TORONTO, Nov. 5 /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 construction.
Drilling started in May 2008 and included nine diamond drill holes, aggregating 2,736 meters. A detailed breakout of drilling results and an area map are posted to Anatolia's website (www.anatoliaminerals.com). 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.
Depth From To Intercept Cu Au
Drill Hole (Meters) (Meters) (Meters) (Meters) (%) (gpt)
KDD-006 428.00
31.50 173.00 141.50 0.27 0.40
Including 31.50 71.50 40.00 0.41 0.38
And including 143.00 173.00 40.00 0.26 0.58
KDD-007 434.00
16.00 233.50 217.50 0.27 0.34
Including 17.00 29.00 12.00 0.33 0.34
And including 71.00 91.00 20.00 0.32 0.35
And including 132.30 233.50 101.20 0.30 0.41
KDD-008 362.30
42.00 62.00 20.00 0.24 0.49
And 178.50 206.50 28.00 0.27 0.37
Including 178.50 191.50 13.00 0.30 0.46
KDD-009 382.20
52.00 215.00 163.00 0.37 0.36
Including 87.00 149.30 62.30 0.44 0.47
And 265.90 308.40 42.50 0.41 0.65
KDD-011 338.00
0.00 107.30 107.30 0.11 0.29
Including 47.50 73.00 25.50 0.15 0.40
220.50 298.00 77.50 0.32 0.38
Including 259.70 291.00 31.30 0.41 0.47
KDD-012 364.00
3.50 49.00 45.50 0.22 0.14
100.00 347.00 247.00 0.32 0.47
Including 206.00 319.00 113.00 0.42 0.64
Edward Dowling, President and CEO of Anatolia stated, "These results are in line with our expectations and support additional drilling, which is continuing this fall. We continue to view Karakartal as a medium sized, medium grade copper-gold porphyry that will benefit from excellent mining terrain and its close proximity to our Copler Gold Project. In addition to the ongoing drilling, we are completing preliminary flotation tests and expect to produce an initial resource estimate near year's end. A NI 43-101 preliminary assessment is planned for late in the first quarter 2009. Management is taking a disciplined approach to allocating the Company's discretionary exploration budget for 2009. Plans for additional drilling will depend on the results of this fall's drilling, metallurgical test results and the preliminary assessment."
The Karakartal porphyry system is characterized by a dioritic to monzonitic intrusive intruded into a package of hornfelsed 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 hornfelsed and locally mineralized by the younger intrusive event. The upper limestones cap the area with a thick sequence of several hundred meters.
Alteration is dominated by a sericite/pyrite phyllic phase (most commonly within the hornfels) and a strongly developed potassically altered core to the system (most commonly within the intrusive). Mineralization is characterized by chalcopyrite, pyrite and a magnetite stockwork with some silica veinlets.
The drilling identified mineralized potassically altered diorite to a depth of approx 400m in the core of the system.
Anatolia drilled five holes at Karakartal in 2001 (see Anatolia News Release dated May 23, 2001; Karakartal was previously referred to as Kabatas). A summary of the previous drill hole data with meaningful results is given below. Given the disseminated nature of the deposit, these intercepts approximate true widths.
Depth From To Intercept Cu Au
Drill Hole (Meters) (Meters) (Meters) (Meters) (%) (Gpt)
KDD-001A 441.10
6.00 171.00 165.00 0.37 0.52
Including 6.00 80.00 74.00 0.27 0.23
And including 80.00 171.00 91.00 0.45 0.76
And 281.00 319.40 38.40 0.39 0.47
And 329.00 337.00 8.00 0.46 0.46
And 346.00 387.00 41.00 0.42 0.38
KDD-005 298.30
101.00 120.00 19.00 0.23 0.64
And 216.00 298.30 82.30 0.26 0.26
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.