An Update! - ANATOLIA PROGRAMS CONTINUE THROUGH 4TH QUARTER Follow-up drilling completed at Çöpler gold deposit; key approvals received. Drilling begins at 100%-owned Ikiztepe copper prospect.
November 4, 2004: Anatolia Minerals Development Limited (TSX: ANO.U; "Anatolia") has initiated a drilling program at its wholly-owned Ikiztepe copper-molybdenum porphyry-skarn prospect in northwestern Turkey. Anatolia has also received key approvals, which could lead to open-pit mining of gold and other metals at its 100%-owned Çöpler deposit in east-central Turkey. Anatolia received formal approval from the Turkish Government to convert their license at Çöpler to include open-pit mining of gold, copper, manganese and byproduct metals and completed a 4-hole drill program to fill a gap recognized by oxide resource estimators Hellman & Schofield Pty Ltd. Metallurgical testing of oxides, continuation of baseline environmental studies, project design and facilities siting studies are proceeding. Richard C. Moores, President of Anatolia, stated, “receipt of this approval allows us to advance our program at Çöpler without delay and sets the stage for our next round of development and permitting. Adding the additional drill holes has slightly delayed the new resource estimate, but shouldn’t appreciably affect making a production decision by mid-2005.” Anatolia acquired a 100% interest in Çöpler from Rio Tinto and a Turkish company in January 2004. A 4.2 million ounce inferred gold resource (Watts Griffis and McOuat – March 2003) has been previously announced for Çöpler. Cyanide-leachable tests of material from the oxide zone indicate the leachability of some of the resource, (+80% in the Main and Marble Contact Zones and +90% in the Manganese Mine Zone), estimated at 1.0–1.5 million ounces. Anatolia’s objective is to make a production decision for the near-surface oxides by mid-2005. The Ikiztepe prospect, owned 100% by Anatolia, is located 150 kilometers northwest of Istanbul, 20 to 30 kilometers from the Bulgarian border. Anatolia is drill testing specific targets at Ikiztepe and expects assay results to be available by year’s end. Previous drilling by others indicates the potential presence of a large porphyry copper-molybdenum system and an associated copper-rich skarn. An Anatolia exploration program in 2003 confirmed the presence of a copper/molybdenum porphyry system adjacent to the skarn. The drilling will test both the skarn and the porphyry and aims to confirm exploration work undertaken in the 1970’s. Mr. Moores remarked, “Ikiztepe is a whollyowned project with the potential for both high grades and very large tonnage. It springs from the hard work, knowledge and dedication of our team. Our first hole is presently over 150 meters deep and has been in copper/molybdenum mineralized skarn and porphyry since 20 meters depth. We look forward to receiving assay results.” Anatolia has been engaged in minerals exploration in Turkey since 1996. In January 2004, Anatolia obtained 100% interest in the 4-million ounce inferred gold resource at Çöpler. Anatolia is fasttracking work at Çöpler to achieve an early production decision for an open pit gold operation for the shallow leachable oxide portion of Çöpler. The Company also controls another 1.3 million hectares within Turkey, including three properties currently under joint exploration with Rio Tinto. The Rio Tinto agreement continues through 2007 and requires payment by Rio Tinto of expenditures for grassroots programs, specific prospect costs in which Rio Tinto is participating, and portions of Anatolia’s Turkish field office expenses. |
