Mediterranean Resources initiates drilling at the Celtik discovery and
advances Yusufeli Property permitting process
Celtik Discovery
In a previous drilling program, Celtik returned intercepts with gold and copper values up to 6.51 g/t Au and 0.9% Cu over 18.4 metres (HD-04) at a depth of 166.2 to 184.6 metres. The first drill holes of an approximately 3,000 metre drill campaign comprising 8 drill holes will be located in the discovery zone.
Permitting Update
Golder Associates,
SRK completed a NI 43-101 compliant resource estimate on the Tac and Corak projects earlier this year which established an indicated resource of 49.5 million tonnes grading 1.32 g/t (Au Eq.) containing 2.09 million ounces of Au Eq. and an indicated resource of 11.0 million tonnes grading 1.16 g/t (Au Eq.) containing 409,000 ounces of Au Eq. using April, 2009 metals prices.
About Mediterranean Resources
MNR has an undivided interest in the Tac and Corak mining operating licenses and the Celtik and Cevreli exploration licenses. MNR controls a contiguous 12km mineralized trend collectively known as the Yusufeli Property. Approximately
On behalf of the Board of Directors, "Dr. Peter J. Guest" President & CEO
Statements in this release that are not historical facts are "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned that any such statements are not guarantees of future performance and that the actual developments or results may vary materially from those in these "forward-looking statements"
The TSX does not accept responsibility for the adequacy or accuracy of this release.
For further information: Peter Guest, President and CEO, Ph: (604) 669-3397, [email protected]; or Philip Strathy, Director, Ph: (416) 368-9083, [email protected]; Website: www.medresources.ca
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