**********************
Press Release
Source: Eurasian
Minerals Inc.
**********************
Eurasian Minerals Acquires
Two Gold Projects in Haiti
Monday July 31, 8:30 am ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - July 31, 2006) - Eurasian
Minerals Inc. (the "Company" or "EMX") (TSX
VENTURE:EMX - News) is pleased to announce that it has acquired
the La Mine and Lamiel gold properties, located in the Caribbean
country of Haiti. Both properties have epithermal gold mineralization
documented by United Nations Development Program (UNDP) work,
and are hosted in a geological terrain similar to the world-class
Pueblo Viejo gold deposit located approximately 225 km to the
east. EMX management believes that Haiti has significant geologic
potential for the discovery of major new gold deposits. This potential,
coupled with an improving business climate in Haiti, follows EMX's
strategy of working in under-explored regions with excellent discovery
opportunities.
Overview
The geology of Haiti is very prospective for epithermal gold-silver
as well as copper-gold porphyry deposits, and consists of preserved
remnants of an early Cretaceous island arc assemblage situated
along the northern margin of the Caribbean Plate. This geologic
environment hosts numerous gold and copper occurrences in Haiti,
as well as the Pueblo Viejo deposit in the adjacent Dominican
Republic. Pueblo Viejo has estimated resources and reserves of
15.25 million ounces of gold and 82.8 million ounces of silver
(www.barrick.com, July, 2006). However, even though Haiti's mineral
potential is similar to that found in the Dominican Republic,
it has remained under-explored due to the country's historic economic
and political instability.
From 1972 to 1985, in order to assist in developing Haiti's economy,
the UNDP conducted extensive regional geological studies and exploration
programs. The UNDP work is credited with discovering and documenting
many gold and copper occurrences, including the gold mineralization
at EMX's new La Mine and Lameil properties. These two project
areas are covered by four EMX Exploration Permits totaling 37,788
hectares of mineral rights.
La Mine Project
The La Mine project is centered 15 km south of the Atlantic Ocean
and approximately 50 km west of the port city of Cap Haitien.
The property consists of one 9,950 hectare Exploration Permit,
and includes three separate mineralized prospects at La Mine,
Colombo, and Rivieres des Barres. Gold-silver-barite mineralization
at La Mine was discovered by the UNDP, and explored by Kennecott
from 1975 to 1977 (Kennecott results currently unavailable). Mineralization
and alteration occurs over an area extending approximately 7 km
north-south, and 1 to 2 km east-west, exposed through a series
of structural windows. The UNDP (1980) reported that the area
contains extensive epithermal mineralization, including massive
barite with gold, massive sulfides, and an extensive epithermal
stockwork-vein zone, with attendant gold-bearing gossans hosted
by andesitic to dacitic volcanic rocks.
Within the La Mine prospect sub-area, the UNDP (1980) identified
all three styles of mineralization:
- A zone of steeply dipping massive barite with sulfides and trench
sampling results over 17 meters averaging 7.6 g/t Au, using a
1.0 g/t cutoff.
- A massive sulfide type of mineralization, including a boulder
assaying 8.4% Cu, 1.2% Zn, 4.8 g/t Au, and 64.9 g/t Ag. The source
of the boulder has yet to be identified.
- The third style of mineralization consists of an extensive stockwork
vein zone that is reported to be 3 kms long (north-south) and
approximately 100 to 200 meters wide. The stockwork mineralization
was reported to contain 5 to 30% sulfides composed of pyrite-chalcopyrite-sphalerite.
At the Colombo prospect, the UNDP reported intrusive hosted stockwork
zones, with up to 7.5 g/t Au reported from rock chip samples.
The Rivieres des Barres prospect is also reported to contain stockwork
style mineralization, and a strong copper in soil anomaly (UNDP,
1980).
Field review by EMX personnel, including Chief Geologist T.H.
Chadwick, verified over 500 meters of vertical extent and 1.7
km of strike length to the high-sulfidation epithermal alteration
and mineralization. The northwest trend appears to be composed
of several near-vertical alteration zones controlled by northwest
structures several meters to at least 20 meters wide. Vuggy silica
and zones of massive barite occur high in the system at the southeast
end of the known trend.
Underlying zones of intensely argillized andesite are accompanied
by disseminated and stockwork pyrite (5-25%), with covellite stringers
(1-3%). Locally massive pyrite replacement was observed. The strongest
covellite mineralization (2-5%) was not trenched by the UNDP or
subsequent workers, and was found at the lowest elevation exposures
encountered. The level of exposure of the system in general is
very poor due to intense vegetative cover, and chances are thought
to be excellent for discovery of additional mineralization.
Lamiel Project
The Lamiel project is located adjacent to the Haiti-Dominican
Republic border, approximately 50 km south of the Atlantic Ocean
and 65 km east of Cap Haitien. The property consists of three
Exploration Permits, totaling 27,838 hectares that cover a 35
km long segment along the southern edge of the prospective Massif
du Nord arc terrain. The project contains three areas of epithermal
mineralization at the Grande Savane, Morne Bazille and Lamiel
prospects. The Grande Savane area contains three argillic and
advanced argillic alteration zones associated with a tabular silica
cap, hosted in intermediate volcanic rocks over an area of eight
square kms. Historic reports from the UNDP (1980) identified gold
values up to 3.7 g/t gold from rock samples and a two km long
gold in soil geochemical anomaly. The Morne Bazille and Lamiel
prospect areas contain similar styles of alteration characteristic
signatures of high sulfidation epithermal systems, including a
quartz-barite-limonite cap, veins and breccias.
EMX Establishes Exploration Program in Haiti
EMX's appraisal is that Haiti's outstanding mineral potential
has been overshadowed by political and economic turmoil during
the last 20 years. EMX recognizes that the Government of Haiti
is entering a new period of stabilization, favoring an environment
for investment and growth. EMX considers this an opportune time
to establish an early-stage exploration program in Haiti focussing
on known, but undeveloped occurrences. Further, EMX hopes to contribute
to the economic and social development of the country, through
successful development of productive mineral properties.
EMX's programs in Haiti are directed by Mr. Keith A. Laskowski,
an industry veteran with over 25 years of international minerals
exploration experience. Mr. Laskowski holds an M.Sc. in geology
from the Colorado School of Mines, and worked for Newmont Exploration
Ltd. from 1980-1997, including a posting as Caribbean Exploration
Manager. Subsequently, Mr. Laskowski served as the President of
Gallant Minerals Inc., and more recently as President and Chief
Operating Officer of Solomon Resources Limited. Mr. Laskowski
has established EMX's exploration office in Port Au Prince, which
is headed by Dr. Dominique Boisson.
EMX is proceeding with work on the La Mine and Lamiel Exploration
Permits, while pursuing additional early-stage opportunities in
Haiti. These Permits have a maximum duration of two years, and
provide for surface exploration activities, but no drilling. An
Exploration Permit can be converted to a Research Permit, which
does provides for drilling as well as feasibility studies. EMX
has proposed a $500,000 USD exploration program over the next
two years consisting of regional geochemical sampling (streams
and soils) with simultaneous mapping and rock sampling to delineate
prospective target areas for trenching, and conversion to Research
Permit status for drill testing.
Comments on Historic Exploration Results
The Company has referenced historical work results from the United
Nations Development Program activities that were published as
'Exploration for Precious and Base Metals in Northern Haiti, Final
Report Vol. 1, UNDP, 1980'. The Company believes that these results
are reliable and relevant, and is currently performing independent
verification and field follow-up.
Mr. Keith A. Laskowski, a Qualified Person as defined by National
Instrument 43-101 and consultant to the Company, has reviewed
and verified the technical information contained in this news
release.
Forward-Looking Statement
Some of the statements in this news release contain forward-looking
information that involves inherent risk and uncertainty affecting
the business of Eurasian Minerals Inc.
Actual results may differ materially from those currently anticipated
in such statements.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Contact:
David M. Cole
Eurasian Minerals Inc.
President and Chief Executive Officer
(303) 979-6666
dave@eurasianminerals.com
Kim C. Casswell
Eurasian Minerals Inc.
Corporate Secretary
(604) 688-6390
(604) 688-1157 (FAX)
kcasswell@eurasianminerals.com
www.eurasianminerals.com
Source: Eurasian Minerals Inc.
**********************
**********************
Eurasian
Proposes to Carry Out a Private Placement and Form a Haiti Regional
Exploration Alliance wi
Eurasian Minerals Inc. (TSX VENTURE:EMX) is pleased to
announce it is engaged in advanced negotiations with Newmont Ventures
Limited, a subsidiary of Newmont Mining Corporation (NYSE:NEM)
with respect to a Private Placement of units of Eurasian, a Regional
Exploration Alliance for Northern Haiti, and earn-in Joint Venture
on Eurasian's La Miel Project in Haiti.
The proposed agreements are subject to a 30 day title due diligence
period by Newmont and will require the parties to negotiate final
terms and prepare, approve and execute final definitive agreements.
Eurasian's Haitian projects are located in northern and northeast
Haiti and are covered by six exploration permits totalling over
500 square kilometres and are located along a segment of prospective
geologic terrain similar to, and on trend with, the world-class
Pueblo Viejo gold-silver deposit in the neighbouring Dominican
Republic. The full terms of the proposed Exploration Alliance
and earn-in Joint Ventures will be announced upon final approval
and execution of the definitive agreements.
As part of the proposed transaction, Newmont would purchase 1,700,000
units from Eurasian at a price of CDN$2.06 per unit. Each unit
will consist of one common share and 0.75 non-transferable common
share purchase warrants. Each full warrant will entitle Newmont
to purchase one additional common share for a period of two years
at a purchase price of CDN$2.50 per unit. The placement will be
subject to exchange approval.
Forward-Looking Statement
Some of the statements in this news release contain forward-looking
information that involves inherent risk and uncertainty affecting
the business of Eurasian Minerals Inc. Actual results may differ
materially from those currently anticipated in such statements.
Such statements include, without limitation, statements regarding
the settlement and execution of formal documentation with respect
to the proposed agreements with Newmont.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Source: PR-USA.
NET, Feb. 2, 2008
**********************
Haiti Mining (as of Dec.
1989)
http://www.photius.com/countries/haiti/
economy/haiti_economy_mining.html
Sources: The Library of Congress Country Studies; CIA World Factbook
The
Official story on Haiti Mining from US and IDB's old role
Endowed with few commercially valuable natural resources, Haiti
maintained only a small mining sector in the late 1980s; mining
accounted for less than 1 percent of GDP, and it employed less
than 1 percent of the labor force. The country's only bauxite
mine, the Miragoâne mine in the southern peninsula, produced
an average of 500,000 tons of bauxite a year in the early 1980s;
however, in 1982 the declining metal content of the ore, high
production costs, and the oversupplied international bauxite market
forced the mine to close. Bauxite had at one time been the country's
second leading export. Copper also was mined, beginning in the
1960s, but production of the ore was sporadic.
Haiti contained relatively small amounts of gold, silver, antimony,
tin, lignite, sulphur, coal, nickel, gypsum, limestone, manganese,
marble, iron, tungsten, salt, clay, and various building stones.
Mining activity in the late 1980s focused on raw materials for
the construction industry. The government announced the discovery
of new gold deposits in the northern peninsula in 1985, but long-standing
plans for gold production proceeded slowly. With funding from
the Inter-American Development Bank (IDB), the government planned
to perform its first comprehensive geological survey in the late
1980s.
Data as of December 1989 NOTE: The information
regarding Haiti on this page is re-published from The Library
of Congress Country Studies and the CIA World Factbook. No claims
are made regarding the accuracy of Haiti Mining information contained
here. All suggestions for corrections of any errors about Haiti
Mining should be addressed to the Library of Congress and the
CIA.
Source: This article was published
at Haiti
Mining
**********
Recommended Links:
Expose The Lies
1.
Stealing Haiti's Gold, Copper and Uranium under cover of regime
change - The Exploitation of Gold and Copper in Trou Du Nord
http://www.margueritelaurent.com/pressclips/expose1.html#gold
-Gold
and Copper Exploitation Resumes in the North and Northeast Departments
of Haiti
http://www.margueritelaurent.com/pressclips/expose1.html#gold2
2.
Plundering Haiti's Under Water Treasures: Authorities in Florida
are opening an investigation into the origins of emeralds stolen
from an interim Haitian dignitary's home
http://www.margueritelaurent.com/pressclips/expose1.html#Ile
3.
Audit of State Institutions continues: Valuable objects stolen
from the National Palace
http://www.margueritelaurent.com/pressclips/expose1.html#audit
4 .
Preval Govenment Denounces Heritage Looting
5.
Bronze cannons, gold and emerald pieces stolen at certain sites
in Ile-à-Vaches: A representative of Sub Sea Research company
confirms that these thefts would have never occurred without the
complicity of the interim regime, Port au Prince, 27, April 2006
(AHP)
French Original: Canons
en bronze et pièces en or et émeraude volés
dans des sites sous-mains de l'Ile-à-Vaches:Un responsable
de la compagnie Sub Sea Research affirme que ces vols n'auraient
jamais pu être commis sans la complicité de membres
du regime intérimaire, Port-au-Prince, 27 avril 2006- (AHP)
*****
6.
The General Director of the Bureau of Mines and Energy struck
by the announcement of the plunder at the sea-beds of Ile-à-Vaches,
27 April 2006 (AHP)
French Original: Le
directeur général du Bureau des Mines et de l'Energie
sidéré par l'annonce de pillages dans les fonds
marins de l'Ile-à-Viache |Port-au-Prince, 27 avril 2006-
(AHP)
***
7.
Fleecing Haiti 1) Is it true that
Latortue continues to fleece Haiti at $15,000 per month? (See
July 23, 2006 AHP report below) **
2)
Multinational corporation wants $2million in damages from Haiti's
new government for stolen canons and heritage looting under the
Latortue IMPOSED government
|
