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Commencement Of Drilling At Bakir Tepe Project
Commencement Of Drilling At Bakir Tepe Project.
About this update from Kefi Gold And Copper Plc
[{"type":"text","content":"\n \nAIM: KEFI 6 January 2010\n\n KEFI Minerals Plc \n\n (\"KEFI Minerals\" or the \"Company\") \n\n COMMENCEMENT OF DRILLING AT BAKIR TEPE 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 Bakir Tepe Project in southwest Turkey\nwith the aim of testing a large geophysical anomaly that is interpreted to\npotentially be related to a Cyprus-style copper-gold volcanic-hosted massive\nsulphide (\"VHMS\") deposit.\n\nThe Bakir Tepe Project is a joint venture with Centerra Gold Inc. Centerra has\nthe right to earn a 51% interest in the project upon contributing US$750,000 to\nthe joint venture over two years with a minimum expenditure of US$350,000 in\nthe first year. KEFI Minerals is the manager of the joint venture.\n\nThe 900m drilling programme is planned to comprise three diamond drillholes\ntargeting a strong induced polarisation (\"IP\") chargeability anomaly down dip\nof surficial mineralisation that has returned up to 3.6% copper, 4.6g/t gold,\nand 67g/t silver in rock chip samples.\n\nThe Bakir Tepe Project is located in the Burdur Province of southwestern Turkey\nand comprises seven tenements, which cover approximately 78km2 within the\nLycian Ophiolite Belt and recent work carried out by KEFI Minerals has\nidentified the potential for Cyprus-style copper-gold VHMS deposits.\n\nKEFI Minerals' Managing Director, Jeff Rayner, commented:\n\n\"The commencement of diamond drilling at the Bakir Tepe Project represents the\nculmination of months of exploration activity by KEFI Minerals personnel, which\nhas resulted in the identification of a number of high priority drill targets.\nWe are encouraged by our initial activity and look forward to expanding our\nBakir Tepe development in conjunction with our JV partner Centerra. We will\nupdate shareholders on our progress throughout 2010.\"\n\nEnquiries\n\nKEFI Minerals WH Ireland Fox-Davies Bishopsgate \n Communications \n Capital Limited \n \nJeffrey Rayner Katy Mitchell James Hehn Nick Rome \n \n+90 533 928 19 13 +44 161 832 2174 +44 20 7936 5232 +44 20 7562 3350 \n \nwww.kefi-minerals.com \n\nReferences in this announcement to exploration results and potential have been\napproved for release by Mr Malcolm Stallman, B.A...