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Eurasian Minerals Update Gumsberg Project in Sweden's Bergslagen Mining District


Eurasian has built a portfolio of exploration projects in Scandinavia, and has been compiling geologic information and generating drill targets on those properties.

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Eurasian Minerals Inc. is pleased to provide an update on exploration results from the Company’s spring and summer programs in Scandinavia.

Eurasian has built a portfolio of exploration projects in Scandinavia, and has been compiling geologic information and generating drill targets on those properties.


Reconnaissance drilling at the Gumsberg Volcanogenic Massive Sulfid project, located in the prolific Bergslagen district of Sweden, has yielded several shallow high grade intercepts of polymetallic mineralization along a > 2 kilometer trend of mineralization.

Gumsberg is located less than 30 kilometers from Boliden AB’s Garpenberg mine, which has similar styles of mineralization and is one of the major zinc, lead and silver producers in the region.

The historic Falun VMS deposit is also located nearby, as shown on the map below.

Gumsberg Project Update. The Gumsberg project comprises five contiguous exploration permits in the Bergslagen mining district of Sweden, one of Europe’s oldest mining districts.

Multiple historic mines within the Gumsberg project area were developed on VMS style mineralization, including the Osträsilvberg mine, one of Sweden’s key silver producers in medieval times.

Other historic mines within the project area were operated in the 1800’s and early 1900’s, targeting lead, zinc, and copper-rich VMS mineralization.

Limited exploration drilling at Gumsberg was conducted in the 1930’s, 1950’s and early 1970’s, when VMS deposit models were still poorly understood. Little to no exploration has been conducted in the past 40 years.

Eurasian’s work at Gumsberg has focused on using modern VMS deposit models to reinterpret the multiple mineralized trends on the property.

High priority, but shallow drill targets were generated through a combination of mapping, sampling, geophysical surveys and compilation of historic drill data from the area.

EMX’s 2016 reconnaissance diamond drilling targeted both exhalative-type lead-zinc-silver mineralization and replacement style zinc-lead mineralization developed in skarn and altered volcanic rocks.

Each of four holes drilled along the > 2 kilometer long Vallberget-Loberget trend of historic mines intersected significant intervals of mineralization.

Results include 2.8 meters of 17.9% Zn, 6.9% Pb, 0.5% Cu, and 68.9 g/t Ag in drill hole GB16-2 at a depth of 32 meters below surface, and 3.0 meters of 9.2% Zn, 3.0% Pb, and 12.8 g/t Ag in drill hole GB16-5 at a depth of 22 meters below surface.

Both intercepts are developed in exhalative style VMS mineralization, with true widths estimated to be 80-90% of the reported intervals.

Replacement style mineralization was intersected by drill hole GB16-1 with an interval of 5.7 meters of 6.5% Zn.

The drill results demonstrate that multiple horizons of exhalative VMS style mineralization are present in the stratigraphy and are interbedded with zones of replacement style mineralization developed in calc-silicate skarn and highly altered volcanic facies.

Also identified, but not yet tested at Vallberget-Loberget, are zones of copper-rich mineralization accompanied by pyrrhotite and intense chlorite alteration that are interpreted to represent “feeder” type structures to the exhalite and replacement styles of VMS mineralization.

Burfjord Project Update. At Eurasian’s Burfjord project near Alta, Norway, mapping and sampling programs have identified broad zones of Iron Oxide Copper Gold style mineralization that are characterized by vein arrays and stockwork zones of carbonate-magnetite-chalcopyrite-pyrite veins hosted by highly altered mafic volcanic rocks.

The mineralization is developed throughout the flanks of a prominent four kilometer by six kilometer doubly plunging anticlinal fold structure. Zones of copper and gold mineralization are enveloped within voluminous zones of sodic, calcic and potassic alteration types that are characteristic of IOCG systems. In some areas, specular hematite and mushketovite, a key index mineral for IOCG style mineralization, predominate and are intimately associated with copper-rich mineralization.

The Burfjord project area had been the site of historic mining activities in the 1800’s and early 1900’s, but with relatively high cutoff grades.

Like other opportunities in EMX’s Scandinavian portfolio, the district has not seen modern exploration. Eurasian is reinterpreting the local geology and applying current IOCG models to develop drill targets.

Adak Project Update. At Eurasian’s Adak Project in the Skellefteå district of Sweden, work has focused on compiling information from newly archived historic maps from mines within the property.

These mines were operated until early 1978, when a fire destroyed the mining facilities and operations were suspended. The Adak mines were focused on copper-rich VMS style mineralization, but portions of the deposits were also enriched in zinc and precious metals. Eurasian is applying current VMS deposit models to reinterpret the geology of the mining areas and to develop new exploration targets.

Current targets include the down-dip and lateral projections of bodies of high grade copper mineralization that was mined by the historic operations. Little deep exploration has been conducted in the area, and recently discovered maps of several historic mines are providing key information for further targeting.

Plans for Further Exploration. Eurasian will continue to advance its assets in Scandinavia in late 2016, and is in the process of permitting a fall exploration program at its Tynset project in Norway.

Work on other projects will include additional mapping and sampling in the fall of 2016 and additional geophysical surveys and drilling during the coming winter months. Further, in accordance with its partnership business model, EMX is engaged in advanced discussion with parties interested in acquiring the Scandinavian projects.

Comments on Sampling, Assaying, QA/QC, and Nearby Districts and Mines. EMX’s exploration samples were collected in accordance with accepted industry standards and guidelines.

The samples were submitted to the ALS Global laboratories in Malå, Sweden for sample preparation, and Loughrea, Ireland for analysis.

The base metals and silver underwent aqua regia digestion and analysis with ICP-AES/ICP-MS techniques. As standard procedure, the Company conducts routine QA/QC analysis on all assay results, including the systematic utilization of certified reference materials, blanks, and duplicate samples.

Reference to nearby mining districts and mines provides context for EMX’s projects, which occur in similar geologic settings. However, this is not necessarily indicative that the Company’s projects host mineralization with similar tonnages or grades.

Dr. Eric P. Jensen, CPG, is a Qualified Person under NI 43-101 and employee of the Company. Dr. Jensen has reviewed, verified and approved disclosure of the technical information contained in this news release.

source: juniorminingnetwork.com

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