Hasançelebi is a high-sulphidation epithermal gold-silver project which lies within the Yamadağ Volcanics of the Anatolian block, approximately 500 km SE of Ankara. Hosted within probable Miocene-age andesitic and dacitic rocks, early exploration has identified continuous alteration and mineralization over a strike length of approx. 7 km.

 

Figure 1. View east along Hasançelebi. Note silica ledges dipping to north (left).

 

Silica ledges (Figs. 1 and 2) are found outcropping close to the contact between andesitic/dacitic flows and the underlying sequence of clastic sediments and minor limestone units. Geological evidence from exploration thus far points to the silica and contained gold being stratigraphically controlled.

 

Figure 2. Geological map of Hasançelebi property – silica zones shown in red.

 

Rock chip sample results to date have identified 858 m at 0.69 g/t Au over a mean width of 7.4 m, and includes a 22 m-thick section averaging 1.16 g/t (Fig.3).

 

 

Figure 3. Central silica zone, Hasançelebi (towards east, along strike) - 22 m @ 1.16 g/t at base

 

Teck Madencilik Sanayi Ticaret A.S. ('Teck') are currently funding exploration and development at Hasançelebi under the terms of a joint-venture agreement. Teck are committed to expending US$500,000 before 31st December 2010 which will fund mapping, sampling and at least 2,000 metres of drilling.

Teck has now commenced the first phase of a 2,000 m drilling programme. This initial phase will include seven diamond drill holes totalling 1,300 m to target areas of highest gold grade, thickest silica and deepest oxidation. Mapping and sampling of other alteration zones are also underway to define further possible targets to be drill-tested during H2 2010.