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 August, 2015
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.
|
EURASIAN MINERALS INC. |
|
|
|
(Registrant) |
|
|
Date: August 4, 2015 |
By: |
/s/ Valerie Barlow |
|
|
|
|
Name: |
Valerie Barlow |
|
Title: |
Corporate Secretary |
|
Eurasian Minerals Inc.
NEWS RELEASE
|
|
Eurasian Minerals Options Aguila de Cobre Copper Project to
Kennecott Exploration Company
Vancouver, British Columbia, August 4, 2015 (TSX Venture:
EMX; NYSE MKT: EMXX) -- Eurasian Minerals Inc. (the Company or EMX)
is pleased to announce the signing of an Exploration and Option to Purchase
Agreement (the Agreement), through its wholly owned subsidiary Bronco Creek
Exploration, for the Aguila de Cobre porphyry copper project (the "Project")
with Kennecott Exploration Company (Kennecott), part of the Rio Tinto Group.
The Project is located approximately 120 kilometers west of Phoenix, Arizona in
a relatively un-explored region of the Arizona porphyry copper belt. Please see
www.eurasianminerals.com for more information.
Commercial Terms Overview. Pursuant to the Agreement,
Kennecott can earn a 100% interest in the Project by making cash payments and
performing exploration as follows (all amounts are USD):
Cash Payments:
- $25,000 upon execution of the Agreement (firm commitment);
- $25,000 on the first and second anniversaries of the Agreement;
- $50,000 on the third anniversary of the Agreement;
- $100,000 upon exercise of the Option.
Exploration:
- Completing $250,000 of exploration expenditures (or paying the Company
that amount) by the first anniversary of the Agreement (firm commitment);
- Completing an additional $3,750,000 of exploration expenditures (or paying
the Company that amount) by the third anniversary of the Agreement;
Upon exercise of the option EMX will retain a 2% NSR royalty on
the property. The EMX royalty is not capped and not subject to buy-down. The
Agreement contains a one-mile area of interest provision.
After exercise of the option, annual advanced minimum royalty
(AMR) payments are due starting at $50,000 and commencing on the first
anniversary of the exercise of the option. The AMR payments will increase to
$100,000 upon completion of an Order of Magnitude Study ("OMS") or Preliminary
Economic Assessment ("PEA") after which Kennecott may make a one-time payment of
$2,500,000 to extinguish the obligation to make future AMR payments. In
addition, if not previously extinguished, total AMR payments after the OMS or
PEA milestone payment are capped at $2,500,000, and all AMR payments cease upon
production from the properties.
In addition, Kennecott will make milestone payments consisting
of:
- $500,000 upon completion of an OMS or PEA;
- $500,000 upon completion of a Prefeasibility Study; and
- $1,000,000 upon completion of a Feasibility Study - this payment will be
credited against future royalty payments.
Suite 501 543 Granville
Street, Vancouver, British Columbia V6C 1X8, Canada
Tel: (604)
688-6390 Fax: (604) 688-1157
www.EurasianMinerals.com
Property Overview. The Àguila de Cobre Project comprises
40 federal lode mining claims and one Arizona State Land exploration permit,
totaling approximately 580 hectares. The Project covers an area of shallow
post-mineral cover ringed to the west by outcrops that exhibit alteration and
mineralization characteristic of the margins of porphyry copper systems and
developed over a broad area of >20 km2. The alteration patterns
within these outcrops, as well as in an area of historic drilling, vector
towards the Project's covered area and highlight two distinct porphyry copper
targets.
In the southern target area, an outcrop of intense
quartz-sericite-pyrite alteration with anomalous copper and molybdenum
mineralization, combined with alteration noted from five historic rotary drill
holes, suggest a concealed porphyry copper center. The historic rotary holes
intersected both distal and more proximal styles of porphyry alteration under
less than 80 meters of pediment cover. EMXs targeting principally stems from
structural re-constructions, a re-interpretation of the regional geology, and
recognition of multiple styles of porphyry-related alteration from field mapping
and summary logs of the five historic drill holes (approximately 560 meters)
completed by Anaconda Copper Co. in the early 1970s.
A second outcrop of intense (>2-3vol%) quartz-pyrite veins
with sericitic alteration and anomalous copper is located approximately five
kilometers west-northwest of the historic exploration. The distance between the
two areas of porphyry-related alteration suggests the presence of a second
porphyry copper center lying to the east-southeast of the exposed alteration,
and concealed beneath shallow pediment cover.
EMX executed its royalty generator business model by first
recognizing the Project's prospectivity for porphyry copper exploration as part
of the Company's ongoing generative program, and then following up with field
reconnaissance, reinterpreting existing geologic data, and acquiring the
property through staking open ground. The Project was identified and acquired
less than one year ago.
EMX and Kennecott are designing work programs to follow up on
the results of previous exploration. Kennecott will be the operator, with EMX
assisting through the programs first year.
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.
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 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 |
Website: www.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.
Suite 501 543 Granville
Street, Vancouver, British Columbia V6C 1X8, Canada
Tel: (604)
688-6390 Fax: (604) 688-1157
www.EurasianMinerals.com
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 three-month period ended March 31, 2015
(theMD&A) and most recently filed Annual Information Form
for the year ended period ended December 31, 2014 (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
EMX Royalty (AMEX:EMX)
Historical Stock Chart
From Apr 2024 to May 2024
EMX Royalty (AMEX:EMX)
Historical Stock Chart
From May 2023 to May 2024