EMX Royalty Corp. shared recent developments about three of the Company’s royalty properties in Turkey. The company’s latest update includes recent developments in Akarca Project, new drill results from the Balya lead-zinc-silver carbonate replacement deposit in northwestern Turkey and permitting process of the Sisorta high sulfidation gold deposit in northeastern Turkey.
Emx stated that Çiftay İnşaat Taahhüt ve Ticaret AŞ, the owner of the Akarca gold project, made the fourth preproduction payment of ~US $610,000 (the cash equivalent of 500 troy ounces of gold) to EMX in Q3. Receipt of this payment leaves a pre-production total of 5,000 ounces of gold (or the cash equivalent) to be paid to EMX by Çiftay on a schedule of 500 ounces every six months. Subject to certain deductions, EMX retains a sliding scale royalty ranging from 1% to 3% for gold production from the Akarca Project. Çiftay informed EMX that a scoping study is underway that includes diamond drill results announced earlier in 2018, such as 9.5 meters averaging 50.30 g/t gold and 29.2 g/t silver in the Arap Tepe area. EMX also stated that a follow-up 2018 exploration programs are awaiting drill permits.
EMX said that At the Balya lead-zinc-silver royalty property, Turkish owner Dedeman Madencilik San ve Tic. AS is continuing with its approx. 25,000 meter step-out drill campaign to fill in a approx. 500 meter long corridor between mineralization at Hastanetepe, where underground development work has been concentrated, and the Southern Zone target area. Dedeman provided to EMX with initial results from the program, which included 12.75 meters averaging 11.39% lead, 5.92% zinc and 225.18 g/t silver in hole DB108-B (true width approx. 95% of intercept length), as well as other intercepts in nearby holes at Hastanetepe. EMX has an uncapped 4.0% NSR royalty interest covering Balya
The Sisorta gold project’s Turkish owner, Bahar Madencilik Sinayi ve Ticaret Ltd Sti provided information about recent developments from the project. EMX stated that Environmental Impact Assessment (“EIA”) work is ongoing under the mine permitting process in Turkey. Once complete, Bahar intends to continue applying for the permits necessary for project development.
