Eurasian Minerals announced that initial processed material from Balya lead-zinc-silver royalty property of Dedeman Madencilik was shipped to to Dedeman’s mill at Kayseri for processing. The initial shipment consists of approximately 500 tonnes of high grade material and 3,700 tonnes of medium grade material.
Eurasian Minerals handed over the Balya property to Dedeman in 2006, and retains an uncapped 4% net smelter return royalty on the property.
Since acquiring the Balya property from Eurasian, Dedeman has carried out drilling and initial development of the Hastanetepe lead-zinc-silver deposit. Hastanetepe is a moderately dipping, 750 by 450 meter zone that extends from depths of 10-20 meters to 200-300 meters as multiple stacked horizons of lead-zinc-silver mineralization primarily developed along contacts between limestone and dacitic intrusions. Mineralization remains open for expansion in multiple directions. In addition to Hastanetepe, Dedeman identified the “Souther Zone” next to a mine of Esan.