Odyssey Resources has reported that diamond drilling on the Kabatash copper-moly-gold prospect in Turkey has intersected porphyry mineralization. The company's 100 percent-owned property is located near the Black Sea coast, several kilometers south of its Altintepe Gold Property.
Initial drill-testing has been completed, near the eastern edge of a large zone of phyllic alteration and a later argillic overprint covering an area approximately 1.5 by two kilometers, within a larger halo of propylitic alteration extending out to an area of 3.5 by five kilometers.
Hole KBD-1 was completed to a depth of 232 meters at an angle of minus 60 degrees and intersected elevated levels of gold and copper consistently throughout the length of the hole with several intercepts hosting molybdenum, as well. Gold levels exceed 100 parts per billion (ppb) for the first 130 meters, reaching a peak of 320 ppb at 155 meters.
Copper values average over 350 ppm for the entire length of the hole, reaching a peak of 2,620 ppm at 150 meters. Molybdenum values are variable, reaching a maximum of 395 ppm at 100 meters down hole.
Mineralization is hosted within altered, stockwork-fractured and veined, porphyritic granodiorite. Alteration minerals include secondary k-feldspar, secondary biotite, sericite, quartz, magnetite, specular hematite, pyrite and anhydrite.
A second hole, KBD-2, collared 500 meters to the south and close to the outer edge of the zone of phyllic alteration, intersected 100 meters of propylitic-altered granodiorite characterized by an assemblage of epidote and chlorite, without penetrating zones of phyllic- or potassic-altered rocks. KBD-2 was terminated at a depth of 106.5 meters.
Odyssey is very encouraged with the results of this preliminary drill-testing program, which confirms that the Kabatash prospect is a large, classically-altered porphyry system host to significant gold, copper, and molybdenum mineralization. Based upon these positive results, further drilling is planned particularly toward the immediate west, where a very large limonite-hematite-pyrite gossan is found capping an entire hillside. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
