Cukurdere Main zone tested

The latest batch of reverse-circulation holes drilled by partners Anatolia Minerals Development (YMC.U-V) and Rio Tinto (RTP-N) on the 300-by-600-metre Main zone at the Cukurdere gold project in Turkey, have returned some short intervals grading better than 1 gram gold per tonne.

Hole CRC-21 was collared 100 metres south of CDD-1, and cut 149 metres (from surface) grading 0.4 grams gold, including 14 metres (from 74 metres below surface) of 1.3 grams gold.

Another 125 metres to the south-southeast, hole CRC-22 cut 148 metres (from surface) averaging 0.3 grams gold, including 21 metres 1.3 grams of gold in 2 zones. The hole bottomed in gold mineralized intrusive.

Hole CRC-23, drilled halfway between CDD-2 and CDD-4, was highlighted by a 8-metre interval (from 8 metres below surface) grading 2.3 grams gold, and 18.2 metres (from 30 m) of 1.1 gram gold. Two other intervals in the hole averaged 0.3 grams gold. The hole was lost at a depth of 48 metres. Offset hole 24-a averaged 0.3 grams gold before being lost at a depth of 77 metres.

Hole CRC-24, drilled 140 metres south of CRC-23, returned 49 metres (from surface) grading 0.6 grams gold, including 11 metres grading 1.2 grams gold. The hole was lost at a depth of 49 metres.

Finally, hole CRC-25, an offset to CDD-5, is highlighted by 48-metre interval running 2.3 grams gold, and a 20-metre section averaging 3.6 grams gold. Two other intervals (30 m and 12 m) ran 0.3 grams gold. The hole was lost at a depth of 110 metres and bottomed in mineralization averaging 4.1 grams gold.

Hole CRC failed to cut significant mineralization.

Previously collared on the main zone, core hole CRC-7, cut two zones totalling 9 metres grading 2.3 grams gold, beginning at 22 and 53 metres down-hole. Stepout hole CRC-8A, 145 metres northeast of CRC-7 cut 32 metres of 1.4 grams gold per tonne, starting at 2 metres below surface. The partners believe that the two holes represent the northwest and northern edge of the main gold-mineralized zone.

The partners intend to launch an aggressive drilling program, including core drilling, at Cukurdere, including core drilling once maintenance of the drill rig, analysis of all drilling to date and drilling of a few scout holes at the Karagoz gold prospect is complete.

Although already over budget at Cukurdere, the joint venture plans an additional $500,000 of work to follow up on positive drill results. Drilling will aim at better defining high-grade mineralization intersected in the 800-by-500-metre marble cover zone and other possible extensions uncovered by ongoing detailed mapping and sampling.

Rio Tinto is earning a 70% interest in the 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 Uckapili and Karagoz gold prospects. Also part of the deal was the Kabatas copper prospect, which Rio recently dropped. Instead, Rio will raise the Karagoz prospect to project earn-in status and advance $300,000 for initial work.