EMX's Neavesville gold-silver property is located in the Hauraki goldfield of New Zealand's North Island. The property covers historic underground and shallow open cut workings of the Neavesville "gold-silver field". Neavesville's epithermal gold-silver mineralization includes similar geologic features to other deposits of the Hauraki goldfield, including Newmont's Martha Hill gold-silver mine located 25 kilometers to the southeast.
The largest of the systems defined by historic drilling is centered on Trig Bluffs, and measures approximately 2.5 by 1.5 kilometers. Gold-silver mineralization is developed in a large multiphase breccia complex that cuts faulted volcanic and minor sedimentary sequences, as well as along steeply dipping quartz-adularia veins, and as stockworks in breccias and dacite porphyry.
Trig Bluffs has historic near-surface and deeper higher-grade inferred resources reported to JORC standards (R. Brathwaite, IGNS report, 1999; 2001). The near-surface inferred resource was reported as 3.2 million tonnes averaging 2.7 g/t gold and 8.9 g/t silver, containing 289,000 ounces of gold and 944,000 ounces of silver.¹ The inferred mineral resource for deeper, potentially underground mineable mineralization was reported as 0.47 million tonnes averaging 7.1 g/t gold and 20.7 g/t silver.²
As well as Trig Bluffs, EMX's geophysical surveys and reconnaissance geologic mapping and sampling confirmed additional targets for follow-up at the Chelmsford and Oneura prospects.
EMX acquired the Neavesville exploration licenses by staking and with minimal cost. EMX has entered into a definitive agreement with Land & Mineral Limited, a privately-held Australian company, giving L&M the right to acquire Hauraki Gold Ltd., the wholly-owned EMX subsidiary that controls the Neavesville gold-silver property located in the Hauraki goldfield of New Zealand's North Island. Hauraki has also entered into a Joint Venture Agreement and Access Agreement with the Pakirarahi 1B Trust, who control surface rights across a majority of the project area.
¹, ² The near-surface, historic resource estimate for the "upper zone" was based upon cross-section polygons at 50-meter spacing and a cutoff grade of 0.7 g/t gold. The historic inferred mineral resource for the deeper mineralization was also estimated with the polygonal method, assuming a maximum projection of 25 meters, a minimum width of one meter, and a cutoff grade of 10 gram-meters (i.e. the product of the gold grade and true width thickness of the drill hole intercept).
A Qualified Person has not performed sufficient work to classify the historic estimates as current mineral resources, and EMX is not treating the estimates as current mineral resources. The historic estimates should not be relied upon until they can be confirmed. However, the drill-delineated Trig Bluffs gold-silver mineralization described by the IGNS report is considered relevant.