EMX Balya North Royalty Ownership Update

By on December 20, 2021 0

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Vancouver, British Columbia – (Newsfile Corp. – December 20, 2021) – EMX Royalty Corporation (US NYSE: EMX) (TSXV: EMX) (FSE: 6E9)(the “Company” or “EMX”) is pleased to provide an update on its Balya North lead-zinc-silver royalty property in Northwest Turkey. EMX retains an uncapped 4% NSR royalty on the Balya North development project. Representatives of EMX recently visited Balya North operations to visit the project area and meet operator Esan Eczaciba_i Endüstriyel Hammaddeler San. ve Tic. A. ^. (“Esan”).

Esan informed EMX that the development ramps to be used for production at Balya North are nearing completion, with the first ramp reaching a length of 520 meters at an 8% grade to access the highest bodies of mineralization at the Balya North deposit. (about 50 meters deep below the surface). A ventilation shaft that will also serve as a secondary escape route (for safety purposes) has also been completed and initial production is underway.

During the development of the ramp, approximately 18,000 tonnes of lead-zinc-silver mineralized material was intersected by the work and was stored on the site. This material is now processed in the nearby Esan plant.

In addition, Esan has several drilling rigs on site, testing the extensions at depth of the Balya North deposit and infill drilling in the mineralized zones to improve their confidence level. Esan informed EMX that approximately 35,000 meters of exploration drilling has been completed so far in 2021, with an additional 5,000 meters expected to be completed during the current campaign. The new drilling significantly widens areas of known mineralization along the trend and at depths in the system (s) (see drill update below).

In addition to ongoing development work and drilling programs, Esan is also reconfiguring portions of the processing lines at its nearby grinding and concentration facilities to accommodate the feed of new material from the EMX royalty property. This includes changes to the lines that feed stocks of fine materials and the addition of an automated sampler to collect representative samples of materials from Balya North as they feed into processing systems. It is expected that this work will be completed in early 2022.

Drilling update. Highlights of recent drilling by Esan are presented in Table 1 below. These include several notable interceptions from deep levels in the system (depths greater than 700 meters), which show that the mineralization at Balya North continues to be robust at depth and remains open in several directions. Interceptions from these depths have not yet been included in internal resource models, as more drilling will be required to define the extents and limits of mineralization at deep levels.

Numerous thick intervals of mineralization were also evident at shallower levels in the Balya North deposit. Like other part of the system (s), silver tends to be highly enriched in areas of lead rich (galena) mineralization, and this is well demonstrated by recent drilling results. Esan has informed EMX of its intention to continue its aggressive drilling program in 2022.

Table 1: Highlights of recent Balya North drilling

Borehole From AT Length (meters) * % bp Zn% Ag ppm
BKS-005 830.6 837 6.4 8.61 0.16 96.82
BKS-020 388.5 408.6 20.1 8.05 3.61 101.15
BKS-031 783.5 787.4 3.9 10:30 5.08 342.00
BKS-057 313.6 330.6 17 5.83 4.93 61.28
BKS-057 343.4 366.9 23.5 16.24 5.24 243.08
BKS-066 570.7 596.2 25.5 2.80 3.51 163.91

* as measured in drill core; true widths not reported and remain unknown

Overview of Balya North royalty ownership. EMX retains a 4% net smelter return royalty (“NSR”) on its Balya North royalty property, which is located in the historic mining district of Balya in northwestern Turkey. Mining in Balya has taken place since ancient times, with several generations of historical operations. The district contains large areas of lead-zinc-silver mineralization hosted in a shear and carbonate replacement style (“CRD”) zone in addition to skarn and copper-rich styles of mineralization developed at depth.

Esan acquired the EMX royalty property at the end of 2019 (see EMX press release of January 7, 2020) and is a privately held Turkish company that operates 40 mines and eight processing plants. More importantly, Esan operates a lead-zinc mine and flotation plant on the property immediately adjacent to EMX’s Balya North royalty property.

EMX congratulates Esan for their continued development progress at Balya North and looks forward to further updates as production progresses.

Comments on sampling, assay and QA / QC. ESAN’s drill samples were taken in accordance with best industry standard practices. Samples were submitted to ALS Laboratories in Izmir, Turkey and Vancouver, Canada (ISO 9001: 2000 and 17025: 2005 accredited) for sample preparation and analysis. Silver and base metal analyzes are determined by four acid digestion techniques and ICP MS / AES. Limit exceedance analyzes are performed by atomic absorption and in some cases (> 30% Pb and> 30% Zn) by volumetric titration techniques. ESAN performs routine QA / QC analyzes on their analysis results, including the use of certified reference materials, blanks and duplicate samples.

Dr. Eric P. Jensen, CPG, a qualified person as defined by National Instrument 43-101 and employee of the Company, has reviewed, verified and approved the disclosure of the technical information contained in this press release.

About EMX. EMX is a precious metals, base and battery royalty company. EMX investors benefit from discovery, development and commodity pricing options, while limiting exposure to the risks inherent in operating companies. The Company’s common shares are listed on the US Stock Exchange NYSE and on the TSX Venture Exchange under the symbol EMX, as well as on the Frankfurt Stock Exchange under the symbol “6E9”. Please visit www.EMXroyalty.com for more information. For more information contact:

David M. Cole
President and CEO
Telephone: (303) 973-8585
[email protected]

Scott Close
Director of Investor Relations
(303) 973-8585
[email protected]

Isabelle Belger
Investor Relations (Europe)
Telephone: +49 178 4909039
[email protected]

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking statements

This press release may contain “forward-looking statements” which reflect the Company’s current expectations and projections regarding its future results. These forward-looking statements may include statements regarding the perceived value of properties, exploration results and budgets, mineral reserves and resource estimates, work programs, capital expenditures, timelines, strategic plans, pricing. of the precious and base metals market, or other statements which are not statements of fact. When used in this press release, words such as “estimate”, “intend”, “expect”, “anticipate”, “will”, “believe”, “potential”, ” ”And similar expressions are intended to identify forward-looking statements which, by their very nature, are not guarantees of the future operational or financial performance of the Company, and are subject to risks and uncertainties and other factors that could cause the actual results, performance, outlook or opportunities of the Company to differ materially from those expressed or implied by such forward-looking statements. These risks, uncertainties and factors may include, but are not limited to: unavailability of funding, inability to identify commercially viable mineral reserves, fluctuations in the market value of commodities, difficulties in obtaining required approvals for the development of a mining project, increased compliance costs, project funding expectations from joint venture partners and other factors.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release or as of the date otherwise specifically stated herein. Due to the risks and uncertainties, including the risks and uncertainties identified in this press release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the quarter ended September 30, 2021 (the ” MD&A ”), and the most recent Annual Information Form (“ Annual Information Form ”) filed for the fiscal year ended December 31, 2020, actual events may differ materially from current expectations. Further information on the Company, including the MD&A, Annual Information Form and financial statements of the Company, is available on SEDAR at www.sedar.com and on the SEC’s EDGAR website at ‘address www.sec.gov.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/108010