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 May, 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.
[ X ] Form 20-F 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
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: |
May 4, 2015 |
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 Options Superior West Porphyry Copper
Project to Kennecott
Exploration Company
Vancouver, British Columbia, May 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 Superior West porphyry copper project with Kennecott
Exploration Company (Kennecott), part of the Rio Tinto Group. The project is
located adjacent to the Resolution porphyry copper project within the Superior
Mining District, approximately 100 kilometers east of Phoenix, Arizona. 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 a cash payment upon
execution of the Agreement of US$149,187, and thereafter completing US$5,500,000
in exploration expenditures and paying annual option payments totaling
US$1,000,000 before the fifth anniversary of the Agreement.
Upon exercise of the option EMX will retain a 2% NSR royalty on
the properties. Kennecott has the right to buy down 1% of the NSR royalty
covering 14 claims which are optioned (the Optioned Claims) from underlying
claim holders by payment of US$4,000,000 to EMX. Except with respect to the
Optioned Claims, the EMX royalty is not capped and not subject to buy-down.
After exercise of the option, annual advanced minimum royalty
(AMR) payments are due starting at US$125,000 and commencing on the first
anniversary of the exercise of the option. The AMR payments will increase to
US$200,000 upon completion of an Order of Magnitude Study ("OMS") or Preliminary
Economic Assessment ("PEA"). Kennecott may make a one-time payment of
US$4,000,000 to extinguish the obligation to make AMR payments. In addition, if
not previously extinguished, total AMR payments after the OMS or PEA milestone
payment are capped at US$4,000,000, and all AMR payments cease upon production
from the properties.
In addition, Kennecott will make milestone payments consisting
of:
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US$500,000 upon completion of an OMS or PEA;
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US$1,000,000 upon completion of a
Prefeasibility Study; and |
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US$2,500,000 upon completion of a Feasibility
Study. The Feasibility Study payment will be |
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credited against future royalty payments.
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Property Overview. The Superior West project comprises
more than 680 federal lode mining claims covering more than 5,100 hectares in
the vicinity of Superior, Arizona. The boundary of the property lies less than
two kilometers from the Resolution copper deposit. The project covers a broad
area of post-mineral cover rocks ringed by outcrops exhibiting alteration and
mineralization characteristic of the margins of porphyry copper deposits. The
alteration patterns within these outcrops vector towards the covered areas and
form at least two distinct porphyry copper target areas.
In the northern target area, the altered outcrops, as well as
ten historic, widely-spaced drill holes that intersected altered and mineralized
rocks across more than 20 square kilometers, suggest multiple concealed porphyry
centers. This target area also includes the western projection of the fault
truncated portion of the historic Magma Vein that vectors mineralogically and
geochemically onto EMX's property. EMX believes that the Magma Vein
mineralization is related to and sourced from a separate, not yet discovered
porphyry copper system. EMXs targeting principally stems from structural
re-constructions and re-interpretation of the district geology, surrounding
porphyry and porphyry-related deposits in the district, and information from the
ten historic drill holes (~10,180 m) completed by Superior Oil, Kennecott, and
others in the late 1960s, 1970s and 1990s.
Suite 501 543 Granville Street, Vancouver, British
Columbia V6C 1X8, Canada
Tel: (604) 688-6390 Fax: (604) 688-1157
www.EurasianMinerals.com
In the southern target area, vein-hosted base and precious
metals bearing replacement bodies and vein stockwork and disseminated (oxidized)
sulfide mineralization occur in outcrops adjacent to post-mineral cover rocks
and vector towards areas of cover, indicating the presence of another concealed
porphyry center within the EMX land position.
EMX and Kennecott are designing work programs to follow-up on
the results of previous exploration. Kennecott will be the operator with EMX
conducting work through the program's first year.
EMX executed its royalty and prospect generation business model
by acquiring Superior West through staking prospective open ground. EMXs
previous partner completed biological and archeological surveys over the
northern portion of the property, a magneto-telluric (MT) geophysical survey,
870 line-kilometers of ZTEM and magnetic geophysical surveys, and two diamond
drill holes totaling 1,972 meters. Both holes encountered distal styles of
porphyry copper mineralization and alteration peripheral to the current target
areas.
Note: The nearby mines and deposits in the district provide
context for EMX's Superior West Project, which occurs in a similar geologic
setting, but this is not necessarily indicative that the project hosts similar
mineralization.
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.
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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
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Website: www.EurasianMinerals.com |
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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.
Suite 501 543 Granville Street, Vancouver, British
Columbia V6C 1X8, Canada
Tel: (604) 688-6390 Fax: (604) 688-1157
www.EurasianMinerals.com
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 twelve month period ended December 31, 2014
(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
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