TORONTO, Dec. 18 /CNW/ - Anatolia Minerals Development Limited ("Anatolia" or the "Company") (TSX:ANO) announces assay results for its 100% owned Karakartal copper-gold porphyry property in east-central Turkey. Karakartal is located approximately 15 km southeast of Anatolia's Copler Gold Project, which is currently under development.
The current phase of drilling began in late August, 2008. Reported results include seven diamond drill holes aggregating 3,007 meters. Previous drilling by Anatolia included 14 diamond drill holes; five holes in 2001 and nine holes earlier this year. The 21 holes drilled to date aggregate 7,523 meters. A summary of the most recent Karakartal drill hole data with meaningful results is given below. Given the disseminated nature of the deposit, these intercepts approximate true widths. Detailed drilling results and an area map are posted to Anatolia's website (www.anatoliaminerals.com).
Depth From To Intercept Cu Au
Drill Hole (Meters) (Meters) (Meters) (Meters) (%) (gpt)
KDD-015 424.00 282.00 291.00 9.00 0.30 0.24
330.00 388.90 58.90 0.30 0.22
KDD-016 410.00 211.10 213.45 2.35 0.50 0.33
220.30 222.60 2.30 0.33 0.30
377.00 410.00 33.00 0.31 0.22
KDD-017 491.00 255.00 366.00 111.00 0.30 0.25
381.30 386.90 5.60 0.43 0.34
431.00 445.00 14.00 0.37 0.28
458.00 467.00 9.00 0.30 0.20
KDD-018 433.50 205.00 211.00 6.00 0.33 0.29
222.20 234.00 11.80 0.29 0.35
244.00 254.00 10.00 0.19 0.32
312.00 336.00 24.00 0.31 0.41
353.70 383.50 29.80 0.29 0.22
389.00 400.00 11.00 0.26 0.22
410.00 426.50 16.50 0.29 0.19
KDD-019 345.00 0.00 6.80 6.80 0.29 0.40
33.80 150.00 116.20 0.26 0.29
Including 102.10 139.30 37.20 0.31 0.34
KDD-020 477.00 244.80 296.20 51.40 0.27 0.34
Including 249.00 268.00 19.00 0.38 0.47
KDD-021 426.40 0.00 346.90 346.90 0.43 0.88
Including 0.00 235.00 235.00 0.43 1.02
Including 93.00 229.00 136.00 0.61 1.35
Drill hole KDD-021 produced the most significant results (including 0.43% Cu and 1.02 gpt Au from surface to 235 meters) and extended mineralization identified in earlier drill holes. This drill hole is located approximately 100 meters laterally to the southwest of copper-gold porphyry mineralization identified in drill holes KDD-001A, KDD-009, and KDD-012 over a potential strike length of approximately 350 meters. Other holes collared to the north and northeast of the mineralized zone (including KDD-015, KDD-016, KDD-017, and KDD-018) intercepted the mineralized zone at depth.
Edward Dowling, President and CEO of Anatolia stated, "Karakartal is characterized as a medium grade copper porphyry system with excellent gold grades relative to other similar deposits in Turkey. However, both the copper and gold grades intercepted in KDD-021 over a 235 meter interval are exceptional. The 2008 drilling at Kararkatal is complete and we expect to limit our 2009 program to completing an initial preliminary assessment. Drilling may resume once global economic conditions stabilize. Karakartal is an excellent prospect to hold in our portfolio for future development."
The Karakartal porphyry system is characterized by a dioritic to monzonitic intrusive located in a package of hornsfelded metasediments and limestones. The limestones and metasediments represent the Jurassic/Cretaceous Munzur Formation. The metasediments are the lower portion of this sequence and have been widely hornsfelded and locally mineralized by the younger intrusive event. Alteration is dominated by a sericite/pyrite phyllic phase (most commonly within the hornsfels) and a strongly developed potassically altered core within the system (most commonly in the intrusive). Mineralization is characterized by chalcopyrite, pyrite and a magnetite stockwork with some silica veinlets.
About Anatolia
Anatolia Minerals is a leader among exploration and development companies in Turkey. The Company's 100%-owned Copler Gold Project is among Turkey's largest undeveloped gold deposits. Anatolia is pursuing a disciplined strategy for growth through resource discovery and development.
Anatolia currently has 83.1 million common shares issued and outstanding, 100.5 million fully diluted. Anatolia trades on the Toronto Stock Exchange as ANO.
Cautionary Statements
Certain statements contained in this news release constitute forward-looking information, future oriented financial information, or financial outlooks (collectively "forward-looking information") within the meaning of Canadian securities laws. Forward-looking information may relate to this news release and other matters identified in Anatolia's public filings, Anatolia's future outlook and anticipated events or results and, in some cases, can be identified by terminology such as "may", "will", "could", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "projects", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts and include, but are not limited in any manner to, those with respect to commodity prices, mineral resources, mineral reserves, realization of mineral reserves, existence or realization of mineral resource estimates, the timing and amount of future production, the timing of construction of the proposed mine and process facilities, capital and operating expenditures, availability of sufficient financing, and any and all other timing, development, operational, financial, economic, legal, regulatory, political factors that may influence future events or conditions. Such forward-looking statements are based on a number of material factors and assumptions, including, but not limited in any manner, those disclosed in any other Anatolia filings, and include the ultimate determination of mineral reserves, availability and final receipt of required approvals, licenses and permits, sufficient working capital to develop and operate the proposed mine, access to adequate services and supplies, commodity prices, foreign currency exchange rates, interest rates, access to capital markets and associated cost of funds, availability of a qualified work force, and the ultimate ability to mine, process and sell mineral products on economically favorable terms. While we consider these assumptions to be reasonable based on information currently available to us, they may prove to be incorrect. Actual results may vary from such forward-looking information for a variety of reasons, including but not limited to risks and uncertainties disclosed in other Anatolia filings at www.sedar.com and other unforeseen events or circumstances. Other than as required by law, Anatolia does not intend, and undertakes no obligation to update any forward looking information to reflect, among other things, new information or futures events. The technical information set forth in this press release and the contents of this press release have been reviewed and prepared under the supervision of, and verified by, Robert Benbow, P.E, a qualified person pursuant to National Instrument 43-101 of the Canadian Securities Administration. Mr. Benbow is the Vice President, Country Manager with Anatolia Minerals Development Limited. Assays in 2001 were performed by OMAC Laboratories, in Ireland, and assays in 2008 were performed by ALS-Chemex, in Vancouver, BC, Canada, with quality control of sampling, preparation and assaying overseen by Anatolia.