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Asia Pacific Region
Asia Pacific Region
Eurasian Minerals has recently added a new business unit covering the Asia-Pacific region. This unit is headed by Mr. David Royle (). EMX's Asia-Pacific business unit initiative is designed to take advantage of a number of exploration and acquisition opportunities in this highly prospective region of the world. Mr. Royle brings extensive industry experience and exploration success to this new EMX program. He has over 34 years of experience in precious and base metals exploration for major companies including AMAX, Newmont, Newcrest and MIM. Recent positions include Managing Director of Kentor Gold Ltd and Vice President of Exploration and Business Development for East Asia Minerals. He has a proven track record of mineral deposit discovery in Australia, South America and the southwest Pacific. Mr. Royle is a Fellow and Chartered Professional of the Australasian Institute of Mining and Metallurgy, and a Fellow of the Society of Economic Geologists. He holds a B.Sc. (Hons), in Geology from the University of New England, New South Wales, Australia. Mr. Royle's extensive network of industry and regional contacts will significantly enhance EMX's ability to identify high quality, early stage business development opportunities.
The Asian-Pacific region provides Eurasian Minerals with a unique opportunity to discover a world-class gold deposit in a very prospective, yet under-explored region. The Company is aggressively pursuing new business opportunities and property acquisitions to add to its current global portfolio of exploration projects, thus highlighting EMX's growing success in execution of the prospect generation business model
Australia
Eurasian Minerals has consolidated over 2360 square kilometers of mineral rights in the highly prospective and under-explored Koonenberry gold belt in New South Wales, Australia. The Koonenberry project consists of thirteen contiguous exploration licenses acquired either directly by EMX staking, or through agreements with other parties. Koonenberry's potential to host a district scale discovery is underscored by widespread eluvial gold occurrences and coherent stream and soil gold anomalies spacially associated with a recently recognized regional-scale anticline. Numerous gold occurrences, and other prospective targets identified in a recently completed high-resolution aeromagnetic survey, are covered by EMX's dominant land position along 100 kilometers of the Koonenberry belt's strike length. Reconnaissance rock-chip samples from mineralized bedrock returned 8.71 g/t gold from veins than contain visible native gold, 4.07 g/t gold from quartz-sulfide veining associated with a mafic intrusion, 1.13 g/t gold from a stockwork zone of quartz-sulfide veining exposed along the margin of a mafic intrusion, and 0.56 g/t gold from a quartz vein reef up to five meters wide. The Company is continuing reconnaissance scale exploration programs across the property position. The initial results are strongly encouraging, and demonstrate the presence of gold in bedrock exposures within the project area. Future follow up work on prioritized target areas, will include detailed soil sampling, mapping, trenching and if warranted drilling.
Project Background The Kooneneberry Fault or Belt is a major crustal scale lineament that forms the leading edge of the Dalamerian Orogen (500-515 Ma) in the north-western New South Wales area. The Cambro-Ordovician Delamerian Orogeny resulted in west-verging tight folding and thrusting along the Koonenberry Belt, with a sinistral strike-slip component, sub-vertical cleavage formation and low-grade regional metamorphism. A sinistral transpression stress regime that prevailed late in the Dalamerian event led to the development of a series of north-west striking faults splays that occur locally on the eastern margin of the NNW striking Koonenberry Fault Zone. The splay faults form several local half-grabens filled with tubidite sediments and minor limestone which are host rocks for gold mineralization.
Typical landscape of the Koonenberry project showing quartz vein material strewn across large areas.
Exploration Programs EMX's exploration objective at Koonenberry is to identify the bedrock source of gold coarse eluvial gold which occurs in a corridor measuring 25 by 10 kilometres in the south-central portion of the property. The northwest trend of gold occurrences is broadly parallel to the regional structural fabric, and is associated with soil, BLEG and mesh stream gold anomalies, as well as pervasive alteration and abundant quartz veining.
The majority of the prospective terrain at Koonenberry remains untested, with about 50% of the project area having undergone first pass, reconnaissance level evaluation by EMX to date. This preliminary work has identified two significant coherent populations of BLEG gold anomalies measuring approximately 10 x 5 kilometers in the north-central portion of the property.
The Company has been conducting a systematic, project-wide exploration program of regolith mapping from satellite imagery, geological mapping, stream and bedrock geochemical sampling, and airborne geophysical surveys. The results from these programs are currently being integrated and analyzed to select priority follow-up targets for trenching and scout drill testing.
Land Package EMX's consolidation of a commanding land position along the Koonenberry gold belt resulted from a patient program of staking exploration licenses and negotiating agreements with four key license holders over a period of more than two years (also see August 3, 2010 Company news release). The final agreement to complete the land package was with Rockwell Resources Pty Ltd. ("Rockwell"), a privately owned Australian exploration company, to earn a 100% interest in the Exploration License 6479 (see Company News release dated February 17, 2011).
The Australia-East Asian region provides Eurasian Minerals with a unique opportunity to discover a world-class gold deposit in a very prospective, yet under-explored region. The Company is aggressively pursuing new business opportunities and property acquisitions to add to its current global portfolio of exploration projects, thus highlighting EMX's growing success in execution of the prospect generation business model.
A view of an outcropping vein at Koonenberry.
Regional map of the Koonenberry Gold Belt