Cominco Resources earmarks $2.5 million for Turkey in ”90

The largely untapped mineral resources of Turkey are providing Cominco Resources International (TSE) with an important new exploration focus. Cominco, active in the country since the doors were opened to foreign investment in 1986, and encouraged by results to date, plans to spend about $2.5 million of its $10 million 1990 exploration budget in Turkey. This amount is more than will be spent by Cominco in any other country, excluding the U.S.

This year the company expects to drill about 10 prospects, the bulk of which are polymetallic massive sulphide targets found within a volcanic belt measuring 600×40 km near the Black Sea. Several gold properties, including bulk tonnage porphyry-type gold prospects, will also be drilled. All the mineralized targets were found at or near-surface and most of the ground was acquired by staking.

Jon Collins, manager for Europe, told The Northern Miner the bulk of the company’s efforts will be aimed at the Black Sea coastal belt where the company has acquired about 11,000 sq. km of prospective geology. In the western portion of the country where about 1,000 sq. km of ground was acquired, Cominco is planning work on several epithermal gold properties.

“We will be drilling a number of Kuroko-type massive sulphide situations with attractive gold and silver values in the Black Sea coastal belt this year,” Collins said, adding that this region is generally rugged but accessible. “We’ve also found a number of gold prospects in this belt that we plan to further explore this season.”

Collins said Turkey, which has never been thoroughly explored by modern techniques, represents a uniquely favorable and stable environment for investment. Exploration is conducted by a wholly owned Turkish subsidiary based in Ankara that employs a number of Turkish geologists. The work includes an ongoing program aimed at assessing other prospective areas in the country.

Cominco Resources, owned 60.9% by Cominco (TSE), operates the joint ventured Buckhorn gold mine in Nevada. It also has interests in a number of advanced gold and base metal properties, including several gold mining projects in Chile.