire, on the back of the wealth generated by the silver-lead-zinc ore.
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