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 |   Tue Aug 8, 2006
Mediterranean Continues to Expand Gold Zones at Tac In Northeastern Turkey
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| | Vancouver, B.C., Aug 8, 2006 - Mediterranean Resources Ltd. (TSX-V: MNR) (the "Company") today announced drill hole results that continue to substantiate the presence of a potential resource in both the T-6 and Karsibayir mineralized zones of the Tac property held under option from Teck Cominco Limited's Turkish subsidiary (TCAM).
Drill hole TD-49, drilled to a depth of 250 metres from the top of Karsibayir hill returned significant gold intersections that verifies the near surface mineralization of Karsibayir. A drill fence comprising drill holes T-50 and T-53 drilled to depths of 173 metres and 238 metres respectively, also returned significant gold intersections confirming and further extending the mineralization in the T-6 valley zone. These results serve to both widen to the northeast the defined mineralized "gold corridor", approximately 300 metres wide and 1 kilometre long in the area of the T-6 zone and continues to substantiate the combined potential resource of both T-6 and Karsibayir.
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-49 Karsibayir 5.9 28.9 23 0.73
Including 11.8 26.15 14.35 0.84
Including 22.4 27.8 5.4 1.11
And 108.15 119.55 11.4 0.93
Including 108.15 108.85 0.7 8.19
T-50 T-6 Valley 98 102 4 5.93
Including 101 102 1 20.80
T-53 T-6 Valley 123 124 1 5.46
And 157 178 21 1.46
Including 169 170 1 15.65
Approximately 6,400 metres of an expanded 12,000 metre drill campaign have been completed. Seven diamond drill holes have been completed in the Karsibayir mineralized zone and eight reverse circulation holes and one diamond drill hole completed in the T-6 mineralized zone, all to an average depth of 250 metres. Drilling is also proceeding in the Sezai Ridge and Kirmizitepe mineralized zones which comprise a 2 kilometre southwest extension of the mineralized "gold corridor".
A geologic model of the historic resource area at T-6 together with the newly identified additional mineralized zones along the "gold corridor" will be developed and used for an NI 43-101 compliant resource estimate scheduled to be completed at the end of 2006. An environmental baseline study has been initiated at Tac and metallurgical testing is scheduled for completion by the end of October. The results from this, together with those from the resource estimate will form the basis of a preliminary assessment to 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 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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