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 |   Mon Dec 11, 2006
Mediterranean Announces New Drill Results At Tac - Completes 15,000 Metre Drilling Campaign -
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| | Vancouver, B.C., December 11, 2006 - Mediterranean Resources Ltd. (TSX-V: MNR) (the "Company") today announced additional significant drill results from the T-6 Valley and Karsibayir mineralized zones on the Tac gold property held under option from Teck Cominco Limited's Turkish subsidiary (TCAM).
Significant gold intersections have been returned from two diamond drill holes, TD-87 and TD-83, drilled to depths of 253 metres and 283 metres respectively from the same location on the Karsibayir hilltop but with different azimuths. TD-87 intersected a near surface interval of 87.6 metres grading 2.03 g/t Au including bonanza type gold values of 6.61 g/t Au over 11.4 metres, 56.54 g/t Au over 1.05 metres, 84.60 g/t Au over 0.4 metres and 56.50 g/t Au over 0.7 metres confirming significant mineralization in this zone. Significant gold intersections have also been returned from a diamond drill hole, TD-88, drilled to a depth of 305 metres in the T-6 Valley zone. This hole, which confirmed the continuity of high grade deeper intervals of other holes drilled in the T-6 Valley zone, intersected an interval of 33.3 metres grading 1.95 g/t Au including a bonanza type gold value of 190.50 g/t Au over 0.2 metres. These results, reflective of those obtained during this drill campaign in the Sezai Ridge, T-6, Karsibayir and Ugur mineralized zones; show that this deposit is amenable to either open pit or underground mining.
Peter Guest, Mediterranean President & CEO said, "We have now completed the first drilling campaign at Tac since the 1990's. The approximately 15,000 metres of drilling in 63 diamond and reverse circulation drill holes during 2006 more than triples the amount of historical metreage drilled. Our campaign has decisively confirmed the existence of the historically identified mineralized zones and we have considerably expanded these known zones at depth and over an approximate 1.5 kilometre strike length. These results will now be used to both develop a geological model of the mineralized areas and produce an NI 43-101 compliant resource estimate in early 2007."
Assay results from approximately 2,800 metres of drilling in 11 drill holes are pending. The results from these assays, expected by the end of December 2006, will be released as they become available.
Please see the table below for detailed results and use the following http://www.medresources.ca/s/Maps.asp for a map of the Tac project area showing the mineralized gold zones and drill hole locations.
Hole No. Zone From To Interval Au
(m) (m) (m) (g/t)
TD-83 Karsibayir 18 19.5 1.5 1.11
And 77.5 79 1.5 1.11
And 138.1 138.4 0.3 7.35
And 182.4 189.6 7.2 2.21
Including 182.4 185.6 3.2 3.25
Including 182.9 184.4 1.5 5.33
And 205.7 210.6 4.9 1.15
TD-87 Karsibayir 8.7 18.3 9.6 2.32
Including 10 10.7 0.7 14.25
And 39.1 126.7 87.6 2.03
Including 39.1 50.5 11.4 6.61
Including 39.1 40.15 1.05 56.54
Including 49.6 50.5 0.9 15.53
Including 62.6 63.1 0.5 11.80
Including 77.1 78.3 1.2 4.89
Including 103.8 104.2 0.4 84.60
Including 126 126.7 0.7 56.50
And 151.4 154.6 3.2 3.42
And 171.45 171.65 0.2 23.00
TD-88 Valley 7.7 9.5 1.8 1.56
And 62.8 64.6 1.8 0.93
And 108.1 113.3 5.2 0.65
And 120.5 122.5 2.0 1.29
And 136.1 136.5 0.4 9.86
And 185.1 185.5 0.4 2.40
And 204.5 237.8 33.3 1.95
Including 204.5 204.7 0.2 190.50
Including 236.9 237.8 0.9 7.58
Dr. Peter Guest is the qualified person who has reviewed the data in this news release.
About Mediterranean Resources
Mediterranean Resources is focused on an emerging mineral region of Turkey, where it is developing two advanced exploration stage gold properties, Tac and Corak, which are held under option from Teck Cominco Limited's Turkish subsidiary (TCAM). The Company suggests that the resource potential which predates and is noncompliant with NI 43-101, surmised from historical exploration drilling and soil sampling completed by TCAM in the early 1990s in the T-6 mineralized zone, is 5 million tonnes grading 3 to 4 g/t gold at Tac and 1.8 million tonnes averaging 10 g/t gold at Corak. For a complete description of the Company's option to acquire the Tac and Corak properties, historical work done on the properties, and risks applicable to the Company and its operations in Turkey, please refer to the Company's filing statement dated February 24, 2006 and the technical reports on the properties dated November 20, 2005, all as filed on SEDAR.
Estimates of gold resources are historical in nature, predate and are noncompliant with NI 43-101. Mediterranean is not treating the historical estimates as current mineral resources or reserves. Mediterranean has not undertaken any independent investigation of the resource estimates nor has it independently analyzed the results of the previous exploration work in order to verify the resources, and therefore the historical estimates should not be relied upon. However, Mediterranean believes that these historical estimates provide a conceptual indication of the potential of the occurrences and are relevant to ongoing exploration.
For further information please contact:
Peter J. Guest
President & CEO
604-669-3397
www.medresources.ca
Andreas Curkovic
The Equicom Group
416-815-0700 x262 or
1-800-385-5451 x262
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. |
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