The first of two holes has been initiated at the Kizilviran copper/gold porphyry prospect within the Tunceli area being jointly explored by Anatolia Minerals Development Limited and Rio Tinto Mining and Exploration Limited.
The Kizilviran prospect contains several square kilometers of porphyry-style alteration, with widespread copper and gold mineralization (up to 3.7 percent copper and +1 gram gold per ton) and large, strong, geophysical anomalies, according to a company press release.
Secondary chalcocite has been observed in outcrop over a wide area below a leached cap in stream bottoms and road cuts, indicating the presence of a copper-enriched chalcocite blanket.
The first diamond core drill hole was collared in leached cap on June 18, 2003. Disseminated and stockwork chalcocite, covellite, bornite, chalcopyrite and pyrite were intersected at 13.5 meters. Enriched copper mineralization continued to 68.5 meters, where the hole stepped across a fault into primary copper mineralization.
Primary mineralization, mainly disseminated and veinlet chalcopyrite, pyrite and molybdenite, seems to be intensifying down to the current 162 meter depth. Target depth is 300 meters, to test a high chargeability zone (I.P. survey) underlying the leached, phyllic-zone cap.
Following completion of the first two scout holes at Kizilviran, the drill rig will be moved 20 kilometers southeast to drill two scout holes at the Sin copper/gold porphyry prospect, also within the Tunceli JV area. Additional prospective areas between Sin and Kizilviran are still in the initial stages of exploration. Initial assays from Kizilviran should be available in five to six weeks.
"This is a very exciting, copper-gold porphyry prospect, with all the earmarks of a large, good grade copper-gold deposit," according to Richard Moores, Anatolia's president. "Geochemical sampling shows a kilometers-square copper anomaly, with very encouraging gold values, all within an envelope of porphyry-style alteration.”
“Our first hole is cutting very good looking copper mineralization and we look forward to our assays. If the deposit is as good as it seems, it could be easily developed, with necessary infrastructure available on site or near by."
In April, 2000, Anatolia and Rio Tinto Mining and Exploration 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 in 2003.
Rio Tinto is currently earning into three prospects in Turkey, each requiring expenditure of $10.5 million and payment of $1.5 million for a 65 percent interest. Assays are performed by OMAC Laboratories, Ireland, with quality control of sampling, preparation and assaying overseen jointly by Rio Tinto and Anatolia.
Anatolia has 30.9 million shares issued and outstanding, 38.6 million fully diluted. Anatolia trades on the TSX Venture Exchange, and Rio Tinto plc trades on the London and Australian Stock Exchanges and on the New York Stock Exchange. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
