Çopler sulfide drilling returns positive initial results

TORONTO, Nov. 17 /CNW/ - Anatolia Minerals Development Limited ("Anatolia" or the "Company") (TSX:ANO) announces initial results from the current exploration program targeting sulfide mineralization at the Çopler Gold Project. Drilling to date has focused on gold resources mineralization in and below the Manganese Mine Zone pit, and at depth along the southern boundary of the Main Zone pit. A map is posted to Anatolia's website (www.anatoliaminerals.com).

Edward Dowling, President and CEO of Anatolia stated, "These early results are very encouraging. We are seeing excellent grades in the Manganese Mine Zone and are hitting the targeted sub-surface structures in the Main Zone. Several of the drill holes bottomed in good mineralization. The current program should be completed by early next year, and subject to continued positive results, a follow up program is under consideration."

Results for three diamond holes drilled in the Manganese Mine Zone represent some the best intervals and grades reported at Çopler to date. These holes were collared within the existing pit boundary and drilled to depths below the bottom of the current pit design. Gold grades for the in-pit intervals (reported below) were generally higher than grades for known in-pit gold reserves and resources. Portions of the intervals reported below pit were outside existing gold resources and included higher grade gold mineralization. Given the disseminated nature of the deposit in the Manganese Mine Zone, these intercepts are considered true widths. A summary of some of the more significant results from the Manganese Mine Zone is given below:

                 Depth                From      To    Intercept   Au     Ag
    Drill Hole  (Meters)  Location  (Meters) (Meters) (Meters)   (gpt)  (gpt)

    CDD-201      203.00    In-Pit     54.20   132.70    78.50    5.29    3.14
      Including                       68.80   101.60    32.80    7.88    3.82

                           In-Pit    156.10   203.00    46.90    3.90   12.34
      Including                      173.40   186.00    12.60    8.94   39.10

    CDD-202      271.30    In-Pit     68.00   130.00    62.00    9.75   21.98
      Including                      106.10   128.30    22.20   22.84   54.68

                          Below Pit  168.00   271.30   103.30    2.91   43.91
      Including                      259.50   271.30    11.80   13.12  298.61

    CDD-203      393.40    In-Pit    120.25   150.00    29.75   15.21   76.87
      Including                      126.35   135.20     8.85   41.28  130.02

                          Below-Pit  198.00   225.00    27.00    2.22   12.89

                          Below Pit  233.35   278.20    44.85    1.52    2.26
      Including                      257.40   274.90    17.50    2.13    2.08

                          Below Pit  303.00   309.40     6.40    2.39    2.31

Current drilling in the Main Zone is targeting sulfide gold mineralization along sub-vertical structures near the southern boundary of the Main Zone pit. Previous Main Zone drilling was typically directed toward shallower oxide gold mineralization. Prior to the current program, the median depth of drill holes in the Main Zone was a shallow 52 meters. The true widths are not determinable at this time based on the available data. A summary of some of the more significant results from the Main Zone is given below:

                 Depth                From      To    Intercept   Au     Ag
    Drill Hole  (Meters)  Location  (Meters) (Meters) (Meters)   (gpt)  (gpt)

    CRC-683     200.50  S. Main Zone  81.00   108.00    27.00    2.04    1.39

    CRC-686     108.50  S. Main Zone   4.00     9.00     5.00    1.10    1.00

                                      30.00    42.00    12.00    3.82    1.00

    CRC-687     173.00  S. Main Zone 130.00   139.00     9.00    2.00    2.43

    CRC-688     129.00  S. Main Zone 108.00   121.00    13.00    2.16    2.85

    CRC-690     154.00  S. Main Zone 129.00   154.00    25.00    2.77    1.37
      Including                      145.00   154.00     9.00    4.21    1.36

    CRC-695     172.00  S. Main Zone  78.00    90.00    12.00    3.97    1.00

                                     126.00   146.00    20.00    2.32    1.26

    CRC-700     130.00  S. Main Zone 109.00   112.00     3.00    8.40    1.00

                                     119.00   130.00    11.00    2.53    1.00

    CRC-701     130.00  S. Main Zone   4.00    17.00    13.00    2.43     N/R

                                      69.00   105.00    36.00    2.46     N/R

    CRC-703     150.00  S. Main Zone  50.00    56.00     6.00    1.97    7.85

                                      62.00    69.00     7.00    2.91   60.97

                                     103.00   117.00    14.00    6.00    2.46

                                     131.00   137.00     6.00    2.44   10.55

The drilling program at Çopler Gold Project continues in all areas of the project. Currently, one reverse circulation and three diamond drills are operating on site. The goals of the program are to improve the geological interpretation of the resource and to increase tons and gold grade at Çopler.

About Anatolia

Anatolia, recognized as a leader in exploration and development in Turkey, is developing Çopler. Çopler 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 Çopler is expected in 2010 with full production of about 175,000 ounces of gold per year anticipated in 2011. Additional production expansion of the oxide and sulfide gold resource is expected at Çopler 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 137.9 million common shares issued and outstanding, 156.5 million fully diluted. Anatolia's common shares are listed for trading on the Toronto Stock Exchange under the symbol "ANO."

Cautionary Statements

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, 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 intervals and core was sampled at geologically slected intervals. Drill samples were 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 utilizied in calculating gold intersections. QA/QC included the insertion and continual monitoring of numerous standards and blanks into the sample stream, and the collection of duplicate samples at random 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

Organization Profile

Alacer Gold Corp.

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