Anatolia Minerals Development Ltd.: Rio Tinto Assumes Management of Tunceli Project.
Anatolia Minerals Development Limited ('Anatolia') (TSX:ANO) is pleased to announce Rio Tinto Mining & Exploration Ltd. ('Rio Tinto') has elected to assume management of the Tunceli Joint Exploration Area after spending more than $3 million there, per our Strategic Alliance Agreement. We believe Rio Tinto's direct involvement could accelerate programmatic exploration of the area to a decision point.
Initial focus will be on the Cevizlidere 'Walnut Creek' area (formerly Kizilviran), aimed at extending a large area of porphyry mineralization, including a +1,500-meter long, 250-450 meter wide area of chalcocite enrichment. Preliminary plans call for a program of detailed geologic mapping, geochemical surveys and geophysics this summer, to be followed by additional drilling. An attempted drilling campaign this winter was frustrated by an extended period of extraordinarily severe winter weather and deep snow.
Richard Moores, Anatolia's President said: "We believe Rio Tinto's 'hands-on' approach to this exciting copper porphyry province is a favorable sign, indicating a strong interest in advancing this project to an early decision point. Initial focus will be on extending mineralization previously announced at Cevizlidere, particularly of the 1.5 to 2 kilometer extension of the ridge subject to chalcocite enrichment. We will also follow-up the copper porphyry area partially tested at Sin and, hopefully, undertake initial exploration and characterization of the 30-40% of Tunceli as yet under explored."
Anatolia has been exploring in Turkey since 1996. In January 2004, Anatolia obtained 100% interest in the 5.4-million ounce gold resource at Copler (of which 3.8 million ounces are measured and indicated). Anatolia aims to reach a production decision for the shallow, leachable, 1.8 million ounces of measured and indicated oxide resources at Copler by mid-2006. The Company controls approximately 1.0 million hectares within Turkey, including four properties currently under joint exploration with Rio Tinto and five additional properties under joint venture with others.
Anatolia currently has 58.2 million common shares issued and outstanding, 70.1 million fully diluted.
This news release may contain forward-looking statements in respect of various matters including upcoming work programs and events. The results or events predicted in these forward-looking statements may differ materially from actual results or events. Anatolia disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Assays are performed by OMAC Laboratories, Ireland, and ALS-Chemex, Vancouver, BC, Canada, with quality control of sampling, preparation and assaying overseen by Anatolia, whose President, Richard C. Moores, is a "qualified person" for the purposes of applicable Canadian securities regulations.
Anatolia Minerals Development Limited (TSX:ANO)
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|Comment:||Anatolia Minerals Development Ltd.: Rio Tinto Assumes Management of Tunceli Project.|
|Date:||Mar 20, 2006|
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