VANCOUVER–On drill-hole results from its Grand Bois property in Haiti, Eurasian Minerals (EMX-V) shares jumped nearly 20% or 40¢ to close at $2.50 in early December.
Hole 11, the best of the batch, hit 28 metres grading 20.45 grams gold starting 2 metres down-hole.
Another, hole 9, cut 21 metres grading 10.19 grams gold.
Eurasian collared the holes within the historic resource area in an uncapped oxide zone.
The intercepts were from a 17- hole drilling campaign as part of efforts to confirm and grow Grand Bois’ historic resource estimate. In 1986, a “geological res e r v e” (not compliant with National Instrument 43-101) estimated the project hosted 4.3 million tonnes grading 2.24 grams gold per tonne.
So far, gold mineralization has been defined in what Eurasian calls a poorly consolidated tabular body of oxidized volcanic rock, 300 metres by 350 metres in dimension. Eurasian noted in a statement that as the mineralized area sits atop a hill’s flank, it “would have a favourable stripping ratio for a potential open-pit operation.”
The Grand Bois property is a joint venture between Eurasian and Newmont Mining (NMC-T, NEM-N) which can earn a 65% interest in Grand Bois within six years by either funding the first US$10 million worth of project expenditures or finishing a positive feasibility study.
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