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| December 03, 2009 Eurasian Reports Drill Intercept of 28.4 Meters Averaging 20.45 g/t Gold at Grand Bois Property, Haiti | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vancouver, British Columbia, December 3, 2009 (TSX Venture: EMX) -- Eurasian Minerals Inc. (the "Company" or "EMX") is pleased to announce initial drill results from the Grand Bois property in Haiti. These results include uncapped, oxide intercepts starting from surface of 28.4 meters averaging 20.45 g/t gold and 21.4 meters averaging 10.19 g/t gold. In addition, the drilling returned significant copper intercepts below the oxide gold zone, including 54.5 meters averaging 0.44 percent copper, with additional assays from underlying intervals still pending. The current drill program was designed to confirm historic drill results and a historic, non-NI 43-101 compliant gold resource, as well as test for additional zones of gold and copper mineralization. Grand Bois is a Designated Project with joint venture partner Newmont Ventures Limited ("Newmont" or "NEM"), a wholly owned subsidiary of Newmont Mining Corporation. Please see attached map for more information. Initial Grand Bois Drill Results. The seventeen hole Grand Bois diamond drill campaign has been completed, and assays received for 884.2 meters of the 2,231 total meters drilled. The program was designed to confirm previous drill results, test geochemical anomalies peripheral to the historic resource area, and assess the Rivage Ridge zone located approximately 750 meters southwest of the resource area. The initial drill results are summarized and discussed by target area below.
Grand Bois Property Overview. The Grand Bois property covers an area of 50 square kilometers of mineral rights in northern Haiti. Grand Bois is entirely surrounded by EMX exploration licenses. Newmont can earn 65% interest in the property by funding 100% of the initial USD$10 million expenditures on the project, or b) completing a positive feasibility study on the property within the first six years, whichever comes first. Newmont is responsible for exploration expenditures on the project as governed by a Designated Projects Joint Venture Agreement, until such time as it earns its interest. The Grand Bois gold deposit as currently defined is roughly circular in outline, with dimensions of 300 by 350 meters, and consists of a poorly consolidated tabular body of mineralized and oxidized volcanic rock. The mineralized zone is located on the top and flank of a hill (elevations range from 580-720 m), that would have a favorable stripping ratio for a potential open-pit operation. The property has undergone four historic drill campaigns totaling more than 7500 meters. The United Nations Development Program ("UNDP") produced a non-NI 43-101 compliant historical resource estimate, termed a "geological reserve", of 4.3 million tonnes averaging 2.24 g/t gold (Focsa, et al., 1986, Le Gisement d'or de Grand Bois/Limbe. Project HAI/84/016-02-P01 UNDP/BME). The UNDP historical "geological reserve" does not use the resource and reserve categories as defined in NI 43-101 and a Qualified Person has not performed sufficient work to classify the historical estimate as current mineral resources. EMX is not treating the estimate as current mineral resources, and it should not be relied upon until it can be confirmed by the Company. However, the drill-delineated Grand Bois gold mineralized deposit described by the UNDP report is considered relevant. Comments on Sampling, Assaying, and QA/QC. The 2009 EMX-NEM core drilling program averaged 89% recovery. The reported significant intervals averaged 70%, and ranged from 36% to 93% recovery. Holes GBDH-009 and GBDH-011 both averaged approximately 58% recovery for the reported high grade intervals. The reported intercepts are interpreted to be approximately true thickness, except for GBDH-009 and GBDH-011, where current understanding of possible high-angle structural control is unclear. The EMX-NEM drill samples were collected in accordance with accepted industry standards and procedures. The samples were submitted to the ACME Labs (ISO 9001:2000 accredited) in Santiago Chile for analysis. Gold was analyzed by fire assay with an AAS finish, and multi-element analyses were determined by ICP MS/AAS techniques. Over limit gold assays (> 10 g/t) were re-analyzed by fire assay with a gravimetric finish. Over limit silver (> 100 g/t) and copper (> 1%) were re-analyzed by ICP AAS finish. EMX conducts routine QA/QC analysis on all assay results, including the systematic utilization of certified reference materials, blanks and field duplicates. Mr. Michael P. Sheehan, 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. EMX is exploring and investing in a first class mineral property and royalty portfolio in some of the most prospective, but under-explored mineral belts of the world. For further information contact: David M. Cole President and Chief Executive Officer Phone: (303) 979-6666 Email: Website: www.eurasianminerals.com Kim C. Casswell Corporate Secretary Phone: (604) 688-6390 Email: 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.  Click to Enlarge | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||