Anatolia Mineral Development announced initial Mineral Resource estimate for the Cevizlidere copper-gold-molybdenum porphyry property in Turkey. The Cevizlidere deposit is located approximately 50 km southeast of the Copler Project. Total Inferred resources for the Enriched and Protore/Fresh Zone with 445,730,000 tonnes with 0.38% Cu, 0.11g/t Au and 47.76 ppm Mo. At total of 27 holes were drilled along the 1.6 km strike distance in the project area, with 15 holes being used for grade interpolation. The mineralization remains open to the southeast for an identified 2.3 km and other exploration targets in the area remain untested.
Anatolia Minerals Development and Çalik Maden Isletmeleri A.S. (“Çalik Mining”), have formalized an agreement to create a strategic relationship. The strategic relationship will allow Çalik Mining to acquire up to a 20% interest in Anatolia’s Çöpler Gold Project. Çalik Mining will initially subscribe to a 5% interest in Çöpler for US$12.6 million paid over the next 12-months and Anatolia will grant Çalik Mining an option, until December 31, 2011, to acquire up to an additional 15% interest in Çöpler for an additional US$37.8 million, for a total consideration of US$50.4 million
Anatolia Minerals Development Ltd, announced plans to drill the large, underlying sulfide gold deposit at its Copler Gold Project in eastern central Turkey. This drill program is part of Anatolia’s current sulfide development plan, which is expected to culminate in a preliminary feasibility study by early 2010. The drill plan includes approximately 12,000 meters, designed primarily to extend and better define the gold mineralization of several known sub-vertical structures encountered during earlier drilling. Concurrently, management is continuing metallurgical testing of sulfide samples collected during the 2008 drilling program and evaluating processing alternatives.
Advanced or Above