Aldridge
Minerals drills high-grade core at Yenipazar
deposit - Intersects 34
metres of 5.78 g/t Gold, 1.11% Copper, and 3.9 %
Zinc
Vancouver, British
Columbia, Canada - October 11, 2007. Aldridge Minerals Inc.
(“Aldridge” or “the Company”), (TSX-V: AGM),
announced today drill results from its ongoing resource definition program
for the Yenipazar Au-Ag-Cu-Pb-Zn
deposit. Results of select drill holes, including hole YP-149 the
richest intersection so far in the Yenipazar
deposit, are listed below (for complete results, please see
www.aldridgeminerals.com). Assaying was performed by ALSChemex
(Vancouver).
The current drill
campaign has demonstrated mineralization with grades, thickness and width
similar to the deposit average as determined in the last
NI 43-101-compliant study from May 2007. The deposit
strike-length has been extended to 1,700 m., which is more than three
times the strike length used for the last NI 43-101-compliant study
(see release from May 9, 2007 for details, filed on Sedar:
www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo007950).
Hole
|
Interval (m)
|
Thick
|
Au g/t
|
Ag
g/t
|
Cu %
|
Pb %
|
Zn
%
|
No.
|
from
|
to
|
(m)
|
|
|
|
|
|
YP-147
|
120
|
142
|
22
|
1.44
|
68.0
|
0.54
|
2.05
|
2.83
|
|
|
|
|
|
|
|
|
|
YP-149
|
92
|
126
|
34
|
5.78
|
93.4
|
1.11
|
2.72
|
3.90
|
|
|
|
|
|
|
|
|
|
YP-150
|
36
|
74
|
38
|
1.81
|
74.9
|
0.58
|
2.17
|
1.86
|
|
|
|
|
|
|
|
|
|
YP-151
|
58
|
70
|
12
|
3.62
|
52.0
|
1.03
|
0.52
|
2.76
|
YP-151
|
74
|
100
|
26
|
6.35
|
52.5
|
1.62
|
1.18
|
2.79
|
|
|
|
|
|
|
|
|
|
YP-156
|
42
|
90
|
48
|
3.93
|
16.7
|
1.09
|
0.30
|
0.30
|
YP-156*
|
110
|
116
|
6
|
0.51
|
26.7
|
0.18
|
0.75
|
1.35
|
YP-156*
|
122
|
130
|
8
|
0.58
|
16.5
|
0.19
|
0.60
|
1.13
|
YP-156*
|
136
|
138
|
2
|
0.18
|
12.0
|
0.10
|
0.60
|
1.30
|
YP-156*
|
144
|
150
|
6
|
0.36
|
45.9
|
0.07
|
1.23
|
1.82
|
*
Yielding a weighted average grade of 22 m @ 0.46 g/t Au, 26.9 g/t Ag, 0.15 % Cu,
0.81 % Pb, and 1.39 % Zn
Aldridge President
& Director, Hikmet Akin, said, “Since
our goal is to extend the mineralization at Yenipazar,
we are especially pleased that we have hit our best hole yet. These
results support our aggressive work at Yenipazar
to demonstrate its full value.”
Mineralization at Yenipazar is volcanogenic massive sulphide in nature
that displays features of high-temperature
metamorphosis, and has an open-folded, sheet-like occurrence at depths
ranging from 35 m
to 190 m
below surface.
The Yenipazar
project is subject to an earn-in agreement with Anatolia Minerals, wherein
Aldridge can earn a 100% working interest, subject to project expenditures
of US$ 6 M and stepwise payments of total US$ 1 M to
Anatolia over a period of 6 years, a 6 % net proceeds interest (NPI,
revenue less operational cost) until revenues reach US$ 165 M,
and 10 % NPI thereafter. Since the acquisition of the project in Dec 2004,
Aldridge has paid about US$ 3.5
M for exploration.
Dr. Martin S. Oczlon, PhD Geo, a director of Aldridge and a Qualified
Person as such term is defined in NI-43-101, has reviewed and verified the
technical content of this release.
About Aldridge
Aldridge Minerals Inc.
is a Canadian-based junior mining company formed in 1994 as a minerals
exploration company. Aldridge’s current main project is the Yenipazar gold, silver, copper, lead, and zinc deposit
in central Turkey,
where the company has drilled 120 holes for resource definition since May
2007. The Company also holds the Derinkoy
gold-silver exploration license in the Pontide
copper-gold belt of NE Turkey. For further
information, please visit www.aldridgeminerals.com.
* * * * * * * * *
Forward-Looking
Statements:
The statements made
in this Press Release may contain forward-looking statements that may
involve a number of risks and uncertainties. Actual events or results could
differ materially from the Company’s expectations and projections.
The TSX Venture
Exchange has not reviewed and does not accept responsibility for the
adequacy or accuracy of this news release.
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