Cominco Resources International (TSE) has added a new gold discovery to its exploration projects in Turkey.
The find was made on the Saray property, 5 km from the Black Sea near the town of Fatsa. Cominco is already exploring a copper deposit and a gold-silver deposit on the Cerateppe property, which is farther east, near the border with Georgia. All three deposits are in the Pontide volcanic belt. Trenches and road cuts across a large mineralized structure, within an area measuring 550 by 220 metres, yielded an average grade of 1.4 grams gold per tonne. The Ridge zone is within a still larger (600-by-400-metre) area, from which 230 chip samples, taken from 2,300 metres of trenching, averaged 0.9 grams per tonne.
High-grade mineralization is present within the Ridge zone, as is indicated by a sample representing a 10-metre width which assayed 42 grams per tonne. “So far, this discovery is based only on surface sampling,” says Cominco Resources President George Tikkanen. “But we’ve done quite a lot of sampling and we plan to do some initial drilling to confirm these values at depth.” He adds that the sampling indicates gold values over a vertical range of 200 metres (along the slope of a hill) and it is expected these values will persist at some depth.
The drilling will test both the high-grade mineralization as well as the broader target area, with the objective being to outline a bulk-tonnage deposit amenable to open-pit mining with a low stripping ratio. The drill program will start in early August with three diamond drill rigs and one reverse circulation drill.
The Saray prospect is held 50-50 by Cominco Resources and Cominco Ltd. (TSE).
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