Mediterranean assays 20.08 g/t gold over 19 metres at Corak



    VANCOUVER, Oct. 16 /CNW/ - Mediterranean Resources Ltd. (TSX-V: MNR,
Frankfurt: MHM1) (the "Company") today announced a drill hole result that
returned 20.08 g/t gold, 5.5% zinc and 0.9% lead over 19 metres at a depth of
89 to 108 metres, confirming the northeast extension of the 800 metre
mineralized trend of the Corak gold property held by the Company in
northeastern Turkey.
    This diamond core drill hole CD- 132, drilled to a depth of 195 metres at
the east end of the Village Zone, was drilled to test the east extension of
the 800 metre mineralized trend containing the Village and South Zones. The
average values of three mineralized intercepts at depths of 37.3 to
43.3 metres, 60.1 to 76.7 metres and 89 to 108 metres were 9.80 g/t Au, 0.93%
Pb and 4.21% Zn over 41.6 metres. These significant gold and base metal values
confirm the resource potential as being open to the northeast and at depth.
    The historic resource potential at Corak, surmised from exploration
drilling in the South and Village Zones and soil sampling completed by a major
mining company in the early 1990s, which predates and is non-compliant with NI
43-101, is 1.8 million tonnes averaging 10 g/t gold. As a qualified person has
not performed sufficient work to classify the historical estimate as current
mineral resources, the Company is not treating the historical estimate as
current mineral resources and the historical estimate should not be relied
upon.
    Refer to the table below for detailed results and
http://www.medresources.ca/s/Maps.asp for a map of the Corak project area
showing the mineralized zones and drill hole locations.

    
    -------------------------------------------------------------------------
              From           Interval     Au      Ag
    CD-132     (m)   To (m)     (m)     (g/t)   (g/t)  Cu (%)  Pb (%)  Zn (%)
    -------------------------------------------------------------------------
             37.3     43.3     6.00     0.26    3.19    0.03    0.65    3.03
    -------------------------------------------------------------------------
    and      60.1     76.7    16.60     1.49    6.05    0.14    1.06    3.10
    -------------------------------------------------------------------------
    and      89.0    108.0    19.00    20.08    9.65    0.15    0.90    5.56
    -------------------------------------------------------------------------
    and     126.6    127.7     1.10     1.73    1.70    0.01    0.68    1.32
    -------------------------------------------------------------------------
    and     133.7    134.0     0.30     5.20    2.30    0.01    0.13    2.87
    -------------------------------------------------------------------------
    

    The 20,000 metre Corak drill campaign is expected to be completed by the
end of November, 2007 and a NI 43-101 compliant resource estimate completed by
February 29, 2008.
    Dr. Peter Guest is the qualified person who has reviewed the data
indicated in this news release. The ALS Chemex Vancouver laboratory is using
standard fire assay and atomic absorption methods in performing all gold and
multi-element analyses. True widths of the narrow high grade veins reported
are indeterminable at this stage.

    About Mediterranean Resources

    Mediterranean Resources Ltd. (the "Company") acquires and develops
advanced stage mineral properties of demonstrated potential. Currently the
Company is actively working on its two 100% owned properties in Turkey, Tac
and Corak, that lie along a common mineralized trend with Corak approximately
8 kilometres to the southwest of Tac. These properties experienced more than
US$4 million of exploration by a major international mining company during the
early 1990's and US$3.1 million of exploration by the Company in 2006 which
led to the Company acquiring an undivided interest in them. The Company has
also initiated ground exploration at Cevreli, approximately two kilometres to
the southwest of Tac along the common mineralized trend linking Tac and Corak.
The purpose of this is to identify drill targets for 2008 and open up a third
area of exploration along the 11 kilometre trend.
    During 2006, the Company outlined at the Tac Property a NI 43-101
compliant Indicated Resource of 773,313 ozs of gold and 34,220,429 lbs of
copper on an uncapped basis with average grades of 2.01 g/t gold and 0.13%
copper at a 1.0 g/t gold cut-off. The Company is conducting a 10,000 metre
drill program at Tac with the goal of updating the compliant resource estimate
by the first quarter, 2008. The Company is also carrying out a 20,000 metre
drill campaign at Corak with the goal of completing a NI 43-101 compliant
resource estimate also by the end of the first quarter, 2008. Please visit
www.medresources.ca for additional information.

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.




For further information:

For further information: Dr. Peter J. Guest, President & CEO, (604)
669-3397; Jag S. Sandhu, VP Corporate Development, (604) 306-1950,
www.medresources.ca

Organization Profile

Mediterranean Resources Ltd.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890