Having already exceeded their 2001 exploration budget at the Cukurdere gold project in Turkey, Anatolia Minerals Development (YMC.U-V) and Rio Tinto (RTP-N) have earmarked another $500,000 to accelerate and follow up on recent positive drill results.
The new holes will further test an area of high-grade mineralization intersected in the 800-by-500-meter marble cover zone. The holes will also test for possible extensions delineated by ongoing detailed mapping and sampling. In all, a program of 19 reverse circulation and core holes are planned.
Highlighting recent drilling in the area is a 53-metre interval running 2.7 grams gold and 17.3 grams silver per tonne.
Meanwhile at the Karagoz gold prospect in south-central Turkey, the partners have completed 10 reverse circulation scout holes. Assays are expected shortly. Drilling was to be limited to four holes on a 100-by-100-metre area on the geochemical anomaly, but initial results led the to the sinking of 6 scout holes some 2 to 5 km northeast of the original area of focus.
The gold anomaly at Karagoz extends over a 3.5-by2-km area, with most samples returning more than 0.05 gram gold per tonne; nearly half run more than 0.1 gram. A 1-sq.-km area averages about 0.3 gram gold, with the highest value being 7.8 grams gold. The anomaly is open in all directions and partially overlies a magnetic anomaly measuring 2 km in diameter.
Follow-up geochemistry, geophysics and detailed mapping are planned.
Encouraged by the latest results at Karagoz, Rio is carrying out further work at the northwest end of a 30-by-8-km gold anomaly, and has decided to release the Uckapili gold project back to Anatolia. The shear zone mapped at Uckapili reaches up to 600 metres in width and has been traced for more than 6 km. Visible free gold is frequently associated with stibnite. Limited testing on a 5 sq. km soil geochemical anomaly returned up to 15 grams gold in bedrock and float samples.
Rio Tinto is earning a 70% interest in the Cukurdere property by spending US$10.5 million on exploration and making payments of US$1.5 million. As part of a 4-year agreement with Anatolia, Rio Tinto is also interested in the Karagoz gold prospects. In addition to dropping the Uckapili prospect, Rio also recently dropped the Kabatas copper prospect. Instead, Rio will raise the Karagoz prospect to project earn-in status and advance $300,000 for initial work.
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