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Anatolia's Çöpler Gold sulfides positive - proceeding to prefeasibility
Anatolia's Çöpler Gold sulfides positive - proceeding to prefeasibility
About this update from Allied Strategic Resources Corp
[{"type":"text","content":"\n\n\n\nTORONTO, Mar. 18, 2010 (Canada NewsWire Group) -- /CNW/ -- Anatolia Minerals Development Limited (\"Anatolia\" or the \"Company\") (TSX:ANO) announces plans to proceed with a preliminary feasibility level engineering study for the sulfides at the Çöpler Gold Project (\"Çöpler\") in Turkey. Based on positive results from the recent completion of an internal preliminary economic assessment of the mining, processing and recovery of gold from the sulfide resources at Çöpler, the Board of Directors of Anatolia has directed management to proceed to advance the sulfide project to prefeasibility level engineering. The new internal preliminary economic assessment report updated an earlier technical report (see Preliminary Assessment Sulfide Ore Processing, dated February 4, 2008 at www.sedar.com) by incorporating updated metallurgical test work which used samples from the 2008 drilling program, including scope-of-work missing from the previous study, escalating capital and unit operating costs from the previous estimates, and increasing the contingency amount. The new report indicates that an economic return substantially greater than the cost of capital is achievable using metal prices at or below the three-year historical average. This assessment is based on previously published resources and did not include potential resource upside from the 2009 drilling program (see News Releases on February 10, February 25, 2010, November 17, and December 7, 2009) which will be incorporated into the forthcoming study. The Company expects to complete and publish the results of a preliminary feasibility level engineering study that complies with National Instrument 43-101 by the end of 2010.Edward Dowling, President and CEO of Anatolia Minerals stated: \"The Company is excited by the positive economic potential and future growth leverage offered by producing gold from the sulfide resources at Çöpler. The sulfides represent more than half of Çöpler's current gold resources and demonstrate our greatest opportunity to add new ounces. With strong cash flow expected from the Çöpler oxides, currently in development, the opportunity exists to reinvest cash in organic growth to generate additional returns on capital.\"About AnatoliaAnatolia, recognized as a leader in exploration and developm...