Anatolia Cuts More Gold at Copler
2/8/05
January 2005 Update: First hole cuts 69 meter oxides @ 3.9 gams gold per tonne in 2 zones, including 38 meters averaging 6.1 grams gold per tonne, plus good grade sulfides.
In mid-January 2005, Anatolia Minerals Development Limited (TSX:ANO) ("Anatolia") initiated a 25,000-meter drilling program at its wholly-owned Copler Gold prospect in Turkey. Anatolia has two diamond drills and two reverse circulation drills on site. This program aims to expand the current 4-million-ounce resource, and to infill the Marble Contact and Manganese Mine oxide zones and condemnation drill the planned facilities sites. Drilling is expected to run through mid-2005.
Results are to be updated at least monthly, include a map as attached to this news release and posted to Anatolia's web site (www.anatolia-minerals.com).
By January 31, the program had completed 9 holes aggregating 1,916 meters. Preliminary assays have been received for two of these holes.
Hole CRC-249 assayed 4.3 grams per tonne gold (gpt) in oxides from 56 to
113 meters depth (75 to 113 meters @ 6.1 gpt); 113 to 119 meters @ 5.5
gpt sulfides, and 163 to 175 meters assaying 1.9 gpt oxides. CRC-250 cut 60+ meters of low-grade gold mineralization averaging just under 1/2 gpt in several zones between 40 and 188 meters depth.
Richard C. Moores, President of Anatolia, stated, "We are very pleased by the surprisingly good results of the first hole in this series, CRC-249, drilled on the north rim of the currently outlined Manganese Mine pit, part of an undrilled section between the east and west lobes of the planned pit. This area was not included in our recent oxide resource update and has positive implications for increasing and upgrading the current Manganese Mine resource. Even our second hole, CRC-250, drilled near a possible site for the plant facilities, some 100 meters northeast of CRC-249 intersected 60+ meters of potentially heap-leachable, low-grade gold, but did not reach the high grade contact zone seen in CRC-249. Additional holes east, west and south of CRC-249 are planned and should add to our current resource base."
Concurrently, Anatolia is advancing the feasibility study for the oxide portion of the resource. In December 2004, Anatolia announced the results of a study by Hellman & Schofield Pty Ltd that demonstrate a 0.4 million measured and indicated ounce oxide gold resource plus a 1.1 million ounce inferred oxide gold resource. Metallurgical tests of material from the oxide zone indicate the leachability of the resource (+80% in the Main and Marble Contact Zones and +90% in the Manganese Mine Zone). Additional metallurgical testing of oxides, continuation of baseline environmental studies, project design and facilities siting studies are proceeding as planned. Anatolia expects to complete the feasibility study and make a production decision later this year.
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 Copler. Anatolia is fast-tracking work at Copler to achieve an early production decision for an open pit gold operation for the shallow leachable oxide portion of Copler. The Company also controls approximately 1.1 million hectares within Turkey, including four 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.
Anatolia currently has 48.8 million common shares issued and outstanding, 57.1 million fully diluted.
Anatolia trades on the Toronto Stock Exchange in US dollars as ANO.U.
This news release may contain forward-looking statements in respect of
various matters including upcoming work programs and events. The results or events predicted in these forward-looking statements may differ materially from actual results or events. Anatolia disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Assays are performed by OMAC Laboratories, Ireland, and ALS-Chemex, Vancouver, BC,
Canada, with quality control of sampling, preparation and assaying overseen by Anatolia, whose President, Richard C. Moores, is a "qualified person" for the purposes of applicable Canadian securities regulations.
To view a map of the Copler Mn-Mine Area please click on the following link:
www2.ccnmatthews.com
TSX closing price for ANO
Date: 2005/02/07
Closing Price: 1.500
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(c)2005 Market News Publishing Inc. All rights reserved.
Toronto:(416)366-8881 Vancouver:(604)689-1101 Fax:(604)689-1106
CONTACT: FOR FURTHER INFORMATION PLEASE CONTACT:
Anatolia Minerals Development Limited
Richard C. Moores
President
(303) 670-9945
(303) 670-9947 (FAX)
or
Anatolia Minerals Development Limited
Douglas Tobler
Chief Financial Officer
(303) 292-1299
(303) 297-0538 (FAX)
www.anatolia-minerals.com |
