Taç Deposit

Currently, Mediterranean is actively working on its two 100% owned properties that saw more then US$4 million of development by Teck Cominco during the 1990's. These properties are called Taç and Çorak.

During 2006 Mediterranean spent US$3.1 million of exploration on Taç, after which it earned an undivided interest in the properties, and during 2007 Mediterranean spent US$4.5 million of exploration on Taç and Çorak.

On March 11, 2008 Mediterranean announced new NI 43-101 compliant resource estimates for Taç and Çorak. Highlights of the study are as follows:

Taç Deposit
  • Indicated resource of 1,598,417 ozs of gold at both Taç and Çorak on a gold-equivalent basis with a threshold of US$13/tonne contained metal value (and inferred resource of 730,889 ozs);
  • Indicated resource of 1,335,249 ozs of gold at both Taç and Çorak on a capped basis with a threshold of US$13/tonne contained metal value (and inferred resource of 484,276 ozs);
  • At Taç, indicated resource of approximately 58.0 million lbs of contained copper; (and inferred resource of approximately 8.0 million lbs of contained copper);
  • Also at Çorak, indicated resource of approximately 654,334 ozs of silver on a capped basis with a threshold of US$13/tonne contained metal value (and inferred resource of 887,627 oz of silver);
  • Metallurgical testing has clearly indicated flotation to be the most appropriate method of metal recovery and concentration.

The Taç deposit is predominantly underlain by andesitic volcaniclastics and flows, at the top of the Green and Cream Tuffs of Erkül (2006). It is overlain to the southeast by strongly layered turbiditic volcanogenic sandstones, conglomerates interbedded with thin shales and shale-rich limestone units. The host volcanics and overlying sedimentary rocks are believed to be Upper Cretaceous to Eocene in age and are cut by mafic- to intermediate-composition sheet intrusion.

Taç - Work to date
Taç Drill Plan (click to enlarge)

Resource Ounces