EMX Highlights an Updated MRE and Other Advancements at the Diablillos Silver-Gold Royalty Property in Argentina
EMX Royalty Corporation (NYSE American: EMX) reports significant advancements at its Diablillos silver-gold royalty property in Argentina. The updated mineral resource estimate shows a 34% increase in silver resources to 199 million ounces and a 27% increase in gold resources to 1.72 million ounces in the measured and indicated categories.
The project now includes both tank leach and heap leach resources, with total oxide measured and indicated resources of 104 Mtonnes averaging 59 g/t silver and 0.51 g/t gold. The December 2024 PFS outlined a 14-year mine life with annual production of 7.6 Moz silver and 72 Koz gold, projecting an NPV(5) of US$747 million and 28% IRR.
EMX holds a 1% NSR royalty on the project, with AbraSilver expecting EIA approval in late 2025 and a definitive feasibility study in Q1 2026.
EMX Royalty Corporation (NYSE American: EMX) comunica progressi significativi nella sua royalty sul giacimento di argento-oro Diablillos in Argentina. La stima aggiornata delle risorse mostra un aumento del 34% delle risorse di argento a 199 milioni di once e un incremento del 27% delle risorse d'oro a 1,72 milioni di once nelle categorie misurate e indicate.
Il progetto comprende ora risorse sia per lisciviazione in vasche che per lisciviazione a cumulo, con risorse ossidate misurate e indicate totali pari a 104 milioni di tonnellate con una media di 59 g/t di argento e 0,51 g/t di oro. Lo studio di fattibilità preliminare di dicembre 2024 ha previsto una vita della miniera di 14 anni con una produzione annua di 7,6 Moz di argento e 72 Koz di oro, con un VPN(5) previsto di 747 milioni di USD e un TIR del 28%.
EMX detiene una royalty NSR dell'1% sul progetto; AbraSilver prevede l'approvazione dell'EIA entro la fine del 2025 e uno studio di fattibilità definitivo nel primo trimestre del 2026.
EMX Royalty Corporation (NYSE American: EMX) informa avances importantes en su propiedad con regalía de plata y oro Diablillos en Argentina. La actualización de la estimación de recursos muestra un aumento del 34% en recursos de plata hasta 199 millones de onzas y un incremento del 27% en recursos de oro hasta 1,72 millones de onzas en las categorías medidas e indicadas.
El proyecto incluye ahora recursos tanto para lixiviación en tanques como para lixiviación en pilas, con recursos oxidados medidos e indicados totales de 104 Mt con un promedio de 59 g/t de plata y 0,51 g/t de oro. El estudio de factibilidad preliminar de diciembre de 2024 describió una vida útil de la mina de 14 años con una producción anual de 7,6 Moz de plata y 72 Koz de oro, proyectando un VPN(5) de 747 millones de USD y una TIR del 28%.
EMX posee una regalía NSR del 1% sobre el proyecto; AbraSilver espera la aprobación del EIA a finales de 2025 y el estudio de factibilidad definitivo en el primer trimestre de 2026.
EMX Royalty Corporation (NYSE American: EMX)는 아르헨티나 디아블리요스 은·금 로열티 자산에서 중요한 진전을 보고했습니다. 갱신된 자원 추정치는 측정 및 표시 등급에서 은 자원이 34% 증가하여 1억 9,900만 온스, 금 자원이 27% 증가하여 172만 온스로 나타났습니다.
이 프로젝트는 탱크 침출과 힙 침출 자원을 모두 포함하며, 총 산화층 측정 및 표시 자원은 1억 400만 톤, 평균 은 59 g/t 및 금 0.51 g/t입니다. 2024년 12월 예비 타당성 조사에서는 광산 수명이 14년, 연간 생산량은 은 760만 온스 및 금 7.2만 온스로 보고되었고, 순현재가치(할인율 5%)는 미화 7억 4,700만 달러, 내부수익률은 28%로 전망되었습니다.
EMX는 해당 프로젝트에 대해 1% NSR 로열티를 보유하고 있으며, AbraSilver는 2025년 말 EIA 승인과 2026년 1분기 확정 타당성 조사 완료를 기대하고 있습니다.
EMX Royalty Corporation (NYSE American: EMX) annonce des progrès significatifs sur sa redevance du gisement argent-or Diablillos en Argentine. L'estimation des ressources mise à jour montre une hausse de 34% des ressources en argent à 199 millions d'onces et une augmentation de 27% des ressources en or à 1,72 million d'onces dans les catégories mesurées et indiquées.
Le projet comprend désormais des ressources pour lixiviation en cuve et en tas, avec des ressources oxydées mesurées et indiquées totales de 104 Mtonnes à une moyenne de 59 g/t argent et 0,51 g/t or. L'étude de préfaisabilité de décembre 2024 a décrit une durée de vie de la mine de 14 ans avec une production annuelle de 7,6 Moz d'argent et 72 Koz d'or, projetant une VAN(5) de 747 M$ US et un TRI de 28%.
EMX détient une redevance NSR de 1% sur le projet ; AbraSilver prévoit l'approbation de l'EIA fin 2025 et une étude de faisabilité définitive au T1 2026.
EMX Royalty Corporation (NYSE American: EMX) meldet wesentliche Fortschritte bei seiner Silber-Gold-Royalty am Diablillos-Projekt in Argentinien. Die aktualisierte Ressourcen-Schätzung zeigt einen Anstieg der Silberressourcen um 34% auf 199 Mio. Unzen und einen Zuwachs der Goldressourcen um 27% auf 1,72 Mio. Unzen in den Kategorien gemessen und angezeigt.
Das Projekt umfasst nun sowohl Tank-Laugungs- als auch Heap-Laugungs-Ressourcen, mit insgesamt 104 Mio. Tonnen oxidierter gemessener und angezeigter Ressourcen mit durchschnittlich 59 g/t Silber und 0,51 g/t Gold. Die vorläufige Machbarkeitsstudie (Dezember 2024) skizzierte eine 14-jährige Bergbaulaufzeit mit einer jährlichen Produktion von 7,6 Moz Silber und 72 Koz Gold und prognostizierte einen NPV(5) von 747 Mio. USD sowie eine IRR von 28%.
EMX hält eine 1% NSR-Royalty auf das Projekt; AbraSilver rechnet mit der EIA-Zulassung Ende 2025 und einer definitiven Machbarkeitsstudie im 1. Quartal 2026.
- 34% increase in silver resources to 199M oz and 27% increase in gold resources to 1.72M oz
- Strong NPV(5) of US$747M with 28% IRR and 2-year payback period
- First 5 years production averaging 11.7M oz silver and 59K oz gold annually
- Addition of heap leach resources potentially reducing strip ratio and enhancing economics
- Project eligible for Argentina's RIGI incentives including lower tax rates and elimination of export duties
- Investment decision required by Q2 2027 to qualify for RIGI benefits
- EIA approval still pending for latter half of 2025
Insights
EMX's 1% royalty on Diablillos gains substantial value with 34% silver and 27% gold resource increases and advancing feasibility work.
The updated mineral resource estimate at Diablillos represents a significant enhancement to EMX's royalty portfolio. The property now boasts 199 million ounces of silver and 1.72 million ounces of gold in measured and indicated categories—increases of
The introduction of heap leach processing options alongside the traditional tank leach method marks a pivotal advancement. This dual-processing approach converts previously classified waste material into economically viable resources, potentially reducing strip ratios and enhancing project economics. This is particularly valuable for a royalty holder as it expands the ore body without proportionately increasing costs, effectively raising the net value of each royalty percentage point.
AbraSilver's previous PFS outlined an average annual production of 7.6 million ounces of silver and 72,000 ounces of gold over a 14-year mine life. For EMX, this would translate to approximately 76,000 ounces of silver and 720 ounces of gold annually flowing to their
The project's advancement toward production is progressing systematically, with environmental approval expected in late 2025 and a definitive feasibility study in Q1 2026. For EMX shareholders, the timeline suggests potential royalty income could begin within approximately 3-4 years, assuming typical construction timeframes following the DFS completion.
The ongoing 20,000-meter exploration program further enhances EMX's royalty position, as any additional discoveries will fall under their royalty coverage, offering organic growth potential without additional investment from EMX. The eligibility for Argentina's Incentive Regime for Large Investments could further enhance project economics, indirectly benefiting EMX through potentially accelerated development and improved project economics.
Vancouver, British Columbia--(Newsfile Corp. - August 20, 2025) - EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (the "Company" or "EMX") congratulates AbraSilver Resource Corp. ("AbraSilver") on its recent updated Diablillos mineral resource estimate ("MRE") that increased total open pit constrained, oxide mineral resources to 199 million ounces of contained silver (+
The updated Diablillos MRE reports tank leach resources, which previously was the sole metallurgical processing assumption for the Project, as well as contributions from a maiden heap leach MRE. The additional heap leach resources represent a milestone advancement in converting near surface and peripheral lower grade "waste" material within the constraining open pit configuration to mineralization potentially recoverable via a low-cost processing route. AbraSilver reported total (i.e., tank and heap leach) oxide MI resources as 104 Mtonnes averaging 59 g/t silver and 0.51 g/t gold. The tank leach MI resources account for approximately
There were significant MI increases across all five resource deposits (i.e., Oculto, JAC, Fantasma, Laderas and Sombra) (see Figure 1 reference map), with the largest tonnage and contained metal increases driven by the JAC deposit, which is characterized by high-grade, near-surface silver-gold mineralization, as well as the Oculto deposit. The Sombra deposit, a recent discovery immediately south of Oculto and JAC, represents a first-time addition to the Project MRE totals.
There is significant district scale exploration upside at Diablillos with an ongoing Phase V 20,000 meter drill program scheduled for completion by early 2026. This program includes step-out drilling at Oculto East, JAC, and Sombra, as well as exploration drilling at the Cerro Viejo and Cerro Blanco porphyry targets.
EMX congratulates AbraSilver for its success in rapidly building value at the Diablillos royalty property. In addition to the significant increases in silver-gold mineral resources via drilling and metallurgical advancements, AbraSilver is currently evaluating other initiatives to further enhance project economics as inputs to the H1 2026 DFS (e.g., connecting to national grid for power, upgrading the fleet size, outsourcing waste movement, and optimizing TSF design to co-locate waste with tailings).3 Moreover, Diablillos is eligible for Argentina's Incentive Regime for Large Investments (i.e., RIGI), which includes lower tax rates, elimination of export duties, and accelerated depreciation; an investment decision by Q2 2027 is required to fully qualify. Clearly, AbraSilver is on a fast track in advancing Diablillos to a production decision, and thereby unlocking the value of EMX's royalty interest.
Comments on the Updated MRE. The updated Diablillos MRE reports total (i.e., tank and heap leach) measured resources of 33,218 Ktonnes @ 98 g/t Ag (105,050 Koz contained) and 0.59 g/t Au (634 Koz contained) and indicated resources of 70,686 Ktonnes @ 41 g/t Ag (93,593 Koz contained) and 0.48 g/t Au (1,081 Koz contained). In addition, the updated MRE includes total inferred resources of 19,628 Ktonnes @ 21 g/t Ag (13,427 Koz contained) and 0.38 g/t Au (241 Koz contained).
Comments on the December 2024 PFS. AbraSilver’s PFS study updated in December 2024 outlined an average 14 year life of mine with annual production of 7.6 Moz of silver and 72 Koz of gold yielding an NPV(5) of US
About the Diablillos Silver-Gold Royalty Property. Diablillos is a high sulfidation silver-gold project located in the Puna region of Salta Province, Argentina. There are multiple mineralized zones in a district scale area covered by EMX's uncapped
Michael P. Sheehan, 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 news release.
About EMX. EMX is a precious and base metals royalty company. EMX's investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company's common shares are listed on the NYSE American Exchange and TSX Venture Exchange under the symbol "EMX". Please see www.EMXroyalty.com for more information.
For further information contact:
| David M. Cole | Stefan Wenger | Isabel Belger |
| President and CEO | Chief Financial Officer | Investor Relations |
| Phone: (303) 973-8585 | Phone: (303) 973-8585 | Phone: +49 178 4909039 |
| Dave@EMXroyalty.com | SWenger@EMXroyalty.com | IBelger@EMXroyalty.com |
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
Forward-Looking Statements
This news release may contain "forward looking statements" that reflect the Company's current expectations and projections about its future results. These forward-looking statements may include statements regarding perceived merit of properties, exploration results and budgets, mineral reserves and resource estimates, work programs, capital expenditures, timelines, strategic plans, market prices for precious and base metal, or other statements that are not statements of fact. When used in this news 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 Company's future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company's actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by 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 news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company's MD&A for the quarter June 30, 2025 (the "MD&A"), and the most recently filed Annual Information Form ("AIF") for the year ended December 31, 2024, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedarplus.ca and on the SEC's EDGAR website at www.sec.gov.
Figure 1. Diablillos Project Plan View of Mineral Resource Estimate (taken from Figure 2, AbraSilver news release dated July 29, 2025).
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Appendix 1
Notes on Current Diablillos Mineral Resource Estimate
(taken from AbraSilver news release dated July 29, 2025)
Table 1 - Total Diablillos Mineral Resource Summary (Tank & Heap Leach) - As of July 21, 2025.
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Tank Leach MRE Footnotes
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Heap Leach MRE Footnotes
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Previous Diablillos Mineral Resource Estimate
(taken from AbraSilver news release dated November 27, 2023)
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1 See AbraSilver news release dated July 29, 2025 and Appendix 1 of this news release
2 Increases referenced to the November 2023 MRE
3 See AbraSilver "August 2025" Corporate Presentation
4 See AbraSilver news release dated December 3, 2024
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FAQ
What is the new resource estimate for EMX's Diablillos silver-gold project?
What is EMX's royalty percentage on the Diablillos project?
What are the projected economics for the Diablillos project according to the PFS?
When is the Diablillos project expected to receive EIA approval?
What is the expected annual production at Diablillos?
What are the new processing methods included in the updated resource estimate?
