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Eurasian Minerals: IGC Granted Additional License for Malmyzh Project
Dec. 10, 2015 11:03AM PST
Base Metals Investing Eurasian Minerals (TSXV:EMX) reported that IG Copper has received a new license for its Malmyzh copper-gold exploration project in Far East Russia. The licenses for the project are owned 51 percent by ICG and 49 percent by Freeport McMoRan Exploration, with ICG as operator. Eurasian Minerals is ICG’s largest shareholder.
Eurasian Minerals (TSXV:EMX) reported that IG Copper has received a new license for its Malmyzh copper-gold exploration project in Far East Russia. The licenses for the project are owned 51 percent by ICG and 49 percent by Freeport McMoRan Exploration, with ICG as operator. Eurasian Minerals is ICG’s largest shareholder.
As quoted in the press:
The new “Malmzyh Flanks” exploration license expands the Joint Venture’s land position covering the Malmyzh district for a total of 226.9 square kilometers, and includes additional areas for potential infrastructure development as well as extensions to known exploration targets. EMX is IGC’s largest shareholder with 42.2% of the issued and outstanding shares. Please see the attached map and www.eurasianminerals.com for more information.
Malmyzh Flanks Discussion and Project Overview. The Malmyzh Flanks exploration license (74.1 sq km) surrounds the previously granted Malmyzh and Malmyzh North exploration and mining licenses (152.8 sq km) on three sides, and provides additional areas for potential development with improved access to the Amur River. In addition, the new license includes a projection of the Freedom “magnetic cluster” to the north-northeast, and possible extensions of the reconnaissance drilled copper-gold mineralization at the North Slope and Destiny prospects. This exploration potential further highlights the project’s upside, which includes four inferred resource deposits open for expansion and eight additional prospects with drilled porphyry copper-gold mineralization.