 |
|
|
|
|
 The Akarca gold-silver property (pronounced "ak-ar-jaa") is located in northwestern Turkey, and was discovered by Company geologists in 2006 by following-up regional stream sediment anomalies. The property is comprised of 135 square kilometers of EMX exploration licenses.
The geology at Akarca is dominated by Neogene-aged basin fill sedimentary rocks that unconformably overlie Paleozoic-aged schists and re-crystallized limestones. There are multiple zones of gold-silver vein mineralization that trend both northeast-southwest and northwest-southeast. The zones consist of parallel to sub-parallel quartz veins and veinlets.
EMX mapped and sampled six primary low sulfidation vein zones within an area of anomalous gold and silver geochemistry. The veins surface expression range from 0.5 to 15 meters in thickness with strike lengths of 100 to 400 meters. The veins display the development of combinations of banding, lattice, colloform, crustiform as well as massive textures characteristic of the upper levels of gold-silver vein deposits. Akarca has well developed soil and vegetative cover, and as a result a number of areas with dense quartz vein float represent additional vein zone targets.
A series of gold-in-soil anomalies greater than 0.1 ppm outline a 1.2 by 1 kilometer area from EMX's 495 sample soil grid survey. Within this area, EMX's 108 rock chip samples returned 23 samples assaying over 1 ppm gold (maximum of 25.7 ppm gold) and 14 samples over 20 ppm silver (maximum of 248 ppm silver). The three primary targets consist of:
 The Kucukhugla Tepe zone delineated by a 250 X 250 meter soil and rockchip sample gold anomaly. There are 13 soil samples within the zone that average 0.70 ppm Au, with high grade samples of 2.09, 2.05, and 1.45 ppm Au. The Kucukhugla vein has 150 m of currently known strike length, exposed thicknesses of 2 to 15 m, and 136 rock samples that average 1.82 g/t gold, with high-grade samples of 36.40 g/t, 25.7 g/t, 17.65, and 17.25 g/t gold rock sample silver assays average 22.28 g/t, with a maximum 410 g/t silver.
 The Hugla Tepe zone highlighted by a 300 X 275 m soil anomaly (18 samples, average 1.37 ppm Au, max 3.28 ppm Au, nine samples over 1 ppm). The Hugla vein has 400 m of strike length, and exposed thicknesses from 0.5 to 10 m. The 119 rock samples that average 0.57 g/t gold, with a maximum of 3.17 g/t. The rock sample silver assays at Hugla Tepe average 7.31 g/t, with a maximum of 85.1 g/t)
 The Fula Tepe zone delineated by a 400 X 250 m soil and rockchip anomaly. The 25 soil samples average 0.39 ppm Au, with a maximum 3.49 ppm Au. The Fula vein has 100 m of mapped strike length, and 7 rock chip samples with an average of 1.55 ppm Au, maximum of 4.46 ppm Au, and 3 additional samples over 1 ppm Au. The silver assays average 37.3 ppm, with a maximum 196 ppm Ag.
EMX conducted an IP (induced polarization) geophysical survey on 14 northwest-southeast lines over the gold-in-soil anomaly area in order to delineate additional vein targets beneath soil cover. There are several shallow IP anomalies to the north of Kucukhugla Tepe indicating possible sub-parallel veins under cover. The Hugla Tepe vein zone is clearly indicated by a shallow (0-50 meters) IP anomaly, with deeper parallel and sub-parallel anomalies indicating additional vein targets at depth.
EMX's 2007 drill program tested the vertical continuity of gold-silver mineralization on the Kucukhugla Tepe and Hugla Tepe vein zones, and consisted of five core holes totaling 615.5 meters. Two holes, AKC-1 and AKC-2, were drilled at Kucukhugla Tepe. AKC-1 intersected a broad zone of quartz veining, returning 63.7 meters averaging 1.54 g/t gold and 14.52 g/t silver. Higher grade vein subintervals include two meters at 13.8 g/t gold and 117.0 g/t silver, and one meter averaging 19.95 g/t gold and 241 g/t silver. AKC-2, located along strike 35 meters southeast of AKC-1, intersected significant mineralization of 12.8 meters averaging 1.32 g/t gold and 12.46 g/t silver and 11.1 meters averaging 0.79 g/t gold and 13.1 g/t silver. The Kucukhugla Tepe holes confirmed a significant zone of gold-silver mineralization at depth, as well as along strike, that remains open for extension.
At Hugla Tepe, three holes, AKC-3, 4 and 5 also delineated a broad zone of significant gold-silver mineralization. AKC-3 intersected 22.7 meters averaging 1.67 g/t gold and 18.63 g/t silver. AKC-4 was collared along the strike of the Hugla Tepe vein approximately 350 meters east-northeast of AKC-3, and intersected 34 meters averaging 0.54 g/t gold and 7.7 g/t silver, with two additional intercepts deeper in the hole. AKC-5 was collared between AKC-3 and AKC-4, and intersected 45.8 meters averaging 1.05 g/t gold and 18.61 g/t silver, as well as two additional intervals deeper in the hole. The Hugla Tepe holes delineate gold-silver mineralization along 350 meters of strike length that remains open to the northeast and southwest, as well as down dip.
Core from AKC-4 92.85 -- 93.10m banded crustiform-colliform quartz-adularia veining intersected at Akarca.
Core from AKC-5 147.45 -- 147.95m banded crustiform-colliform quartz-adularia + amethyst intersected at Akarca.
Core from AKC-1 38.3 -- 38.5m bladed quartz (after calcite?) veining intersected at Akarca (6.8 g/t Au, 27 g/t Ag).
EMX's 2007 exploration drill program at Akarca confirmed the vertical and lateral continuity of significant gold and silver mineralization in the Kucukhugla and Hugla Tepe vein zones. The drilling also demonstrated that the mineralization is persistently anomalous in gold and silver. Given the drill and surface rock sample assay results, the 1.2 by 1 kilometer area of anomalous gold-in-soil geochemistry, and geophysical targets beneath cover, Akarca represents a gold-silver vein system with substantial upside exploration potential for 2008.
|
|
