Odyssey Resources has reported that work is progressing well at its two advanced exploration gold projects in Turkey.
At the Tavsan sediment-hosted epithermal gold project located in western Turkey, 3,000 linear meters of trenching has been completed utilizing both mechanical and manual methods; a further 7,000 meters of trenching remains in progress.
The trenches are being mapped simultaneously, with an emphasis on structure, alteration and geology, the three factors that appear to be most important with respect to gold mineralization. Concurrently, permit applications for drill sites already selected on the basis of existing information are being filed in order that drilling may begin as soon as applications are approved. Additional drill site permit applications will be filed based upon the conclusions reached from the current trenching program.
At Altintepe, Odyssey's advanced volcanic-hosted epithermal gold project located on the Black Sea coast in northeastern Turkey, two drill holes have been completed for a total of 460 meters. The holes were drilled 1,000 meters apart through the Karakis gold zone at its southeast and northwest ends, respectively.
A third hole is currently underway from the top of the ridge and 250 metres southeast of the northwest end of the ridge, and is oriented so as to cut through the entire zone from southwest to northeast at a higher elevation and where the zone appears to be wider.
Canada’s Odyssey Resources is focused on the exploration and development of base and precious metal resources across the Mediterranean region. The company invested the net proceeds from a recent private placement financing to advance exploration and development of its projects in Turkey. The placement grossed $1.98 million in proceeds. — (menareport.com)
© 2004 Mena Report (www.menareport.com)
