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 |   Wed Apr 4, 2007
Mediterranean Announces Commencement of Economic Scoping Study for Tac in Turkey
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| | Vancouver, B.C., April 4, 2007 - Mediterranean Resources Ltd. (TSX-V: MNR) (the "Company") is pleased to announce that it has initiated a NI 43-101 compliant economic scoping study (preliminary assessment) and initial financial evaluation for the Company's Tac gold property in northeastern Turkey. The study will be prepared by Wardrop Engineering Inc's. office in London.
The study will be based on the NI 43-101 compliant resource estimate for Tac announced on February 7, 2006 which was also prepared by Wardrop Engineering Inc. The resource estimate was prepared on two mineralized zones within the Tac property which exhibit the essential characteristics of high sulphidization epithermal gold and base metal mineralization. These zones, the Copper Creek-Ugur Thrust zone and Karsibayir zone were determined to contain potentially economic concentrations of both gold and copper. Both indicated and inferred resources determined in the compliant resource estimate will be used in the economic evaluation. The economic evaluation will determine the best overall economic model for a range of metal prices using a Whittle pit optimization for an open pit mine, metallurgical factors determined from bench scale metallurgical tests and the definition of a preliminary project configuration. The study is expected to be completed by mid year, 2007 and is the first step to be taken at examining the economics of placing Tac into production.
About Mediterranean Resources Ltd.
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, that saw more then US$4 million of development by a major company during the 1990's.
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. During 2007, the Company will continue drilling the Tac Property with a goal of increasing these resources. In 2007, the Company will also be drilling the Corak Property with the goal of completing a NI 43-101 compliant resource. Please visit www.medresources.ca for additional information.
For further information please contact:
Peter J. Guest
President & CEO
604-669-3397
Jag S. Sandhu
VP Corporate Development
604-306-1950
www.medresources.ca
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. |
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