Business
Anatolia announces Copler sulfide drilling and development plan
TORONTO, May 19 /CNW/ - Anatolia Minerals Development Limited ("Anatolia" or the "Company") (TSX:...
About this update from Allied Strategic Resources Corp
[{"type":"text","content":"\n\n\n\nTORONTO, May 19 /CNW/ - Anatolia Minerals Development Limited ("Anatolia"\nor the "Company") (TSX: ANO) announces plans to drill the large, underlying\nsulfide gold deposit at its Copler Gold Project in eastern central Turkey.\nThis drill program is part of Anatolia's current sulfide development plan,\nwhich is expected to culminate in a preliminary feasibility study by early\n2010.\n\n\nThe drill plan includes approximately 12,000 meters, designed primarily\nto extend and better define the gold mineralization of several known\nsub-vertical structures encountered during earlier drilling. Concurrently,\nmanagement is continuing metallurgical testing of sulfide samples collected\nduring the 2008 drilling program and evaluating processing alternatives.\n\n\nEdward Dowling, President and CEO of Anatolia stated, "Advancing the\nCopler sulfides is part of our holistic approach to developing the gold\ndeposit at Copler. This drilling program and plans to produce a preliminary\nfeasibility study reflect the confidence of our team in the economic potential\nof the sulfides. We expect to see first gold production from the oxide\nreserves within a year, and are preparing to transition into the sulfides as\nmining exposes these ores."\n\n\nAbout Anatolia\n\n\nAnatolia Minerals, recognized as a leader in exploration and development\nin Turkey, is developing its Copler Gold Project. Initial plans are to produce\napproximately 1.3 million ounces of gold at a cash cost of about $260 per\nounce. The first gold pour at Copler is expected in 2010 with full production\nof about 175,000 ounces of gold per year anticipated in 2011. Additional\nproduction expansion of the oxide and sulfide gold resource is expected at\nCopler by taking advantage of the inherent large resource through on-going\ntechnical activities. In addition, Anatolia holds a significant pipeline of\nprospective gold and base metal projects.\n\n\nAnatolia currently has 114.7 million common shares issued and\noutstanding, 133.4 million fully diluted. Anatolia's common shares are listed\nfor trading on the Toronto Stock Exchange under the symbol ANO.\n\n\nCautionary Statements\n\n\nCertain statements contained in this news release constitute\nforward-looking information, future oriented financial information, or\nfinancial outlooks (collectively &...