TORONTO, Feb. 10 /CNW/ - Anatolia Minerals Development Limited ("Anatolia" or the "Company") (TSX:ANO) announces additional results from the current sulfide exploration program at the Çöpler Gold Project. A map is posted to Anatolia's website (www.anatoliaminerals.com). This is the third release of results for this program, with previous announcements made November 17 and December 7, 2009.
The majority of the reported drill holes are in the Main Zone, trending from southwest to northeast through the center of the planned pit for the oxide phase. Sulfide intercepts were generally below the planned oxide pit and are expected to add tonnes to the sulfide resource. True widths in the Main Zone are not determinable at this time based on the available data. A summary of the results is given below:
Drill Depth From To cept Au Ag
Hole (Meters) Location (Meters) (Meters) (Meters) (gpt) (gpt) Notes
CDD-205 387.9 Mn Mine 14.00 32.90 18.90 4.70 10.0 Oxide
173.50 194.00 20.50 2.95 10.8 Sulfide
CDD-206 278.5 Main 93.00 130.00 37.00 2.65 10.7 Sulfide
CDD-208 146.6 Main 98.50 108.50 10.00 3.05 1.0 Sulfide
CDD-211 236.6 Main 5.50 8.50 3.00 4.36 7.4 Oxide
27.50 78.50 51.00 2.51 5.0 Sulfide
Including 31.50 43.80 12.30 5.74 8.0 Sulfide
Including 54.40 58.00 3.60 3.89 7.4 Sulfide
Including 62.00 65.50 3.50 3.33 5.0 Sulfide
CDD-212 237.9 Main 124.50 140.00 15.50 2.02 1.8 Sulfide
144.60 160.50 15.90 3.02 5.7 Sulfide
CDD-213 253.3 Main 122.50 166.00 43.50 2.05 2.0 Sulfide
Including 123.50 138.00 14.50 3.11 1.0 Sulfide
Including 142.90 146.10 3.20 2.96 1.7 Sulfide
CDD-215 240.0 Main 5.90 17.00 11.10 3.17 5.5 Oxide
77.70 94.50 16.80 3.00 2.5 Sulfide
CDD-216 270.3 Main 24.60 38.70 14.10 2.26 1.9 Sulfide
48.50 56.00 7.50 2.21 8.0 Sulfide
CDD-217 197.0 Main 164.30 169.90 5.60 7.18 3.9 Sulfide
CDD-218 150.3 Main 21.20 25.20 4.00 2.83 4.9 Sulfide
46.50 51.00 4.50 2.82 22.3 Sulfide
57.10 86.00 28.90 2.84 4.2 Sulfide
104.80 115.05 10.25 10.97 63.4 Sulfide
CRD-715 204.0 Main 13.00 15.00 2.00 3.68 199.5 Sulfide
18.00 44.00 26.00 3.29 13.7 Sulfide
62.00 77.00 15.00 3.15 30.3 Sulfide
129.00 142.50 13.50 2.59 3.6 Sulfide
Unreported holes CDD-207, CDD-209, CDD-210, CDD-214, CRD-714 and CRD-716 had no significant results.
The current phase of drilling was completed in late January with final assay results pending.
Drilling results to date and concurrent surface reconnaissance demonstrate additional oxide and sulfide potential at Çöpler. Drilling in the Manganese Mine and Main Zones has intercepted gold mineralization outside the existing resource block model and also indicates the deposit remains open. Additional targets have recently been identified in areas to the west and northwest of the Main Zone. Once final results from the current drilling program are received, Anatolia will update the Çöpler resource estimate and evaluate the potential for a follow-up drilling program.
Edward Dowling, President and CEO of Anatolia stated, "This has been a very productive drilling program. Historically, exploration drilling in the Main Zone has been shallow and solely focused on oxide gold mineralization. Drilling to greater depths is returning consistently good results and adding to our understanding of the structural controls associated with the sulfides mineralization."
Anatolia, recognized as a leader in exploration and development in Turkey, is developing Çöpler. Çöpler is 95% owned by Anatolia and 5% by Çalik Mining (see News Release, August 13, 2009). Initial plans are to produce approximately 1.3 million ounces of gold at a cash cost of about US$260 per ounce. The first gold pour at Çöpler is expected in 2010 with full production to average about 175,000 ounces of gold per year after ramp up. Additional production expansion of the oxide and sulfide gold resource is expected at Çöpler by taking advantage of the inherent large resource through on-going technical activities. In addition, Anatolia holds a significant pipeline of prospective gold and base metal projects.
Anatolia currently has 138.1 million common shares issued and outstanding, 156.4 million fully diluted. For more information please contact Edward Dowling, President and CEO, or Douglas Tobler, CFO at (303) 292-1299 or visit www.anatoliaminerals.com. Anatolia's common shares are listed for trading on the Toronto Stock Exchange under the symbol "ANO."
Except for statements of historical fact relating to Anatolia, certain statements contained in this news release constitute forward-looking information, future oriented financial information, or financial outlooks (collectively "forward-looking information") within the meaning of Canadian securities laws. Forward-looking information may relate to this news release and other matters identified in Anatolia's public filings, Anatolia's future outlook and anticipated events or results and, in some cases, can be identified by terminology such as "may", "will", "could", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "projects", "predict", "potential", "targeted", "possible", "continue", "objective" or other similar expressions concerning matters that are not historical facts and include, but are not limited in any manner to, those with respect to commodity prices, mineral resources, mineral reserves, realization of mineral reserves, existence or realization of mineral resource estimates, results of exploration activities, the timing and amount of future production, the timing of construction of the proposed mine and process facilities, capital and operating expenditures, the timing of receipt of permits, rights and authorizations, communications with local stakeholders and community relations, status of negotiations of joint ventures, availability of financing and any and all other timing, development, operational, financial, economic, legal, regulatory and political factors that may influence future events or conditions. Such forward-looking statements are based on a number of material factors and assumptions, including, but not limited in any manner, those disclosed in any other of Anatolia's public filings, and include the ultimate determination of mineral reserves, availability and final receipt of required approvals, licenses and permits, ability to acquire necessary surface rights, sufficient working capital to develop and operate the proposed mine, access to adequate services and supplies, economic conditions, commodity prices, foreign currency exchange rates, interest rates, access to capital and debt markets and associated cost of funds, availability of a qualified work force, lack of social opposition and legal challenges, and the ultimate ability to mine, process and sell mineral products on economically favorable terms. While Anatolia considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. Actual results may vary from such forward-looking information for a variety of reasons, including but not limited to risks and uncertainties disclosed in other Anatolia filings at www.sedar.com. Forward-looking statements are based upon management's beliefs, estimate and opinions on the date the statements are made and, other than as required by law, Anatolia does not intend, and undertakes no obligation to update any forward-looking information to reflect, among other things, new information or future events.
The technical information set forth in this press release and the contents of this press release have been reviewed and prepared under the supervision of Firuz Alizade, Vice President of Exploration with Anatolia Minerals Development Limited, and verified by Georgi I. Magaranov, a qualified person pursuant to National Instrument 43-101 of the Canadian Securities Administration. Drill composites were calculated using a cut-off of 0.30 g/t. Drill intersections are reported as drilled thicknesses. Reverse circulation cuttings were sampled on 1.0 meter intervals and core was sampled at geologically selected intervals. Drill samples were performed by ALS-Chemex in Vancouver, BC, Canada, for gold by Fire Assay of a 30 gram (1 assay ton) charge with an AA finish, or if over 5.0 g/t were re-assayed and completed with a gravimetric finish. For these samples, the gravimetric data were utilized in calculating gold intersections. Quality Assurance/Quality Control included the insertion and continual monitoring of numerous standards and blanks into the sample stream, and the collection of duplicate samples at regular intervals within each batch. Selected holes are also analyzed for a 34-element geochemical suite by ICP-MS.
SOURCE Alacer Gold Corp.
For further information: For further information: Edward Dowling, President and CEO, or Douglas Tobler, CFO, at (303) 292-1299 or visit www.anatoliaminerals.com