|  |  | 
|
 
Mediterranean Resources Ltd. ("Mediterranean") is focused on developing gold deposits in Turkey.
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 Tac and Corak.
During 2006 Mediterranean spent US$3.1 million of exploration on Tac, after which it earned an undivided interest in the properties, and during 2007 Mediterranean spent US$4.5 million of exploration on Tac and Corak.
On March 11, 2008 Mediterranean announced new NI 43-101 compliant resource estimates for Tac and Corak. Highlights of the study are as follows:
- Indicated resource of 1,598,417 ozs of gold at both Tac and Corak 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 Tac and Corak on a capped basis with a threshold of US$13/tonne contained metal value (and inferred resource of 484,276 ozs);
- At Tac, indicated resource of approximately 58.0 million lbs of contained copper; (and inferred resource of approximately 8.0 million lbs of contained copper);
- At Corak, indicated resource of approximately 107 million lbs of zinc, (and inferred resource of 132 million lbs of zinc); and indicated resource of approximately 64.0 million lbs of lead, (and inferred resource of 78.0 million lbs of lead);
- Also at Corak, 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.
Mediterranean is well funded for the development of its two advanced exploration properties, Tac and Corak, in Turkey.
Mediterranean has an operating tested management team with the experience and knowledge necessary to bring these properties to production.
|
|
