Tuesday 4th June 2024
EMEX Exploration LLC., through its wholly owned subsidiary Ekometall Exploration GmbH. (‘EMEX’, or ‘the company’), is pleased to announce the initiation of field work across several newly acquired properties, several significant changes to its operating structure, and also the results of an internal quality assurance and quality control (QAQC) review.
1. Licence Acquisitions
Following 3 applications submitted in April 2024, EMEX have received approval from the Montanbehorde (Mining Authority) in Austria for 375 exclusive, 5-year Schürfberechtigungen (exploration permits), expanding its total Base & Precious metal exploration area to 1042 Schürfberechtigungen, covering >500km2 across 5 highly prospective licence areas.
Trattenbach
This new Cu-Au property straddles the borders of Niederösterreich & Steiermark in Eastern Austria. The key targets are just a 1-hour drive from Vienna, with regular bus and train services into nearby Semmering. Well maintained and active forestry roads throughout the project provide easy 4×4 access.
Historic reports refer to grab samples of high-grade Cu & Au mineralisation, including up to 22g/t of Au* in Fe-Carbonate alteration zones. Several academic studies in the 1990s failed to confirm or explain these historic results, but the region has never seen a modern, systematic exploration program. We believe that our team can systematically survey and rediscover these historic targets. Initial scouting visits were completed in May 2024 and have already identified varied alteration zones and multiple Fe-Carbonate vein systems. EMEX plans to continue ‘greenfield’ stage surveying and mapping of the property throughout this summer, and provide a detailed prospectivity report by October 2024.
*(unverified data, grades sourced from historic literature)
Panzendorf II
Following prospecting work in 2023 and ongoing historic literature review, EMEX’s team have hypothesized that it’s 2021 licenced ‘Panzendorf’ project, including the historic mines of Tessenberg, Panzendorf & Villgraten, could form part of a much larger regional VMS system related to the ‘Peri-Adriatic Seam’, a regional scale tectonic collision zone which runs E-W through this new extended property area.
Our geo team are in the field now and nearing completion of ‘phase 1’ surveys within the original licence area to sample and model historic mines and their Zn-Cu-Pb-Au deposits into 3D, and prepare them for geophysical surveys and drilling. Field work will continue this summer across the extended area, to test our ‘regional’ hypothesis on the scale of this VMS system, followed by a regional geophysical survey.
2. Corporate Restructure
EMEX as an entity has evolved into its second generation, with the 100% purchase of Ekometall Exploration GmbH. (Austria) from Ekometall Group Ltd. (UK), by EMEX Exploration LLC. (USA). Shareholders of Ekometall Group Ltd. (UK) were offered a well-priced share conversion between the entities, and we thank all shareholders for their support during this process.
EMEX Exploration LLC. (USA) have committed to funding and supporting the continued development of Ekometall Exploration GmbH. (Austria) and its copper properties into the future. Ekometall Group Ltd. (UK) is set to be dissolved following this transaction.
Following this transaction, we are happy to announce the appointment of Ryan Finlay as CEO of EMEX Exploration LLC. At Ekometall Exploration GmbH. in Austria, Severina Ditzov will continue in the position of Geschäftsführerin Unternehmensentwicklung (Director of Corporate Development) and Liam Hardy will move to the position of Geschäftsführer Explorationstätigkeiten (Director of Mineral Exploration).
3. QAQC and Data Management Review
Following recent news from a publicly listed company in Ontario, Canada, EMEX have deemed it necessary to conduct a review of its own data quality assurance and quality control (QAQC) procedures to protect our investors, and ensure there is no potential or possibility of similar data mismanagement inside our company. Following this internal review, we are confident there is next-to no potential for reporting fraud within our company and our data is as reliable and secure as it possibly can be. Some amount of risk and the possibility of unintentional human error will always exist, but we will continually review our practices and keep up to date with technical reporting standards, to ensure we are operating above and beyond regular industry levels to provide the most accurate data possible to investors.
Notes from the Ontario Case
- It is alledged that a company‘s CEO manually altered gold assay results for >500 laboratory certified analyses, before forwarding them to the company’s geologists.
- It is alledged that the company’s QP did not suitably review the original data and signed off the falsified results.
- It is alledged that falsified results were perpetuated into databases by team geologists and external consultants to create reported resource models, which were subesequently released to the public market and used to raise funds.
- If true, this amounts to a calculated and intentional defrauding of investors.
How EMEX Prevents & Avoids Reporting Fraud
It is remarkably easy to not commit fraud. All of the tools, verifications and practices required to avoid reporting errors are widely accepted by professional geologists and available ‘off the shelf’. Even as a private company with no legal reporting requirements, we utilise a range of QAQC protocols to ensure our data is valid and viable.
- Our technical data is stored using a reputable mainstream cloud service, which requires a company monitored log-
in to access. It records all changes to all stored documents and backs up original copies of all documents. Any alterations are recorded and traceable back to the logged-in user and time. Our whole team has access to the same records and data so changes and errors are obvious. - Our certified laboratory is (currently) ALS Romania. ALS Romania provide our QP and geologists direct, independent access to download and view all original data via it’s ‘webtrieve’ online platform, this can only be updated by ALS. All changes by ALS staff are tracked in detail by their system, and are visible on both ends to all users. ALS have no possible incentive or motive to doctor results and have their own internal controls against this.
- Rowan Thorne MSc MIMMM FGS, our Qualified Person (QP), is an independent professional geologist who does not own shares in, nor receive performance based bonuses for EMEX‘s results, so will not sign off nonsense and has no incentive to do so.
- We encourage our team to regularly engage with and discuss all data and QAQC practices with our QP and report
any concerns directly, in confidence, without judgement, to update the company’s practices, or for investigation. - We aim to take large samples for representative analyses, duplicate our samples in the field, and store all laboratory rejects and pulps securely. Our QP may independently request to view the sample library, and order a resampling in the field, or resubmission of samples to an alternate laboratory of their choice, using new sample codes, procedures or methodology, at any time, to confirm results are accurate.
- While time-consuming, we analyse all samples (rock, stream and soil) by PXRF on-site before submission to ALS. This gives us 2 independent references for most ‘trace element’ ratios/data in our samples, which contain natural patterns that would be near-impossible to falsify under the watch of skilled geochemists and our QP.
- Access to PXRF equipment on-site allows our geo team to quickly verify any questionable data they come across and take steps to verify any unreliable sample results by resampling outcrops in the field, or sending for reanalysis.
- Our SOPs, data policies and technical dataroom are well maintained and available to view for our investors on request, following the signing of a basic NDA.
- We warmly welcome and support site-visits by investors and interested parties who may wish to verify any claims made by the company independently for their due dilligence.
Want to Hear More?
We thank you for your interest in EMEX and look forward to providing our investors and stakeholders with regular updates and results throughout the year.
Our team are always available to speak should you have any questions regarding this news release, or any of EMEX’s activities.
To speak with us in German or English, please email: Servus@emexploration.at
