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Anatolia to drill four Turkish properties
Anatolia Minerals Development Limited YMC.U
Shares issued 21,456,201 2000-11-01 close $0.26
Thursday Nov 2 2000 News Release
Mr. George Duggan reports
Anatolia Minerals Development and Rio Tinto have planned a combined 3,000 metres of drilling for the Cukerdere and Kabatas copper/gold porphyry prospects in eastern Turkey. The two properties are about 15 kilometres apart and are two of a cluster of mineral occurrences in the area.
At Kabatas, drilling will test part of the core and leached cap of a porphyry copper/gold system. The area to be tested is within a one-kilometre by 1.5-kilometre copper anomaly and partially overlies a strong induced polarization anomaly. Drilling at Cukerdere will test the central portion of a one-kilometre by two-kilometre depression formed by erosion of altered intrusive and skarn where 1,090 metres of channel sampling in three traverses returned an average 1.5 grams per tonne Au and 0.10 per cent copper.
Approximately 1,000 metres of scout drilling at Uckapili in south-central Turkey will attempt to find the bedrock source of a two-kilometre by 2.5-kilometre soil grid gold geochem anomaly. Several thousand metres of follow-up trenching revealed deeper than expected overburden, but also more than 20 locations from which visible gold was observed, mostly in float boulders.
Approximately 1,000 metres of scout drilling at the Karacam nickel laterite prospect in central Turkey will test the potential for a sizable resource of nickel and related metals. This new project area is a result of AMDL's continuing grassroots exploration program, one of many undergoing active review.
Earlier this year, AMDL and Rio Tinto formed a four-year agreement to seek base and precious metal deposits in Turkey. AMDL has received $2.85-million (U.S.) of financing for this year's programs and the multiyear support of Rio Tinto. Rio Tinto is currently earning into the Uckapili Gold, the Kabatas copper/gold and the Cukerdere copper/gold prospects elsewhere in Turkey ($10.5-million (U.S.) for 70 per cent, each). Subsequently, AMDL co-opted the Yahyali zinc property to Cominco. As a result, AMDL is teamed up with two of the premiere mining companies in the world and has greatly improved its ability to explore and advance its portfolio of exciting projects.
Drill results from the various programs are anticipated to be available in early 2001. |
