Anatolia Minerals records favorable drill results in eastern Turkey
A recently completed 20-hole diamond-bit core drill program at the Anatolia Minerals Development’s Rio Tinto Copler project in eastern Turkey further defined gold mineralization previously reported at 3.6 million ounces of gold inferred resource.
Sixteen holes had one meter of one gram of gold per ton mineralization, ranging from 1.3 meters of 4.0 grams gold per ton in CDD-32 to 172 meters of 2.6 grams gold per ton in CDD-24. Two of the other four holes cut tens of meters at half a gram gold per ton.
Porphyry-style, copper- gold mineralization was intersected in deeper portions of several holes and the last hole, CDD-35, cut a 23-meter thick zone averaging 4.25 percent copper and 2.1 grams gold per ton in 19.4 meters assayed, plus 3.5 meters of voids from ancient workings.
Holes CDD-24, -25, -26 and -35 were successful step-outs to extend Main Zone mineralization to the northeast, beyond the area of the resource estimate previously reported.
From 0 to 172 meters total depth, CDD-24 averaged 2.6 grams gold per ton, including the top 17.5 meters of oxide at 8.7 grams gold per tonne, 19 meters of low-grade interburden and bottoming in 12 meters of 5.3 grams gold per ton.
CDD-25, dipping 60 degrees due east from the site of CDD-24, averaged 2.9 grams gold per ton from 0 to 92 meters, the upper 31 meters of oxide averaging 5.6 grams of gold per ton, and the bottom 29 meters of the hole ran 0.5 grams.
Anatolia Minerals currently has an undivided 50 percent interest in the Copler project; with the right to increase to a 67 percent interest by paying its Turkish partner one million dollars in three tranches over six years. Rio Tinto may earn a 65 percent interest in the property, with Anatolia and its Turkish partner sharing the remaining 35 percent proportionately.
In April, 2000, Anatolia Minerals and Rio Tinto formed a four-year strategic alliance to seek base and precious metal deposits in Turkey. To date, Rio Tinto has funded over eight million dollars for JV exploration, with additional funding expected for 2003. Rio Tinto is currently earning into three prospects in Turkey, each requiring expenditures of $10.5 million and payments of $1.5 million for a 65 percent interest. — (menareport.com)
© 2002 Mena Report (www.menareport.com)