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 |   Mon Sep 17, 2007
Mediterranean Continues Expansion Of Polymetallic Potential At Corak
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| | Vancouver, B.C., September 17, 2007 - Mediterranean Resources Ltd. (TSX-V: MNR, Frankfurt: MHM1) (the "Company") today announced drill hole results confirming extensions of polymetallic mineralization to the north and northwest of the South Zone of the Corak gold property held by the Company in northeastern Turkey.
Six diamond drill holes drilled to an average depth of 232 metres returned gold and base metal intersections of continuous quartz veining that extend the continuity of the mineralization 700 metres to the north and northwest of the South Zone. These holes were all drilled on a 90 degree heading and dip angle of 60 degrees, except for one hole, CD-119, which was drilled on a 270 degree heading. CD-105 drilled to a depth of 185 metres in the South Zone returned values of 3.66 % Pb and 5.43 % Zn over 0.6 metres and 17.55 g/t gold over 0.3 metres. CD-116 drilled to a depth of 260 metres 700 metres to the north of CD-105 returned values of 2.8 g/t gold over 3.0 metres, 3.39 % Pb and 5.93 % Zn over 1.1 metres and 4.97 % Zn over 0.3 metres. CD-121 drilled to a depth of 250 metres and 200 metres to the northwest of CD-105 returned 8.21 g/t gold over 1.6 metres. A drill fence of three holes, CD- 123, CD-119 and CD-102 was drilled approximately 400 metres to the north and northwest of CD-105. CD-123 drilled to a depth of 300 metres returned values of 8.41 g/t gold over 2.5 metres and 1.92 g/t gold over 6.8 metres including 8.25 g/t gold and 4.55 % Zn over 1.0 metre. Another interval returned 3.03 g/t gold over 11.3 metres. CD-119 drilled to a depth of 156 metres and approximately 100 metres to the northeast of CD- 123 returned a bonanza grade of 793.0 g/t gold and 14.45 % Pb and 25.7 % Zn over 0.2 metres. Another interval returned 6.9 % Pb and 9.28 % Zn over 0.7 metres. CD-102, drilled to a depth of 243 metres and approximately 50 metres to the north of CD119, returned intervals of 2.45 g/t gold over 0.2 metres, 6.9 % Pb over 0.20 metres and 3.82 % Pb over 0.3 metres. In all cases, the silver content is material. These drill hole results confirm that gold and base metal mineralization in the South zone extends to the north and northwest and as well as being open to the northeast and at depth as reported by news release dated August 9, 2007.
The historic resource potential at Corak, surmised from exploration drilling and soil sampling completed by a major mining company in the early 1990s, which predates and is non-compliant with NI 43-101, is 1.8 million tonnes averaging 10 g/t gold. As a qualified person has not performed sufficient work to classify the historical estimate as current mineral resources, the Company is not treating the historical estimate as current mineral resources and the historical estimate should not be relied upon.
Refer to the table below for detailed results and http://www.medresources.ca/s/Maps.asp for a map of the Corak project area showing the mineralized zones and drill hole locations.
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CD-102 From To Interval Au Ag Cu Pb Zn
(m) (m) (m) (g/t) (g/t) (ppm) (ppm) (ppm)
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13.7 14.5 0.8 1.33 26.20 2,690 15,500 3,380
and 20.0 20.6 0.6 0.73 2.10 1,650 2,040 5,380
and 29.7 31.0 1.3 0.43 9.18 596 2,027 5,732
and 32.9 33.1 0.2 0.03 8.00 1,620 10,300 1,615
and 36.2 36.4 0.2 0.02 33.40 6,130 69,000 2,600
and 50.7 50.9 0.2 2.45 2.50 285 4,920 11,400
and 60.3 60.6 0.3 0.01 1.10 273 1,210 5,970
and 68.9 69.5 0.6 0.14 1.20 204 1,675 5,950
and 80.1 82.2 2.1 0.09 2.25 1,568 2,447 9,360
and 82.6 82.9 0.3 0.06 3.60 429 12,200 4,330
and 92.7 94.1 1.4 0.46 2.14 92 6,272 9,964
and 97.9 99.2 1.3 0.02 0.60 91 847 5,870
and 113.4 115.9 2.5 0.06 1.31 238 2,257 7,038
and 123.0 123.3 0.3 0.05 1.20 690 3,360 16,400
and 126.0 126.2 0.2 0.36 3.40 2,610 5,540 8,960
and 135.8 136.1 0.3 0.09 14.40 8,590 38,200 8,460
and 142.1 144.2 2.1 1.72 4.79 1,335 3,643 11,549
and 151.4 151.7 0.3 0.13 1.50 164 2,490 7,440
and 183.7 184.0 0.3 0.06 1.10 91 2,370 15,500
and 205.8 206.3 0.5 0.20 1.30 63 2,190 19,800
and 208.4 209.7 1.3 0.65 0.84 501 1,634 5,415
and 215.5 215.7 0.2 0.06 0.30 224 1,070 6,970
and 223.4 223.9 0.5 0.54 2.90 3,720 4,710 18,800
and 236.7 238.2 1.5 0.06 0.90 140 3,030 5,930
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CD-105 From To Interval Au Ag Cu Pb Zn
(m) (m) (m) (g/t) (g/t) (ppm) (ppm) (ppm)
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12.1 12.4 0.3 0.09 3.00 722 7,280 16,800
and 23.5 23.9 0.4 0.07 1.40 180 1,470 16,300
and 27.4 27.8 0.4 0.06 3.20 645 2,160 7,320
and 38.1 38.3 0.2 4.93 4.30 646 2,500 7,500
and 40.0 43.0 3 0.22 1.46 352 4,162 14,120
and 49.0 49.3 0.3 0.21 0.90 133 1,540 9,870
and 55.1 56.0 0.9 1.35 9.10 1,420 5,750 4,070
and 59.7 60.3 0.6 1.09 14.10 9,060 36,600 54,300
and 86.4 86.8 0.4 0.11 5.40 1,075 16,400 3,690
and 92.5 93.9 1.4 0.28 16.42 1,820 31,689 17,704
and 103.3 104.0 0.7 1.05 0.80 98 284 826
and 104.8 105.1 0.3 0.04 1.10 76 7,280 15,600
and 138.2 138.4 0.2 1.61 2.70 101 323 157
and 142.6 142.8 0.2 0.07 1.90 680 4,860 5,900
and 148.9 149.7 0.8 0.23 2.60 3,030 6,240 16,300
and 153.3 153.6 0.3 0.09 8.90 1,475 14,800 17,300
and 164.1 167.0 2.9 1.66 0.92 256 664 927
and 169.1 169.5 0.4 0.04 0.80 44 1,350 8,870
and 179.5 181.2 1.7 3.66 1.20 1,528 230 714
inc 180.9 181.2 0.3 17.55 2.00 1,700 495 1,820
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CD-116 From To Interval Au Ag Cu Pb Zn
(m) (m) (m) (g/t) (g/t) (ppm) (ppm) (ppm)
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3.4 4.1 0.7 0.20 10.10 26,500 2,010 1,590
and 9.4 9.9 0.5 0.26 3.10 723 5,030 7,210
and 15.6 16.5 0.9 0.11 1.51 241 1,943 5,179
and 25.9 27.1 1.2 0.21 1.40 152 332 19,600
and 48.3 49.3 1 0.17 2.90 613 2,740 5,570
and 56.1 56.3 0.2 0.04 4.30 578 11,100 1,690
and 83.4 83.6 0.2 0.05 11.10 6,810 2,090 3,640
and 92.5 95.7 3.2 0.23 4.21 1,087 5,474 3,128
and 124.7 124.9 0.2 0.01 8.70 539 12,600 110
and 142.2 148.1 5.9 0.07 2.44 371 2,960 7,539
and 151.3 152.6 1.3 0.10 1.83 165 4,727 9,808
and 156.0 156.3 0.3 0.12 2.00 59 1,135 12,600
and 178.1 187.4 9.3 0.23 0.73 141 1,301 3,148
and 205.6 205.9 0.3 0.20 2.80 2,160 9,700 49,700
and 212.9 213.2 0.3 0.04 0.90 5,760 309 319
and 215.2 215.6 0.4 0.05 2.40 8,030 323 276
and 223.1 226.1 3 2.80 2.40 334 2,255 2,615
and 234.8 235.9 1.1 0.14 10.37 1,329 33,867 59,278
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CD-119 From To Interval Au Ag Cu Pb Zn
(m) (m) (m) (g/t) (g/t) (ppm) (ppm) (ppm)
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0.0 17.2 17.2 0.02 0.85 561 356 5,460
and 19.4 23.6 4.2 0.30 8.51 864 6,031 14,571
and 38.0 38.3 0.3 0.08 2.60 1,240 13,300 9,960
and 43.7 44.0 0.3 0.04 0.60 75 1,070 5,400
and 55.4 56.1 0.7 1.70 0.70 153 3,930 9,480
and 95.0 95.2 0.2 0.05 4.40 369 19,600 43,200
and 96.7 96.9 0.2 793.00 82.20 8,100 144,500 257,000
and 98.2 99.4 1.2 1.22 0.20 28 265 886
and 102.6 103.3 0.7 0.32 1.10 133 5,630 7,670
and 125.8 129.9 4.1 0.07 2.77 1,565 12,787 18,558
inc 129.2 129.9 0.7 0.14 13.60 8,850 69,000 92,800
and 134.4 135.9 1.5 0.29 1.12 184 515 1,000
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CD-121 From To Interval Au Ag Cu Pb Zn
(m) (m) (m) (g/t) (g/t) (ppm) (ppm) (ppm)
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3.0 4.6 1.6 8.21 1.70 376 938 5,100
and 7.6 8.8 1.2 0.06 0.70 188 2,300 11,600
and 21.9 22.2 0.3 0.05 1.50 74 2,010 5,520
and 70.6 71.3 0.7 1.17 1.40 154 3,330 7,700
and 96.2 98.2 2 0.02 1.57 631 5,146 2,559
and 103.7 105.5 1.8 0.03 1.60 656 4,660 5,490
and 108.5 108.9 0.4 0.07 3.50 12,950 342 471
and 149.1 151.9 2.8 0.30 2.24 491 13,263 15,990
and 208.3 208.5 0.2 0.05 0.80 290 2,080 7,390
and 223.9 225.2 1.3 0.34 1.01 239 7,077 15,489
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CD-123 From To Interval Au Ag Cu Pb Zn
(m) (m) (m) (g/t) (g/t) (ppm) (ppm) (ppm)
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37.0 39.4 2.4 0.04 1.30 114 3,189 8,172
and 51.7 52.4 0.7 0.71 7.03 2,034 4,786 4,734
and 63.4 63.8 0.4 0.02 4.20 542 9,380 13,100
and 81.2 82.4 1.2 0.01 1.53 311 5,237 14,277
and 119.3 124.5 5.2 0.08 2.41 181 1,561 3,044
and 143.6 146.1 2.5 8.41 11.07 875 1,960 11,854
and 149.0 150.2 1.2 0.02 0.77 63 459 3,927
and 173.4 175.8 2.4 0.09 1.48 101 1,438 4,341
and 190.6 197.4 6.8 1.92 1.60 400 3,235 12,451
inc 192.0 193.0 1 8.25 5.30 1,120 11,400 45,500
and 213.8 225.2 11.4 0.74 0.70 313 595 463
and 245.1 248.2 3.1 0.04 1.20 182 2,184 6,755
and 250.0 250.9 0.9 4.64 16.00 43,900 112 232
and 260.1 271.4 11.3 3.03 2.13 120 1,541 2,687
and 285.2 300.0 14.8 0.03 0.50 98 1,326 3,331
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There is one diamond drill rig and a reverse circulation rig operating at site. Approximately 11,200 metres of drilling has been completed at Corak. Assay results, which are taking approximately eight weeks to be received from the time holes are drilled and logged, will be released as they become available. The 20,000 metre campaign is expected to be completed by the end of November, 2007 and a NI 43-101 compliant resource estimate completed by March 31, 2008.
Dr. Peter Guest is the qualified person who has reviewed the data indicated in this news release. The ALS Chemex Vancouver laboratory is using standard fire assay and atomic absorption methods in performing all gold and multi-element analyses. True widths of the narrow high grade veins reported are indeterminable at this stage.
About Mediterranean Resources
Mediterranean Resources Ltd. (the "Company") acquires and develops advanced stage mineral properties of demonstrated potential. Currently the Company is actively working on its two 100% owned properties in Turkey, Tac and Corak, that lie along a common mineralized trend with Corak approximately 8 kilometres to the southwest of Tac. These properties experienced more than US$4 million of exploration by a major international mining company during the early 1990's and US$3.1 million of exploration by the Company in 2006 which led to the Company acquiring an undivided interest in them.
During 2006, the Company outlined at the Tac Property a NI 43-101 compliant Indicated Resource of 773,313 ozs of gold and 34,220,429 lbs of copper on an uncapped basis with average grades of 2.01 g/t gold and 0.13% copper at a 1.0 g/t gold cut-off. The Company is conducting a 10,000 metre drill program at Tac with the goal of updating the compliant resource estimate by the first quarter, 2008. The Company is also carrying out a 20,000 metre drill campaign at Corak with the goal of completing a NI 43-101 compliant resource estimate also by the end of the first quarter, 2008. Please visit www.medresources.ca for additional information.
For further information please contact:
Dr. Peter J. Guest
President & CEO
604-669-3397
www.medresources.ca
Jag S. Sandhu
VP Corporate Development
604-306-1950
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. |
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