Chart usGOLD   Chart usSILVER  
 
Food for thought
Numbers are like people - torture them enough and they will tell you anything.
Anonymous  
Search for :
LATEST NEWS  :
MINING STOCKS  :
Subscribe
Write Us
Add to Google
Search on Ebay :
PRECIOUS METALS (US $)
Gold 1216.000.90
Silver 17.81-0.01
Platinum 1333.251.50
Palladium 810.002.25
WORLD MARKETS
DOWJONES 1728013
NASDAQ 4580-14
NIKKEI 16321254
ASX 543718
CAC 40 4461-3
DAX 97991
HUI 208-4
XAU 89-2
CURRENCIES (€)
AUS $ 1.4369
CAN $ 1.4062
US $ 1.2829
GBP (£) 0.7873
Sw Fr 1.2068
YEN 139.8300
CURRENCIES ($)
AUS $ 1.1203
CAN $ 1.0945
Euro 0.7795
GBP (£) 0.6141
Sw Fr 0.9400
YEN 108.9100
RATIOS & INDEXES
Gold / Silver68.28
Gold / Oil13.15
Dowjones / Gold14.21
COMMODITIES
Copper 3.090.00
WTI Oil 92.45-0.62
Nat. Gas 3.84-0.07
Market Indices
Metal Prices
RSS
Precious Metals
Graph Generator
Statistics by Country
Statistics by Metals
Advertise on 24hGold
Projects on Google Earth
Eurasian Minerals Announces Acquisition and Option Agreement to Sell the Neavesville, New Zealand Gold-Silver Property
Published : November 19, 2012
( 0 vote, 0/5 ) Print article
     
Tweet

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 19, 2012) - Eurasian Minerals Inc. (the "Company" or "EMX") (News - Market indicators)(NYSE Amex:EMXX) is pleased to announce the acquisition of the Neavesville gold-silver property (the "Property") located in the Hauraki goldfield of New Zealand's North Island. The Company is also pleased to announce the execution of a definitive agreement with Glass Earth Gold Limited (TSX VENTURE:GEL)(NZAX:GEL) ("GEL") giving GEL an option to acquire the wholly-owned EMX subsidiary that controls the Property. The agreement provides for staged payments and work obligations from GEL, as well as immediate reimbursement of EMX's exploration costs.

EMX acquired the Neavesville exploration licenses by staking, and with minimal cost. The sale of a property covering a historic gold-silver resource reported under JORC standards in a key mining district serves as another example of the Company's execution of the prospect generation model. The agreement with Glass Earth Gold is structured with a) in-ground spending requirements to further develop the asset's value, b) a pre-production revenue stream denominated in terms of gold ounces, and c) a revenue stream based on production, all to the benefit of EMX.

The Neavesville Property consists of two exploration permits totaling over 30 square kilometers that cover two main centers of epithermal gold-silver mineralization (Neavesville and Chelmsford). One of the mineralized centers, named Trig Bluffs, has a historic near-surface inferred resource of 3.2 million tonnes averaging 2.7 g/t gold and 8.9 g/t silver, and containing 289,000 ounces of gold and 944,000 ounces of silver (R. Brathwaite, IGNS report, 1999; 2001). In addition, a separate higher-grade historic inferred mineral resource of approximately 0.47 million tonnes at 7.1 g/t gold and 20.7 g/t silver, and containing 107,000 ounces of gold and 312,000 ounces of silver, was reported for mineralization at depth beneath Trig Bluffs. 

Overview of Commercial Terms. The agreement with GEL provides for staged payments and obligations as summarized below:

  • Immediate reimbursement of EMX's exploration costs (C$85,567);
  • Payment of 850 troy ounces of gold* prior to the earlier of acquisition of surface access or December 31, 2013;
  • A total of 5,000 meters of drilling;
  • The filing of a Technical Report with updated NI 43-101/JORC resource estimates before the earlier of (a) 24 months after the gold payment above or (b) December 31, 2015, at which time GEL can exercise the option;
  • Additional payments ("Additional Payments") prior to exercise of the purchase option at the rate of 75 troy ounces of gold* per annum and, after exercise of the purchase option, at the rate of 100 troy ounces of gold* per annum, which payments may be credited against the Deferred Consideration as set forth below;
  • Agreement to pay amounts ("Deferred Consideration") equivalent to 2% of net smelter returns from production from the exploration licenses; in any given year, Additional Payments made prior to production may be credited against up to 80% of the Deferred Consideration payable in that year;
  • Beginning with a decision to construct a mine based on a NI 43-101 / JORC feasibility level Technical Report that supports a positive production decision, payment of 0.01 troy ounce of gold for each of the first 500,000 ounces of contained gold in proven and probable (P&P) reserves*. For any contained ounces of gold in P&P reserves that exceed 500,000 ounces over the life of the project, the gold payment to EMX will be reduced to 0.005 troy ounces of gold per contained ounce.

* Gold payments may also be made in equivalent US dollars at the then spot price of gold or in equivalent Glass Earth fully paid ordinary shares - the mode of payment to be at Glass Earth's election. Payment using Glass Earth shares would be subject to TSX Venture approval.

Neavesville Property Background. Neavesville occurs in the Hauraki goldfield of New Zealand's North Island. The Hauraki goldfield hosts several gold-silver and copper-gold-molybdenum deposits in a 200 by 40 kilometer, north-south trending metallogenic belt. The Property hosts a variety of gold-silver mineralization styles that include replacement bodies in black shales and breccias, as well as higher-grade, structurally controlled quartz veins that have 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 Property consists of the Pakirarahi No. 1 and No. 2 exploration permits, which cover the historic underground and shallow open cut workings of the Neavesville "gold-silver field". These mines produced intermittently from 1875 to 1940. Neavesville's history of gold-silver mining attracted a number of exploration companies that were active from the 1970s through 2007, including Amoco (Cyprus), CRA, Homestake, City Resources, Normandy, and Newmont. Work conducted by previous operators includes 63 Diamond holes totaling over 8,900 meters of drilling, more than 1,400 rock samples, soil sampling grids, and numerous campaigns of geophysical surveys (i.e., magnetics, gravity, EM, etc.). 

The largest of the gold systems defined by the historic drilling and surface geochemistry is centered on Trig Bluffs, and measures approximately 2.5 by 1.5 kilometers. Epithermal 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. Further, the historic exploration datasets, as augmented by recent EMX geophysical surveys, have identified additional targets at the Chelmsford and Oneura prospects.

Historic inferred mineral resource estimates for Trig Bluffs were reported according to JORC standards in 1999 (and amended in 2001) by the Institute of Geological and Nuclear Sciences ("IGNS"), a government research institute (R. Brathwaite, IGNS report, 1999; 2001). A near-surface, historic resource estimate for the "upper zone" mineralization was based upon cross-section polygons at 50-meter spacing and a cutoff grade of 0.7 g/t gold. This 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. In addition, a historic inferred mineral resource for deeper, potentially underground mineable 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). This historic resource was reported as 0.47 million tonnes averaging 7.1 g/t gold and 20.7 g/t silver for mineralization occurring at depth beneath Trig Bluffs (R. Brathwaite, IGNS report, 1999; 2001). 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.

Comments on Sampling, Assaying, and QA/QC. EMX conducted reconnaissance level due diligence geologic mapping and rock sampling at Neavesville. Over 20% of EMX's rock samples (total of 35 samples) assayed greater than 0.2 g/t gold, including 4.12 g/t, 2.74 g/t, and 1.89 g/t gold. One rock sample assayed 13.8 g/t silver. 

EMX's exploration samples were collected in accordance with accepted industry procedures and best practice standards. The samples were submitted to SGS Labs (ISO 9001:2000 accredited) in Waihi, New Zealand for analysis. Gold was analyzed by fire assay with an AAS finish, and multi-element analyses were determined with aqua regia digestion and ICP/MS techniques. Routine QA/QC analysis is conducted on assay results, including the systematic utilization of certified reference materials, blanks and field duplicates.

About EMX. Eurasian is a global gold and copper exploration company utilizing a partnership business model to explore the world's most promising and underexplored mineral belts. Eurasian generates wealth via grassroots prospect generation, strategic acquisition and royalty growth.

David Royle, B.Sc. (Hons), FAusIMM, a Qualified Person as defined by National Instrument 43-101 and consultant to the Company, has verified and approved disclosure of the technical information contained in this news release.

Forward-Looking Statement

This news release may contain "forward looking statements" that reflect the Company's current expectations and projections about its future results. When used in this news release, words such as "estimate", "intend", "expect", "anticipate", "will" and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company's future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause Eurasian's actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to: unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, expectations of project funding by joint venture partners, increased regulatory compliance costs and other factors.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company's MD&A for the nine-month period ended September 30, 2012 (the "MD&A") and most recently filed Annual Information Form for the nine-month period ended December 31, 2011 (the "AIF"), actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedar.com and on the SEC's EDGAR website at www.sec.gov.

Cautionary Note to Investors Concerning Estimates of Indicated and Inferred Resources

This news release may use the terms "inferred" and "indicated" resources. Certain mineral resource numbers contained in this news release have been prepared in accordance with the JORC Code. While the terms "indicated mineral resource" and "inferred mineral resource" are required pursuant to the JORC Code, the SEC does not recognize such terms. JORC standards differ significantly from the requirements of the SEC, and mineral resource information prepared in accordance with the JORC Code is not comparable to similar information regarding mineral reserves disclosed in accordance with the requirements of the SEC. Investors are cautioned that "inferred resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or prefeasibility studies. Investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally mineable. Investors are further cautioned not to assume that any part or all of an indicated mineral resource will be converted into reserves.

To view the map accompanying this release please click on the following link: http://media3.marketwire.com/docs/1119emx.jpg

The NYSE MKT, TSX Venture Exchange and the Investment Industry Regulatory Organization of Canada do not accept responsibility for the adequacy or accuracy of this release.

Eurasian Minerals Inc.
David M. Cole
President and Chief Executive Officer
(303) 979-6666
Dave@EurasianMinerals.com
or
Eurasian Minerals Inc.
Valerie Barlow
Corporate Secretary
(604) 688-6390
(604) 688-1157 (FAX)
Valerie@EurasianMinerals.com
www.EurasianMinerals.com
Data and Statistics for these countries : Canada | Cyprus | New Zealand | All
Gold and Silver Prices for these countries : Canada | Cyprus | New Zealand | All
Tweet

Eurasian Minerals Inc.

EXPLORATION STAGE
CODE : EMX.V
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Email Alert Add to Watchlist Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy
Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Corporate Presentations of Eurasian Minerals Inc.
6/25/2009Eurasian Minerals: The Early Bird Once Again Gets the Worm
In the News and Medias of Eurasian Minerals Inc.
8/4/2010Eurasian Minerals Announces the Promotion of Dr. Eric Jensen...
Annual reports of Eurasian Minerals Inc.
Announces Filing of Annual Report on Form 40-F
2010 Annual Report
2009 Annual Report
2008 Annual Report
2007 Annual Report
Financings of Eurasian Minerals Inc.
3/22/2011Completes Final Tranche of CAD $17.875 Million Private Place...
3/15/2011Completes $3 Million Tranche of CAD $17.875 Million Private ...
3/3/2011Completes First $5 Million Tranche of CAD $17.875 Million Pr...
2/22/2011Increases Private Placement to CAD $16.25 Million
11/15/2010Completes Final Tranche of $17.5 Million Private Placement
11/9/2010First tranche C$17.5 million private placement by the sale o...
10/4/2010Proposes to Carry Out $17.5 Million Private Placement
6/11/2010Completes Final $0.88 Million Tranche of $5.28 Million Priva...
6/8/2010Completes First $4.4 Million Tranche of $5.28 Million Priva...
5/19/2010Proposes $5.28 Million Private Placement with Newmont & IFC
Option Grants of Eurasian Minerals Inc.
3/22/2011Grant of 150,000 options
9/6/2010Appointment of Mr. Paul H. Zink, Grant of Bonus Shares and G...
Nominations of Eurasian Minerals Inc.
2/27/2014Advance Notice Policy for Election of Directors
9/28/2012Announces New Management Appointments
3/22/2011Announces Appointment of Mr. Brian K. Levet to the Board of ...
12/20/2010GRANT OF 460 000 BONUS SHARES TO AN OFFICER AND 3 MANAGERS
9/3/2010Announces Appointment of Mr. Paul H. Zink as President of Eu...
Financials of Eurasian Minerals Inc.
8/15/2013Announces Second Quarter 2013 Results
5/16/2013Announces First Quarter 2013 Results
Project news of Eurasian Minerals Inc.
2/19/2014(Koonenberry)Completes Royalty Property Consolidation of the Koonenberry ...
2/4/2014Announces Royalty Interests on Timok Joint Venture Copper-Go...
1/27/2014(Akarca)Drills 4.0 m of Oxide Averaging 52.87 g/t Gold and 530.43 g/...
1/7/2014Adds Royalty Partnership in Turkey for the Alankoy Copper-Go...
6/20/2013(Akarca)Announces Option Agreement to Sell the Akarca Gold-Silver Pr...
10/30/2012(Akarca)Signs Agreement to Regain 100% Control of the Akarca Gold-Si...
8/20/2012Completes Merger with Bullion Monarch - Eurasian adds Bullio...
7/9/2012Provides Update on Exploration Programs in Sweden
4/23/2012Provides an Update on Haiti Exploration Programs
4/19/2012Initiates New Program and Stakes Moran Dome Gold Project in ...
4/4/2012(Sisorta)Announces Agreement to Sell the Sisorta JV Gold Property in ...
1/23/2012and Antofagasta Sign the Second Designated Project Earn-In A...
9/28/2011and Vale Exploration Canada Advance the Copper Basin Porphyr...
2/17/2011(Koonenberry)Consolidates Land Position of Over 2,200 Square Kilometers o...
2/18/2011(Kiruna South)and Antofagasta Minerals S.A. Sign Joint Venture and Regiona...
1/18/2011(Akarca)Completes 2010 Exploration Program at the Akarca JV Project,...
12/21/2010(Akarca)Drills 50.4 Meters of 3.39 g/t Oxide Gold Mineralization at ...
12/1/2010(Akarca)Drills 30.8 Meters of 3.42 g/t Gold Oxide Mineralization at ...
10/29/2010(Akarca)Drills 71.9 meters of 1.13 g/t Gold-Equivalent Oxide Mineral...
9/30/2010(Grand Bois)Reports Drill Results Including 42.6 meters Averaging 2.65 g...
7/20/2010(Vert De Gris)Outlines Significant Copper-in-Soil Anomaly at the Vert De G...
3/8/2010(Grand Bois)Reports Additional Encouraging Drill Hole Results from Grand...
12/3/2009(Grand Bois)Eurasian Drills Intercept of 28.4 Meters Averaging 20.45 g/t...
8/27/2009(Akarca)Update for Akarca, Elmali and Sisorta JV Properties in Turke...
8/25/2009(La Mine And Treuil)Treuil and La Mine Licenses Accepted for Designated Project ...
6/17/2009(Sisorta)Announces Initial NI 43-101 Resource Estimate for the Sisort...
4/22/2009(La Mine And Treuil)Discovers Two New High-Grade Copper-Silver-Gold Prospects at...
2/17/2009(Elmali)Drills 6.1 Meters Averaging 6.0 g/t Gold at Elmali, Turkey
1/6/2009(Akarca)Signs Agreement for the Akarca, Elmali and Samli Projects in...
11/24/2008(Sisorta)EMX Drill Results Update for Sisorta JV Property in Turkey -...
10/8/2008(La Mine And Treuil) Discovers High Grade Copper-Silver at the Champagne Prospec...
Corporate news of Eurasian Minerals Inc.
11/5/2013Provides an Update on IGC's Malmyzh Porphyry Copper-Gold Dis...
10/30/2013Options Three Porphyry Copper Projects to Savant Exploration...
9/4/2013Options Three Arizona Porphyry Copper Projects to Desert Sta...
8/22/2013Reports Oxide Drill Results of 7.0 Meters Averaging 10.12 g/...
8/7/2013Provides an Update on the Programs in Haiti
8/7/2013Sells Geothermal Energy Assets in Slovakia and Peru
7/23/2013Reports Drill Results of 13.3 Meters Averaging 3.54% Lead, 4...
7/23/2013Reports Drill Results of 13.3 Meters Averaging 3.54% Lead, 4...
6/27/2013Drills Over 900 Vertical Meters of Porphyry Copper-Molybdenu...
6/27/2013Drills Over 900 Vertical Meters of Porphyry Copper-Molybdenu...
6/10/2013Announces Early Warning Report Filing Regarding Its Sharehol...
4/25/2013Announces Antofagasta's Selection of the Iekelvare Designate...
3/1/2013(Akarca)Drills 101 Meters of Oxide Averaging 1.25 g/t Gold and 7.95 ...
3/1/2013Invites You to Attend the Prospectors & Developers Associati...
2/27/2013Announces Option Agreement to Sell the Trab-23 Project, Nort...
1/18/2013(Akarca)Drills Highest Grade Intercept to Date of 2.15 Meters Averag...
1/18/2013Drills the Highest Grade Intercept to Date of 2.15 Meters Av...
12/12/2012Jay Taylor Interviews Eurasian Minerals President & CEO, Dav...
11/19/2012Announces Acquisition and Option Agreement to Sell the Neave...
11/13/2012Invites You to Attend the 2012 San Francisco Hard Assets Con...
10/8/2012Reports Drill Results of 18.0 Meters Averaging 13.83% Lead, ...
9/6/2012Acquires Interest in an Emerging District-Scale Porphyry Cop...
8/21/2012Receives Final Approval Of Merger From The TSX Venture Excha...
7/19/2012(Akarca)Drills 26.1 Meters Averaging 4.47 g/t Gold and 16.39 g/t Sil...
6/25/2012Jay Taylor Interviews Eurasian Minerals President & CEO, Dav...
5/29/2012Announces Management Promotions and Additions
5/23/2012You Are Invited
4/11/2012Jay Taylor Interviews Eurasian Minerals President & CEO, Dav...
2/9/2012ASHBURTON TO BE GRANTED OPTION BY EURASIAN MINERALS
2/8/2012and Bullion Monarch Mining Enter into Merger Agreement
1/30/2012EMX Reports Drill Results of 14.3 Meters Averaging 18.15 % L...
1/25/2012Lists on the NYSE Amex under the Symbol "EMXX"
11/24/2011Invites You to Attend the San Francisco Hard Assets Conferen...
10/26/2011Added to Standard & Poor's S&P/TSX Venture Select Index
10/6/2011(Koonenberry)Identifies Bedrock Sources of Gold Mineralization and Adds t...
9/1/2011(Akarca)Drills Sarikaya Tepe Discovery Hole With an Oxide Intercept ...
8/23/2011(Akarca)Drill Results Confirm Recent Discovery With Oxide Intercept ...
8/11/2011EMX Reports Drill Results of 11.1 Meters Averaging 7.82% Lea...
6/20/2011Drills 15.4 Meters of 1.96 g/t Gold With 15.95 g/t Silver an...
4/13/2011Identifies Additional Drill Defined Zones Including 31.5 Met...
4/7/2011and Vale Exploration Canada Sign Regional Acquisition Agreem...
1/18/2011Regional Strategic Alliance Lands in Haiti Selected for Desi...
10/1/2010Responds to Bullion Monarch
8/13/2010Completes Acquisition of Swedish Subsidiary from Freeport-Mc...
8/5/2010to Acquire Swedish Royalties and Properties - Commences Expl...
8/3/2010 Promotion of Dr. Eric Jensen, a Property Acquisition, and P...
4/1/2010Drills 9 m of 3.4% Zn, 2.9% Pb & 31.3 g/t Ag at Balya Royalt...
3/16/2010Closes US$5 Million Placement with IFC
2/1/2010Announces Bronco Creek Exploration Acquisition Completed
1/25/2010Continues Relief Efforts in Haiti and Announces Grand Bois P...
12/14/2009Gold Zones Expanded at the Gezart License, Kyrgyz Republic
10/19/2009Agreement to Acquire Bronco Creek Exploration Inc.
10/1/2009Corporate Update and Addition of New Business Unit
5/25/2009 Announces Addition of Dr. M. Stephen Enders to the Board of...
1/26/2009Acquires Grand Bois Gold Deposit Property, Haiti
12/17/2008Acquires 27 Exploration Licenses in Haiti and the Historic M...
11/20/2008EMX Awarded Caraci-Birtin Exploration License in the Golden ...
9/19/2008CORPORATE UPDATE
Comment this article
You must be logged in to comment an article8000 characters max.
 
Sign in
User : Password : Login
Sign In Forgot password?
 
Latest comment posted for this article
Be the first to comment
Add your comment
TSX-V (EMX.V)Other OTC (ESMNF)
0.750+7.14%2.48+0.81%
TSX-V
CA$ 0.750
09/19 15:56 0.050
7.14%
Prev close Open
0.700 0.720
Low High
0.700 0.750
Year l/h YTD var.
0.700 -  1.27 -39.02%
52 week l/h 52 week var.
0.700 -  1.30 -40.00%
Volume 1 month var.
127,000 -10.71%
24hGold TrendPower© : -21
Produces
Develops
Explores for Copper - Gold - Lead - Silver - Zinc
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
You must be logged in to use the porfolio and watchlists (free)
TOP NEWSRELEASES
Annual variation
DateVariationHighLow
2014-21.88%1.330.92
2013-52.48%2.150.81
2012-6.05%2.751.66
2011-34.05%3.881.66
201057.49%3.481.67
 
5 years chart
 
3 months chart
 
3 months volume chart