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 |   Mon May 8, 2006
Mediterranean Commences Drilling Campaign In Turkey
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| | Vancouver, B.C., May 8, 2006 -- Mediterranean Resources Ltd. (TSX-V: MNR) (the "Company") today announced that drilling has begun on its prospective gold properties in Turkey known as the Tac and Corak properties held under option from Teck Cominco Limited's Turkish subsidiary (TCAM).
By news release dated April 5, 2006, the Company announced it had entered into a Services Agreement with TCAM to carry out a 10,000 metre drill program at Tac and a 6,000 metre drill program at Corak. Two diamond drill rigs are now on site at Tac. The first two 250 metre holes have been drilled and logged. The third and fourth holes have been started. A third reverse circulation drill rig is to be mobilized to the Tac property by the end of May 2006. Drilling will commence at Corak in early June 2006. The core from diamond drill holes will be split, with one-half to be securely stored, and the other half processed and airlifted to the ALS Chemex Laboratory in Vancouver, B.C. for analysis. Results are expected to be received within three weeks from the time the hole is drilled and logged.
The purpose of the drill program is to verify historical resource figures earlier estimated by Teck Cominco and to significantly expand the known zone of mineralization. Based on the results of the drill program, a geological model of the resource area will be developed and used for a NI 43-101 compliant resource estimate, expected to be completed by the end of 2006. This, together with environmental base line studies and metallurgical testing will form the basis for an economic scoping study to be initiated at the end of 2006.
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. From work completed in the early 1990s by Teck Cominco, the properties have historical resource potentials, suggested by exploration drilling and soil sampling, of 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 Guest
President & CEO
604-669-3397
Andreas Cukovic
The Equicom Group
416-815-0700 x262
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. |
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