Mediterranean Resources Ltd. (NEX: MNR.H) is an exploration and mining company with activities in Turkey and Albania.
The company is developing four projects located along its 12-km Red Mountain (Kızıldağ) Project in Northeastern Turkey. The projects consist of the Tac (gold/copper) deposit, the Corak (gold/zinc/lead) deposit, the Celtik (gold) exploration target and the Cevreli (gold/polymetallic) exploration target. To date, less than 20% of the 100 square kilometre Red Mountain (Kizildag) Project has received drill exploration.
Tac and Corak were the subject of an NI 43-101 resource estimate prepared by SRK in 2009 and a Preliminary Economic Assessment (also by SRK) prepared in September 2011. Current NI 43-101 compliant Indicate Resource estimate for the Taç and Çorak projects (which are 4 km apart) totals 49.5 Mt ore grading 0.99 g/t Au, 0.12% Cu, 0.12 g/t Ag, 0.25% Pb, and 0.60% Zn to a total of 2.1 Moz Au Equivalent at 1.32 g/t AuEq and Inferred Resource estimate totals 11 Mt ore grading 0.83 g/t Au, 0.14% Cu, 1.42 g/t Ag, 0.20% Pb, and 0.48% Zn. The company is currently considering its options to bring these deposits into production through open-pit mining.
The company is evolving a business line in Antimony in and around the Mediterranean basin, with initial efforts focussed in Turkey and Spain.
In Albania the company is actively seeking prospects with Gold/Copper, Chromite and PGEs. The company will be targeting properties that require low exploration effort and with a fast track to production.
NOVEMBER 03, 2014
AUGUST 25, 2014
Mediterranean Resources Announces Further Details For Its Proposed Migration To The TSX Venture Exchange
AUGUST 21, 2014
JUNE 20, 2014
Mediterranean Provides Update On Cease Trade Orders And Status Of Listing On The Toronto Stock Exchange