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Artvin project drilling results
Artvin project drilling results.
About this update from Kefi Gold And Copper Plc
[{"type":"text","content":"\n \nAIM: KEFI 13 February 2009\n\n KEFI Minerals Plc \n\n (\"KEFI Minerals\" or the \"Company\") \n\n Results of First Drilling Programme at Artvin Project, Turkey \n\nKEFI Minerals Plc, the AIM-quoted gold and copper exploration company, is\npleased to announce the final assay results from its recently completed initial\ndiamond drilling programme at the Company's Artvin Project located in the\nEastern Pontide Belt in northeastern Turkey.\n\n Highlights \n\n * Initial drilling results confirm that the selected targets are mineralised\n with gold and base metals and warrant follow-up.\n \n * This prospect is held in a joint venture (JV) operated by KEFI Minerals and\n funded by Centerra Gold Inc (\"Centerra\") which is considering the next\n stage of work commitment when weather conditions permit after the winter\n recess. Centerra has the right to earn up to 70% interest in the property\n by spending USD$6 million over 5 years.\n \n * Maximum gold intercept of 2m at20.9g/t gold and 47.4g/t silver was recorded\n in hole AYDD4.Other significant gold intercepts include 14m at 1.0g/t gold\n from 42m (including 1m at 9.9g/t gold from 44m) and 33m at 0.3g/t Au from\n 62m in AYDD1.\n \n * Wide intervals of anomalous zinc mineralisation, including 64m at0.35% zinc\n and 44m at0.57% zinc, were recorded in holes AYDD1 to AYDD4.\n \n * All five drillholes intersected wide intervals of variably altered\n andesitic volcanic rocks with widespread disseminated and vein-style\n pyrite-sphalerite (zinc sulphide) with some galena (lead sulphide) and\n chalcopyrite (copper sulphide).\n \nAll assays have now been received from the first-phase diamond drilling\nprogramme for the Yanikli Prospect at the Artvin Project. The five-drillhole\nprogramme was designed to test strong gold/base-metals anomalies from soil and\nrock chip surveys as well as induced polarisation (IP)chargeability-resistivity \nanomalies. The Company's geologists have observed significant widths of \nquartz-sericite-pyrite alteration with widespread disseminated and vein-style \npyrite-sphalerite and some galena within the core in all five holes. Follow-up \ndrilling is planned for later in 2009.\n\nKEFI Minerals' Managing Director, Jeff Rayner, commented:\n\n\"This initial drilling programme has confirmed the presence of precious and\nbase-metal mineralisation at the Yanikli Pr...