Partners
The program, which included regional airborne magnetic surveys and stream-sediment geochemical surveys, outlined several large copper-gold anomalies, two of which appear to be related to porphyry-type copper-gold mineralization. These geochemical anomalies are underlain by a series of andesitic volcanic rocks with quartz-dioritic-to-quartz-monzonitic intrusives, which are associated with multi-stage alteration.
Follow-up geological mapping, combined with rock-, chip- and soil geochemical-sampling and preliminary ground geophysical surveys, have further defined two prospects. These are known as Sin and Kizilviran.
At the Sin prospect, the partners have defined a 3-by-1-km copper-gold zone. Copper mineralization is widespread, and a chalcopyrite/bornite-bearing potassic alteration zone is exposed in stream valleys below an oxidized and leached cap at the eastern end of the prospect.
Elsewhere at Tunceli, copper-gold-molybdenum mineralization has been discovered at the Kizilviran prospect. Most of the work has focused on a 1.5-km-long ridge, which is thought to represent the leached cap and overlies a zone of chalcocite enrichment. Samples from the leached cap have assayed up to 0.1% copper and average 0.2 gram gold per tonne and up to 0.06% molybdenum. Samples from the altered chalcocite zones exposed in the stream bottoms at the base of the ridge have assayed as high as 3.7% copper, up to 1 gram gold and 0.04% molybdenum. Zones of brecciation and possible extensions of the known zones remain untested.
In the coming year, efforts will be made to further evaluate the Tunceli property, as well as establish drill targets at Sin and Kizilviran.
In related news, Anatolia has raised US$2.9 million in a financing made up of 3.25 million units priced at US90 per unit. Each unit consists of one share and one share purchase warrant enabling the holder to acquire an additional Anatolia share for US$1.30 until May 20, 2004.
As part of its 4-year joint venture agreement with Anatolia, inked in 2000, Rio has agreed to provide Anatolia with US$2.5 million for joint-venture activities in Turkey in 2003. To date, Rio has funded more than US$8 million for joint-venture exploration and is earning interests in the Tunceli, Copler and Kabatas district properties. Rio can earn a 65% interest in each prospect by spending US$10.5 million on exploration and paying Anatolia US$1.5 million.
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