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 |   Mon Aug 21, 2006
Mediterranean Continues To Extend Mineralization At TAC In Northeastern Turkey
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| | Vancouver, B.C., Aug 21, 2006 - Mediterranean Resources Ltd. (TSX-V: MNR) (the "Company") today announced additional drill hole results confirming the presence of a potential resource in both the T-6 and Karsibayir mineralized zones on the Tac property held under option from Teck Cominco Limited's Turkish subsidiary (TCAM).
Significant gold intersections have been returned from a drill fence of reverse circulation drill holes on the T-6 mineralized zone which enhances the resource potential of this zone. Drill holes T-56, T-57 and T-58 were drilled to an average depth of 230 metres and are a continuation of the drill fence of holes T-50 and T-53, the results from which were reported August 8, 2006. The results from diamond drill holes TD-51 and TD-55, drilled to depths of 254 metres and 284 metres respectively approximately 500 metres to the northeast of the T-6 zone verify the near surface mineralization at Karsibayir. Particularly, the results from TD-55 drilled outside the boundary of the "gold corridor" indicate the mineralization is open to the north of the Karsibayir zone in an area designated the Ugur zone.
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)
T-56 T-6 Valley 37 41 4 1.02
And 51 52 1 2.06
And 120 125 5 1.85
Including 121 122 1 7.60
And 147 150 3 20.68
Including 147 148 1 48.50
And 211 212 1 1.23
T-57 T-6 Valley 45 50 5 1.55
Including 46 47 1 3.38
And 177 192 15 0.99
Including 178 190 12 1.03
Including 182 184 2 2.23
T-58 T-6 Valley 69 71 2 0.69
And 74 75 1 0.6
And 140 141 1 1.07
And 147 148 1 0.56
TD-51 Karsibayir 4.5 31.1 26.6 0.77
Including 4.5 12.1 7.6 1.05
Including 19.5 31.1 11.6 0.76
Including 28.7 31.1 2.4 1.14
TD-55 Ugur 43.5 43.7 0.2 21.5
And 189.25 190 0.75 5.23
And 233.9 238.2 4.3 3.24
Including 236.4 238.2 1.8 5.82
And 261.9 268 6.1 2.4
Including 266.4 268 1.6 3.19
Including 267.8 268 0.2 14.4
Approximately 7,500 metres of a 12,000 metre drill campaign have been completed. Seven diamond drill holes have been completed in the Karsibayir mineralized zone and three in the Ugur zone. Nine reverse circulation holes and one diamond drill hole have been completed in the T-6 mineralized zone and seven reverse circulation holes have been completed to the southwest in the Sezai Ridge zone. All holes have been drilled to an average depth of 250 metres. Drilling is proceeding in the Sezai Ridge and Kirmizitepe mineralized zones which together comprise a 2 kilometre southwest extension of the mineralized "gold corridor" from the T-6 and Karsibayir zones. Assay results for 12 of 27 drill holes have been reported to date.
A geologic model of the mineralized zones contained within the "gold corridor" will be developed and used for a NI 43-101 compliant resource estimate scheduled to be completed by mid-November, 2006. A preliminary assessment or "economic scoping study", based on the results of the resource estimate and metallurgical testing with input from an ongoing environmental baseline study, will be initiated at the end of 2006.
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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