Eurasian Minerals (EMX-T) is entering into a four-year regional exploration joint venture with Barrick Gold (ABX-T) covering existing Eurasion Minerals’ properties plus possible acquisitions in Turkey.
Eurasion holds 64 exploration licenses covering 1,724 sq. km in the country.
As part of the agreement, EMX will be operator while Barrick will fund $2 million in total in the regional exploration program over four years, with not less than $500,000 spent in the first year.
Barrick has agreed to buy 1 million units from Eurasian for C$1.25 per unit. Each unit consists of one Eurasian share and one warrant, with each warrant allowing the purchase of another share for C$2 within two years.
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