UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR
15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of September, 2014
Commission File Number: 001-35404
EURASIAN MINERALS INC.
(Translation of registrants name into English)
Suite 501 543 Granville Street
Vancouver,
British Columbia V6C 1X8
Canada
(Address of principal
executive offices)
Indicate by check mark whether the registrant files or will file
annual reports under cover Form 20-F or Form 40-F.
[ ] Form 20-F [X]
Form 40-F
Indicate by check mark if the registrant is submitting the Form
6-K in paper as permitted by Regulation S-T Rule 101(b)(1): [ ]
Indicate by check mark if the registrant is submitting the Form
6-K in paper as permitted by Regulation S-T Rule 101(b)(7): [ ]
SUBMITTED HEREWITH
Exhibits:
SIGNATURES
Pursuant to the requirements of
the Securities Exchange Act of 1934, the registrant has duly caused this report
to be signed on its behalf by the undersigned, thereunto duly authorized.
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EURASIAN MINERALS INC. |
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(Registrant) |
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Date: September 23, 2014 |
By: |
/s/ Valerie Barlow |
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Name: |
Valerie Barlow |
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Title: |
Corporate Secretary |
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Eurasian Minerals Inc. |
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NEWS RELEASE |
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Eurasian Minerals Provides an Exploration, Royalty, and
Strategic Investment Update
Vancouver, British Columbia, September 23, 2014 (TSX
Venture: EMX; NYSE MKT: EMXX) Eurasian Minerals Inc. (the
Company or EMX) is pleased to provide an update on
the Companys recent exploration, royalty, and strategic investment
developments. EMXs diversified mineral property interests span five continents,
and include the Leeville royalty in Nevadas Northern Carlin Trend, the Akarca
gold-silver discovery, and an interest in IG Copper LLC ("IGC") and its emerging
copper-gold discovery at Malmyzh. EMX is aggressively pursuing royalty and
exploration business opportunities from around the world to add to its growing
portfolio.
North America. A principal EMX asset is the Leeville
royalty property that covers portions of Newmonts Carlin Trend underground mining operations. This 1%
gross smelter return royalty has included payments from Newmont's Leeville mine,
as well as the gold mining operations at Carlin East, North Lantern, Four
Corners and Turf. The Turf No. 3 Vent Shaft Project is in the construction
phase, with commercial production planned for late 2015 (see Newmont Mining
Corp's 10-Q filing dated June 30, 2014). Newmont stated the project will provide
the ventilation required to "increase production" and "unlock" additional
resources. Newmont estimates capital expenditures of $400 million for the
project. The Turf Vent Shaft Project will impact "greater Leeville", which
includes portions of EMX's royalty position. EMX has received Leeville net
royalty income of approximately US $5.7 million since acquiring the asset in
August, 2012.
The Companys wholly-owned subsidiary in North America, Bronco
Creek Exploration (BCE), has been advancing its copper and gold portfolio
through partner-funded work programs in Arizona and Nevada. In addition to these
programs, the Company's generative exploration initiatives resulted in staking
additional ground in key mining districts.
Earlier this summer, EMX partnered the Lomitas Negras Arizona
porphyry copper project with Kennecott Exploration, part of the Rio Tinto Group,
and the Cathedral Well Carlin-type gold project in Nevada with Ely Gold and
Minerals Inc. Both agreements include staged option payments to EMX, and a
retained royalty interest with yearly advanced minimum royalty payments upon
partner earn-in (see EMX news releases dated May 15 and July 7, 2014).
Copper Basin hosts a porphyry copper (molybdenum) system with
nearly a kilometer of vertical extent within a 1.5 square kilometer area of
exposed porphyry style alteration, mineralization, and related geophysical
anomalies. The Company regained 100% control of the Copper Basin property in
July after Vale relinquished their interest in the project. In total, Vale spent
more than US $3.5 million adding value to the property by 100% funding BCE's
geologic mapping, sampling, geophysical surveys, and 3,916 meters of drilling in
two programs. Copper Basin is available for partnership, with significant
portions of the original target still untested by drilling.
EMX's Superior West project is another Arizona
porphyry copper property available for partnership. The project is located west
of the historic mining town of Superior, Arizona, and adjacent to the Resolution
Copper property. Superior West covers several porphyry copper targets, as well
as the projected western extension of the historic Magma Vein as indicated by
structural geologic reconstructions and geophysical anomalies. The Company is in
discussions with several potential partners interested in the property.
Elsewhere, partner companies advanced projects in EMXs North
American portfolio by completing geophysical surveys and permitting for planned
drill programs.
Suite 501 543 Granville
Street, Vancouver, British Columbia V6C 1X8, Canada
Tel: (604)
688-6390 Fax: (604) 688-1157
www.EurasianMinerals.com
Turkey. All EMX projects in Turkey are being advanced by
partner companies. Partner Çolakoglu Ticari Yatirim A.S. reported drill results
from the Akarca project that expanded the size of the Fula Tepe gold-silver
zone, which still remains open in all directions. Notably, the recent drilling
intersected two of the three highest grades from the property to date (AKC-112
with 1.1m @ 112.5 g/t Au and 397 g/t Ag and AKC-120 with 1.0m @ 155.5 g/t Au and
1060 g/t Ag; true widths estimated at 50-75% of interval length). In addition,
reconnaissance drilling intersected new gold-silver veins a further 100 meters
to the northwest (AKC-119), and 200 meters to the southeast (AKC-128A, AKC-129)
of the zone (see EMX news release dated July 17, 2014).
Australia and New Zealand. EMX continued to expand its
asset portfolio in the region by applying for new exploration and prospecting
permits in New Zealand's Hauraki Goldfield and Taupo Volcanic Zone, while
continuing to evaluate other opportunities in the country. These new
acquisitions are being made at minimal cost in a prospective and politically
stable jurisdiction.
Elsewhere in New Zealand's Hauraki Goldfield, EMX continued to
advance the Neavesville gold-silver project. The property hosts a variety of
mineralization styles that include replacement bodies in black shales and
breccias, as well as higher-grade, structurally controlled quartz veins. EMX is
continuing discussions with potential partners.
At EMXs Koonenberry project in Australia, all of the companys
interests are being advanced by partner companies, with EMX retaining various
royalty interests that cover the entire project area totaling over 1,400 square
kilometers. EMX was recently granted a new exploration permit covering 88.5
square kilometers of ground previously held under option by Eurasian. This newly
granted EMX tenement is now included in the Exploration and Option Agreement
with North Queensland Mining Pty Ltd (NQM) (see EMX news release dated
February 19, 2014), with EMX retaining a royalty interest upon NQM's earn-in.
Scandinavia. EMX initiated a new exploration program in
Norway, and acquired the Storbekken and Burfjord properties through staking open
ground. Storbekken hosts multiple exposures of gold-enriched Volcanogenic
Massive Sulfide (VMS) style mineralization near the historic Røros mining
district in southern Norway. Burfjord, in northern Norway, hosts gold-copper
targets in metamorphic rock sequences, and contains historic mineral prospects
with outcropping copper and gold mineralization identified by the Norwegian
Geological Survey in the mid-1990s.
In Sweden, EMX is considering commercial options for its 100%
controlled portfolio of exploration permits that cover polymetallic VMS and
Iron-Oxide-Copper-Gold (IOCG) prospects, and other areas with copper, gold,
and platinum group element-enriched styles of mineralization. Earlier this year,
Sweden received the top ranking in the Fraser Institutes
Policy Potential Index (www.fraserinstitute.org) based upon its favorable fiscal
and political regimes for mining and exploration. This has spurred interest in
the exploration projects in Sweden, and EMX is engaged in discussions with
potential partners.
Avalon Minerals Ltd. (ASX:AVI) announced an updated Scoping
Study on its flagship Viscaria project, including new JORC compliant resource
estimates and open pit optimization scenarios in an August 28th news release.
EMX holds a 1.0% net smelter return (NSR) royalty over the "Viscaria 101"
Exploration Permit, which includes the Zone A, Zone B and Zone D
copper-iron resources described in Avalons updated report. A Finnish company, Outokumpu Oyj, is
entitled to receive 0.5% NSR payable from EMXs royalty, resulting in Eurasian
receiving net 0.5% NSR royalties until Outokumpu has received a total of $12
million in royalty payments, after which time EMX will receive the full benefit
of the 1.0% NSR royalty. The Viscaria project is an IOCG deposit located in the
Kiruna Mining District in Norrbotten County of Northern Sweden. The Kiruna
District is well known for its IOCG deposits, and is home to the worlds largest
underground iron mine, Luossavaara-Kiirunavaara Aktiebolags (LKAB) Kiruna
mine.
Suite 501 543 Granville
Street, Vancouver, British Columbia V6C 1X8, Canada
Tel: (604)
688-6390 Fax: (604) 688-1157
www.EurasianMinerals.com
Austria. EMX is exploring for gold deposits in the
Bohemian Massif of northern Austria. With numerous gold deposits and occurrences
located within the Bohemian Massif in the adjacent Czech Republic, EMX believes
the lack of known deposits on the Austrian side reflects a lack of systematic
historic exploration. Since 2012, EMX has been collecting stream sediment
samples throughout northern Austria, and in the course of the program has
identified multiple gold anomalies. Gold mineralization has been subsequently
identified in outcrop and float samples at several locations, and EMX has
acquired mineral rights across the strongest gold anomalies in the region.
Systematic sampling and prospect-scale evaluation programs are continuing.
Haiti. EMX and joint venture partner Newmont Ventures
Limited (Newmont), a wholly owned subsidiary of Newmont Mining Corporation
(collectively, the JV), have a land position along a 130 kilometer trend of
Haitis Massif du Nord mineral belt. The Haitian Government has been working
with the World Bank since mid-2013 to revise Haiti's mining law to be more
consistent with current international standards. There have been ongoing
consultation meetings between the World Bank, the Government of Haiti, the JV
and other mining companies, and business community and civil society
representatives to present comments on draft versions of the new Haitian Mining
Code. EMX is committed to play a key role in the development of Haiti's mining
sector and the contribution it can make to the country's economic growth.
Strategic Investment IG Copper LLC. IGC,
an EMX strategic investment, has advised Eurasian that over 70,000 meters of
drilling have been completed at the Malmyzh copper-gold project, and ongoing
work includes resource, engineering, metallurgical, and environmental studies
conducted according to Russian Federation reporting requirements. The project is
approximately 220 kilometers northeast of the Russia-China border at Khabarovsk,
and has excellent logistics and infrastructure, including high voltage power
lines, a natural gas pipeline, a paved national highway, and a rail line that
are all nearby to the property. The Malmyzh exploration and mining licenses are
held by a joint venture between IGC (51%) and Freeport-McMoRan Exploration
Corporation (49%), with IGC operating and managing the project.
IGC also advised it had acquired the 260 square kilometer
Salasinskaya property that is located 20 kilometers from IGC's 390 square
kilometer Shelekhovo gold-silver-copper project. The Salasinskaya and Shelekhovo
properties, both outside of the Malmyzh joint venture, are 100% controlled by
IGC, and occur approximately 150 kilometers northeast of Malmyzh. Together, the
three properties cover approximately 800 square kilometers of exploration ground
occurring along a ~200 kilometer belt of prospective Cretaceous-age arc terrane
rocks. EMX recently exercised warrants, bringing its total IGC investment to US
$7.8 million, in recognition of the value generated by the successes at Malmyzh,
and by the Shelekhovo and Salasinskaya acquisitions. EMX is IGCs largest
shareholder with 42.36% of the issued and outstanding shares, and 39.44% equity
position on a fully-diluted basis.
Strategic Investment Iron Creek Capital
Corp. Another important EMX strategic investment is Iron Creek Capital
(TSX-V: IRN: Iron Creek). Iron Creek has assembled a portfolio of high-quality
exploration projects prospective for copper, gold and silver mineralization,
covering more than 120,000 hectares of exploration tenements along proven
mineral belts in northern Chile. Iron Creek has optioned its largest property,
Las Pampas (50,000 hectares), prospective for high-grade precious metals veins,
to a subsidiary of Kinross Gold Corp. Iron Creek also retains an uncapped 2% NSR
royalty over an additional 45,000 hectares of exploration ground prospective for
copper and precious metals mineralization at Victoria in northern Chile.
As announced in a September 19, 2014 news release, Iron Creek
and Polar Star Mining Corporation (TSX: PSR) agreed in principle to merge the
two companies via a statutory amalgamation, plan of arrangement or similar
shareholder approved transaction. Once the merger is complete, the new company
will control approximately 330,000 hectares of exploration
ground in northern Chile, making it one of the principal holders of exploration
tenements in Chile. The merged company will have existing option and joint
venture agreements with Kinross Gold (the Las Pampas option agreement), Newmont
Mining (Polar Stars Montezuma joint venture agreement), and BHP Billiton
(Polar Stars Blocks 2, 3 & 4 joint venture agreements). The current Iron
Creek team will continue on as management for the new merged company.
Suite 501 543 Granville
Street, Vancouver, British Columbia V6C 1X8, Canada
Tel: (604)
688-6390 Fax: (604) 688-1157
www.EurasianMinerals.com
Discussion and Outlook. EMX has a three-pronged business
model that consists of organic prospect and royalty generation, royalty
purchases, and strategic investments. Eurasian currently has interests in over
70 mineral properties, ranging from the Leeville royalty in the heart of the
Carlin Trend, to grassroots exploration properties in central Europe's Bohemian
Massif. In addition to the royalty payments from Leeville, EMX receives advance
royalty payments from other properties in the portfolio. These provisions of
capital help sustain the Company as it continues to acquire new projects, form
new partnerships, and grow the portfolio.
The Company remains focused on copper and gold opportunities,
with an emphasis on building the asset base in favorable jurisdictions such as
Scandinavia, New Zealand, and the United States. The recent acquisition of
properties with historic prospects on open ground in Norway has been
encouraging, and the Company is pursuing additional opportunities across
Scandinavia. Similarly in New Zealand, one of EMX's tenement applications covers
historically drilled epithermal gold mineralization in the productive Hauraki
Goldfield. In North America, additional ground has been acquired through staking
in brownfield settings adjacent to active development and mining operations.
These new acquisitions come from a core group of entrepreneurial EMX geologists
that are searching worldwide for new generative exploration opportunities, as
competitor activity further diminishes.
There are challenges for Eurasian as well. Although EMX gained
two new partners in the western US for the Lomitas Negras and Cathedral Well
projects, the Copper Basin and Jasper Canyon projects were recently returned to
the Company. It is a well established industry maxim that over time, multiple
cycles of exploration occur before a discovery is made. Exploration insights and
results gained from successive partner-funded programs build value for EMX's
properties and increase the odds for success. Akarca is a good example, with
partner Çolakoglu taking advantage of over $5 million of previous exploration
and continuing to discover new gold-silver mineralization on the property.
EMXs diversified business model, which includes strategic
investments, helps to meet the challenges of growing the Company. The Companys
strategic investments include IGCs Malmyzh district-scale porphyry copper-gold
discovery and two 100% controlled properties along trend in the same belt of
prospective rocks, as well as Iron Creeks consolidation of a substantial
property portfolio in the prolific mineral trends of northern Chile. These
investments have proven to be key Company assets that continue to grow in value
over time.
Comments on Sampling, Assaying, and QA/QC. Drill samples
for the Akarca project were collected in accordance with industry best practice
standards and guidelines. As standard procedure, routine QA/QC analysis was
carried out on all assay results, including the systematic utilization of
certified reference materials, blanks, and duplicate samples. The Akarca samples
were submitted to ALS Chemex laboratories in Izmir, Turkey and Vancouver, Canada
(ISO 9001:2000 and 17025:2005 accredited) for sample preparation and analysis.
Gold was analyzed by fire assay with an AAS finish, and silver underwent aqua
regia digestion and analysis with ICP-MS/AES techniques. Over limit assays for
gold were conducted with fire assay and a gravimetric finish, and over limit
analyses for silver were conducted with ICP-AES techniques.
Suite 501 543 Granville
Street, Vancouver, British Columbia V6C 1X8, Canada
Tel: (604)
688-6390 Fax: (604) 688-1157
www.EurasianMinerals.com
About EMX. Eurasian Minerals leverages asset ownership
and exploration insight into partnerships that advance our mineral properties,
with EMX retaining royalty interests. EMX complements its generative business
with strategic investment and third party royalty acquisition.
Please see www.EurasianMinerals.com or EMX's Asset Handbook for
more information.
Mr. Dean D. Turner, CPG, a Qualified Person as defined by
National Instrument 43-101 and consultant to the Company, has reviewed, verified
and approved the disclosure of the technical information contained in this news
release.
-30-
For further information
contact:
David M. Cole |
Scott Close |
President and Chief Executive Officer |
Director of Investor Relations |
Phone: (303) 979-6666 |
Phone: (303) 973-8585 |
Email: Dave@EurasianMinerals.com
|
Email: SClose@EurasianMinerals.com |
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release may contain forward looking statements
that reflect the Companys 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 Companys future operational or financial performance, and are
subject to risks and uncertainties and other factors that could cause Eurasians
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, increased regulatory compliance costs, expectations of project funding
by joint venture partners 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 Companys MD&A for the six-month period ended June 30, 2014 (the
MD&A) and most recently filed Annual Information Form for the year
ended December 31, 2013 (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 SECs EDGAR website at www.sec.gov.
Suite 501 543 Granville
Street, Vancouver, British Columbia V6C 1X8, Canada
Tel: (604)
688-6390 Fax: (604) 688-1157
www.EurasianMinerals.com
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