Hope I'm forwarding this OK ---------------------
Following is NRI Fax Alert, issued for market hours on Thursday, 29 November
2001.
COMPANY-SPONSORED INVESTOR RELATIONS REPORT
Fax Alert #16, Vol. 2001
NATURAL RESOURCE INVESTOR
& WORLD GOLD STOCK REPORT
Anatolia Minerals Development Ltd. (CDNX: YMC.U)
"Your Key to Emerging Winners"
Fax Hotline for Market Hours 11/29/01
ANATOLIA/RIO TINTO JV ACCELERATES DRILLING AT CUKURDERE;
19 NEW DRILL HOLES TO BE COMPLETED BY YEAR-END,
SEEKING TO DEFINE RIO-TINTO-SIZE GOLD RESOURCE.
Emphasis is on further testing of 600m x 800m "Marble Zone," where recent
drilling results returned values up to an outstanding 10.4 g/t (1/3 oz./t)
gold over an 80-meter (262 ft.) interval. Company awaits early results.
Anatolia Minerals Development Ltd. (CDNX: YMC.U) and its joint-venture
partner Rio Tinto Mining (RTZ) have encountered significant discovery
success at the company’s big (3 km x 1.7 km) Cukurdere Gold Project in
eastern Turkey.
Results from an initial 33-hole exploration drilling program in 2001 have so
far outlined two highly mineralized gold zones the roughly kidney-shaped
300m x 600m Central Zone, and an adjoining rectangular 600m x 800m Marble
Zone to the east (see Diagram, p. 3). Three additional highly prospective
zones at the west and south areas of the Project remain to be tested.
While exploration of the Cukurdere is still at an early stage, the thickness
and grade of many of the mineralized intervals reported to date over large
areas have fired the imaginations of mining professionals. (See Table and
Diagram.)
The results of the initial 33-hole program have been so attractive that Rio
Tinto and Anatolia are now quickly following up with an additional 19-hole
program scheduled for completion before year-end.
Drilling, sampling and geology to date indicate the presence of a large zone
of gold mineralization. Highlights of the earlier drilling results include
the following:
Marble Zone:
* At the southwestern end of this large zone, reverse-circulation hole
CRC-1A (see RCD-1/1A on Table and Diagram) returned one of the best
intervals of gold mineralization cut in recent years, intersecting 80 meters
(about 262 feet) of 10.4 grams/ton (1/3 oz. gold per ton), starting at a
depth of 10 meters. (‘RCD’ refers to Reverse-Circulation Drill Hole.)
* CRC-1A was drilled as a twin to CRC-1, which returned 35.7 meters grading
6.9 g/t gold (including 7.7 meters averaging 22.3 g/t gold) but was broken
off at a depth of 50.7 meters in material running 34.4 g/t (1.1 ounces/ton)
gold.
* At the northeast end of the Marble Zone (see Diagram), RCD hole CRC-13
returned 3.8 g/t gold over a 24 meter interval from surface, and 2.5 g/t
gold over 59 meters, from a depth of 92 meters. RCD hole CRC-15 yielded a
63.5 meter interval of 4.29 g/t gold and 96 g/t (3 oz./ton) silver from 125
meters.
Central Zone:
* Diamond-drill hole 1 (CDD-1, see Table and Diagram) cut 82 meters of 1.61
g/t gold and 9.99 g/t silver from surface, and 6 meters of 4.64 g/t gold and
7.9 g/t silver from 133 meters.
* Hole CDD-2 intersected 37.4 meters of 1.48 g/t gold and 2.7 g/t silver
from surface, and 60 meters of 1.78 g/t gold and 11.2 g/t silver from 59
meters.
* Hole CDD-5 cut 2.67 g/t gold over 13 meters from a depth of 58 meters.
* Hole CDD-7 returned a 61-meter interval of 2.1 g/t gold and 9.0 g/t silver
from a depth of 100 meters.
* RCD Hole CRC-4 returned 68 meters of material grading 2.0 g/t gold from a
depth of 44 meters.
* RCD Hole CRC 5 yielded 28 meters from surface of gold grading 2.3 g/t, and
a 100 meter interval from 48 meter depth grading 2.3 g/t gold.
* RCD Hole CRC-6 cut a 53-meter interval of 2.7 g/t gold and 17.3 g/t silver
from surface.
Accelerated Follow-up Program at Cukurdere
Under the terms of the Cukurdere j-v, RTZ can earn a 65% interest in the
project by spending $US 10-million over 5 years (and also then paying
Anatolia an additional $US 1.5-million on achieving the earn-in). In
conjunction with an agreement with the underlying license holder, in the
event Rio Tinto earns in, Anatolia will end up with a 23%-25% interest, or a
carried 4% net proceeds interest, at Anatolia’s option.
RTZ has committed to fund a four-year, $US 1.75-million program of
grassroots exploration on 1.3-million hectares (5,000 sq. miles) of Anatolia
properties in Turkey, and to set up separate j-v’s with the company on
promising targets following the $10.5 million earn-in formula for each.
Right now, including Cukurdere, Anatolia and RTZ have three such co-ventured
projects on the company’s properties.
At this point, Anatolia’s management estimates that RTZ expenditures at
Cukurdere will approach $US 3-million for the year. As mentioned above, the
early results at Cukurdere have been so exciting that RTZ also quickly
elected to accelerate the 2001 Cukurdere drill program exploration budget,
first by $US 500,000, then by a total of $US 650,000, so as to obtain
considerable additional drilling results at the project before year-end. As
a follow-up to the 33-hole program completed some months ago, RTZ and
Anatolia scheduled 19 new RCD and diamond-drill holes in key areas. These
are now nearing completion, and starting results are expected in the near
future.
The focus of the accelerated new year-end program at Cukurdere is to obtain
more definitions of the continuity and depth of prevailing gold
mineralization at the Marble Zone; but also, for the first time, to begin
testing the highly attractive westerly prospective zones of the Project.
(See Diagram key, p. 3, for location of 19 new holes being drilled.)
A total of 13 new RCD and diamond-drill holes are focused on the Marble
Zone. Seven of these are loosely grouped to the southwest, testing for
extensions of the spectacular mineralization encountered in CRC hole 1/1A.
Six more are to the northeast, drilling for extensions of grades and
intervals discovered at holes CRC-13 and CRC-15, in an area surrounding old
manganese mine workings. (See Diagram.)
The remaining half-dozen exploratory holes, leapfrogging over the Central
Zone, step out 1.5-2 km westward from the Marble Zone, to test the Northwest
and West Advanced Argillic Zones of the Project. Extensive surface work here
has developed attractive new drilling targets.
Assays from all drilling are under the supervision of RTZ. These are
performed by Omac Laboratories, Ltd., Ireland, and are subject to an
RTZ-administered program of quality control and check assays. Anatolia
expects to report assay results once these are available from RTZ on
completion of the current drilling program.
The Karagoz Gold Project
hile shareholders attention is focused on forthcoming results from the
Cukurdere Gold Project, positive results at Karagoz could add to the
Company’s value. Karagoz is another of Anatolia’s three j-vs with RTZ that
is drawing early grassroots attention. Karagoz is located about 200 miles to
the southwest of Cukurdere.
A systematic surface exploration program here identified a prospective gold
zone ranging over a 3.5 km by 1.2 km area. Within the overall zone, an
approximately 1 sq. km. area yielded surface samples grading from 0.3 g/t
gold to as high as 7.8 g/t (1/4 oz./t) gold.
Originally, RTZ and Anatolia planned four exploratory scout holes testing
oxidized material. But results from a geochem survey on a 100m x 100m grid
led the partners to drill a total of 10 scout holes 2 km to 5 km northeast
of the first Karagoz area of focus.
Anatolia is now also expecting assays soon from this very preliminary scout
program. But, like the Cukurdere, this large prospect is overlain with
numerous ancient mine workings and pits, suggestive of widespread
mineralization throughout the overall Karagoz Gold Project area. And it may
need considerably more exploration to identify the potential of
mineralization at depth.
Kabatas District Copper/Gold Project
The company’s third $US 10.5-million j-v with RTZ comprises the entire large
district a 90 km x 60 km area surrounding and contiguous with the
Cukurdere. This very large area has been and is continuing to be actively
explored by the Anatolia/Rio Tinto j-v. While much can be said about its
appealing exploration potentials, these are obviously highlighted by
Cukurdere results to date, and will come into sharper focus for the j-v
partners as work at the current centerpiece project yields continued
results.
Outlook
Anatolia and RTZ are on the fast track to significant accomplishments since
forming a four-year strategic alliance in April 2000. RTZ is now earning
into three $10.5-million joint ventures, with the Cukurdere as the current
flagship project for the partners, while on-going exploration programs on
Anatolia properties in Turkey are aimed at identifying additional joint
ventures for the company with RTZ.
Anatolia is the leading mineral explorer in mineral-rich Turkey, with
exploration rights covering 1.3 million hectares (5,000 square miles).
Turkey has a long history of gold mining, going back to the mythical, 9th
century BC King Midas. However, the mineral potential of the country has
been largely ignored in modern times, giving Anatolia a chance to amass a
huge and highly prospective property position with little competition.
Rio Tinto, the world’s largest mining company, recognized the potential of
Anatolia’s extensive property position and the expertise of its exploration
team. As a result, the major is funding work on Anatolia’s properties under
an arrangement that specifies that Rio will only explore in Turkey through
the joint venture with Anatolia. Part of the arrangement is the $1.75
million grassroots exploration program intended to pinpoint additional
targets on current Anatolia property holdings, as well as to locate other
prospects within the country.
While all this suggests a positive long-term outlook for the company, the
partners’ excitement is at this point riveted on Cukurdere. Here,
Anatolia/Rio Tinto are developing one of the largest zones of gold
mineralization known in the region.
Key additional drill results are due soon from the area of the project’s
major discoveries at the Marble and Central Zones. Management believes that,
with any success, Anatolia is now sharply poised to achieve strong added
recognition and valuations in the mining sector.
CDNX: YMC.U has recently traded in the $US 0.40 range. Just now, we’d watch
it closely.
For immediate corporate information, call CEO Richard C. Moores at
303-670-9945, or George Duggan, investor relations, at 818-542-6880.
E-mail address: gduggan@nat-media.com.
Website: www.anatolia-minerals.com.
Corporate Information
Anatolia Minerals Development Limited
Exchange CDNX Symbol YMC.U Recent Price Range $US 0.40Shares
Outstanding 23.4 million Shares Fully Diluted 26.7 million Market
Capitalization $US 10.7 million Phone 303-670-9945 Investor Relations
George Duggan Phone 818-542-6880 E-mail
gduggan@nat-media.com
Summary of Significant Drilling Results at Cukurdere
Full results available at www.anatolia-minerals.com
Diamond Drill Holes
As Labeled Drill -----------METERS---------- Gold
on Map Hole From To Interval gm/t
I CDD-1 0.0 82.0 82.0 1.6
133.0 139.0 6.0 4.6
II CDD-2 3.6 41.0 37.4 1.5
59.0 119.0 60.0 1.8
175.0 178.1 3.1 1.7
III CDD-3 13.5 84.0 70.5 1.8
225.1 229.3 4.2 8.0
IV CDD-4 0.0 11.0 11.0 16.3
110.0 116.0 6.0 1.2
181.0 192.0 11.0 1.6
V CDD-5 40.0 44.0 4.0 1.2
58.0 71.0 13.0 2.7
VI CDD-6 0.0 23.0 23.0 2.4
71.0 89.0 18.0 2.1
VII CDD-7 100.0 161.0 61.0 2.1
Reverse-Circulation Drill Holes
As Labeled Drill -------- METERS --------- Gold
on Map Hole From To Interval gm/t
1/1A CRC-1A 11.0 40.0 29.0 2.9
40.0 66.0 26.0 27.0
66.0 93.0 27.0 2.4
4. CRC-4 44.0 112.0 68.0 2.01
5. CRC-5 0.0 28.0 28.0 2.32
48.0 148.0 100.0 2.32
6. CRC-6 0.0 53.0 53.0 2.7
7. CRC-7 22.0 27.0 5.0 2.3
53.0 57.0 4.0 2.3
8/8A. CRC-8A 2.0 34.0 32.0 1.4
10. CRC-10 0.0 11.0 11.0 1.1
33.0 61.0 28.0 2.2
13. CRC-13 0.0 24.0 24.0 3.8
92.0 151.0 59.0 2.53
15. CRC-15 125.0 188.5 63.5 4.24
19. CRC-19 164.0 196.0 32.0 1.5
14, 16, 17, 18 Holes CRC-14, 16, 17 and 18 were terminated in
gold-anomalous marble above the mineralized horizon abandoned shallow as a
result of drilling problems and averaged 0.2 to 0.3 grams gold per tonne,
with some +1 gram intervals.
20. CRC-20 was drilled in a down-faulted block, increasing
the depth to the mineralized horizon.
22. CRC-22 141.0 148.0 7.0 1.755
23. CRC-23 8.0 16.0 8.0 2.3
30.0 48.2 18.2 1.1
25. CRC-25 30.0 78.0 48.0 2.3
90.0 110.0 20.0 3.6
1 CRC-4: Including 36 meters at 3.2 grams gold per tonne from 54 to 90
meters.
2 CRC-5: Including 0 to 10 meters at 4.8 grams gold per tonne and 4.3
grams gold per tonne from 48 to 89 meters (6.4 grams per tonne from 48 to 69
meters)
3 CRC 13: Including 18 meters at 4.9 grams gold per tonne from 92 to 110
meters.
4 CRC-15: Including 140 to 166 meters, 26 meters at 7.4 grams gold per
tonne.
5 CRC-22: Bottomed in 3.1 grams gold per tonne.
Regarding contained silver and copper: In the Central Zone, holes are
averaging 0.10% copper and 8 gms/tonne silver.
In the Marble Cover Zone, holes indicate up to 3 ounces/tonne silver and no
copper.
Hole CRC-8, nearby to CRC-8A, lost at 61 meters, contained 5 meters of 3.1%
copper from 25 to 30 meters. Not followed up yet.
Hole CRC-10: 30 meters of 1.8% copper from 34 to 64 meters, including 46 to
58 meters at 4.1%, with 47 to 50 meters at 7.6%. This is a secondarily
enriched zone, treatable by leaching or flotation. Not followed up yet.
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