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Eurasian Minerals Signs Agreement with Kennecott for Lomitas Negras
May. 15, 2014 09:03AM PST
Base Metals Investing
Eurasian Minerals Inc. (TSXV:EMX,NYSEMKT:EMXX) has signed an exploration and option to purchase agreement through its 100 percent owned subsidiary Bronco Creek Exploration with Kennecott Exploration Company for the Lomitas Negras porphyry copper project. Kennecott is part of the Rio Tinto Group. The Lomitas Negras project is roughly 50 kilometers northeast of Tucson, Arizona in the prolific Laramide-age porphyry copper belt of the southwestern United States.
Eurasian Minerals Inc. (TSXV:EMX,NYSEMKT:EMXX) has signed an exploration and option to purchase agreement through its 100 percent owned subsidiary Bronco Creek Exploration with Kennecott Exploration Company for the Lomitas Negras porphyry copper project. Kennecott is part of the Rio Tinto Group. The Lomitas Negras project is roughly 50 kilometers northeast of Tucson, Arizona in the prolific Laramide-age porphyry copper belt of the southwestern United States.
As quoted in the press release:
Pursuant to the Agreement, Kennecott can earn a 100% interest in the project by completing US$4,500,000 in exploration expenditures and paying escalating option payments totaling US$900,000 within five years after the date of the Agreement, after which EMX will retain a 2% NSR royalty.
Click here to read the Eurasian Minerals Inc. (TSXV:EMX) press release