Eurasian Minerals Inc announced an update on the exploration programs in Sweden including copper and gold mineralization intersected in recent drilling at the Sakkek prospect. Sakkek is part of the Kiruna South Designated Project and along with the Norrmyran Designated Project is being explored with Antofagasta Minerals SA, a wholly owned subsidiary of Antofagasta plc.
Antofagasta can earn up to 70% interest in a Designated Project through a combination of cash payments and work commitments that result in a NI 43-101 compliant feasibility study. EMX and Antofagasta are also conducting copper exploration in Sweden under a Strategic Regional Alliance Agreement. Designated Project and Regional Strategic Alliance exploration work is solely funded by Antofagasta.
The Company's portfolio of 22 granted exploration permits covers an area of 963 square kilometers in northern Sweden that is prospective for porphyry copper and gold and iron, oxide, copper and gold mineral deposits.
Kiruna South Designated Project - Sakkek Prospect. EMX recently concluded a seven hole, 1,975 meter reconnaissance diamond drilling program at the Kiruna South Designated Project's Sakkek prospect. The drilling targeted zones of anomalous copper mineralization concealed beneath glacial cover that was first recognized from historic drilling. EMX drilled seven widely spaced holes across an area of 1.1 by 0.9 kilometers. The first two holes intersected copper and gold mineralization and SAK-S4 drilled 300 meters to the south, also intersected copper and gold mineralization at the bottom of the hole.
Copper and gold mineralization in holes SAK-S1B, -S2B and S4 is chiefly developed as vein and veinlet swarms and hydrothermal breccias hosted by quartz monzonite, monzonite porphyries and felsic dikes. The vein and veinlet swarms and breccias contain copper sulfide minerals and a variety of gangue minerals including quartz, biotite, carbonate, alkali feldspar, iron oxides, white mica and sericite and fluorite. Many of the breccias have entrained quartz vein fragments and fragments of sulfide mineralization that appear to have been transported from other levels in the system.
The textures and mineral assemblages seen in these hydrothermal features may represent the distal portions of a copper and gold enriched mineralized system developed across a lateral extent of greater than 500 meters. The other four holes principally intersected trachyandesites that are cut by monzonite dikes and breccias and contain anomalous levels of copper. These holes appear to have been drilled peripheral to the copper and gold mineralization that occurs in the quartz monzonite and monzonite porphyries.
Kiruna South Designated Project - Saivo and Other Priority Prospects. Kiruna South Designated Project exploration work will now focus on reconnaissance drill tests in the Saivo area which is a target developed on the basis of anomalous copper and gold mineralization reported from historic base of till sampling programs conducted by the Swedish Geological Survey and LKAB. This mineralization is developed along a prominent north south regional geologic trend with coincident geophysical and geochemical anomalies on the eastern margin of the Kiruna South Designated Project area.
Other copper and gold prospects and mineralization within the Kiruna South Designated Project include Sierkavare, Puoltsa and Kalixfors. The Sierkavare prospect is located just over 3.5 kilometers northwest of Sakkek and was first identified by LKAB from diamond drilling conducted during 1982-1985. LKAB reported a historical copper resource in 1986 on the basis of 27 diamond drill holes totaling over 5,400 meters.
Norrmyran Designated Project - The Norrmyran Designated Project consists of over 126 square kilometers of exploration permits in northern Sweden's Skellefte Mineral Belt of volcanogenic massive sulfide and porphyry copper mineralization. The Swedish Geological Survey discovered copper-gold-molybdenum mineralization in granitoid outcrops and boulders during the 1980's. EMX's work on the property identified porphyry copper targets beneath glacial cover and a follow up program of reconnaissance diamond drilling is currently underway.
Source - Eurasian Minerals
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