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Commencement of Drilling at Artvin Project
Commencement of Drilling at Artvin Project.
About this update from Kefi Gold And Copper Plc
[{"type":"text","content":"\n \nAIM: KEFI 5th November 2009\n\n KEFI Minerals Plc \n\n (\"KEFI Minerals\" or the \"Company\") \n\n COMMENCEMENT OF DRILLING AT ARTVIN PROJECT, TURKEY \n\nKEFI Minerals, the AIM-quoted gold and copper exploration company with projects\nin Turkey and the Kingdom of Saudi Arabia, is pleased to announce that a\ndrilling programme has commenced at the Artvin Project that is aimed at a very\nlarge geophysical anomaly that can be caused either by a porphyry copper-gold\ndeposit, or a volcanic-hosted massive sulphide (\"VHMS\") deposit.\n\nThe Artvin Project is a joint venture with Centerra Gold, who is currently\nfunding exploration in order to earn up to 70% of the Artvin Project upon\nexpenditure of US$6 million. KEFI Minerals is the manager of the joint venture.\n\nThe 1,200m drilling programme is planned to comprise four diamond drillholes at\nthe Yanikli Prospect. The target is a strong induced polarisation (\"IP\")\nchargeability anomaly with partly coincident anomalous levels of gold and base\nmetals identified on surface. Previous diamond drilling by KEFI Minerals in\nlate 2008, on the eastern margin of the chargeability anomaly, intersected gold\nand base-metals mineralisation, including 2m at 20.9g/t gold, 14m at 1.0g/t\ngold, 64m at 0.35% zinc and 44m at 0.57% zinc.\n\nThe Artvin Project is located in the Artvin Province of northeastern Turkey and\ncomprises 15 tenements, which cover approximately 254km2 within the eastern\nportion of the Eastern Pontide Belt. The Eastern Pontide Belt is a major\nmetallogenic province in the eastern Black Sea coastal region and is\nprospective for VHMS deposits, porphyry copper-gold deposits and epithermal\ngold-silver mineralisation.\n\nKEFI Minerals' Managing Director, Jeff Rayner, commented:\n\n\"Late last year, we received very encouraging results from the initial diamond\ndrilling programme at Yanikli. The results of which suggest it could be a\nhigh-grade VHMS base-metals deposit or peripheral to a porphyry copper deposit.\nThis prospect has all the characteristics of a significant mineralised system.\n\n\"We look forward to receiving the assay results from this follow-up programme\nafter drilling is competed in December 2009.\"\n\nEnquiries\n\nKEFI Minerals WH Ireland Bishopsgate Communications \nJeffrey Rayner Katy Mitchell Nick Rome \n Michael Kinirons \n+90 533 928 19 13 +44 1...