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Aldridge Minerals Inc.

Publié le 11 octobre 2007

drills high-grade core at Yenipazar deposit - Intersects 34 metres of 5.78 g/t Gol

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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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This mail distribution is a service of AXINO AG, Stuttgart on behalf of Aldridge Minerals Inc., Vancouver, Canada. This message is for information purposes only. AXINO AG does not take any liability for the correctness of the information sent. Recipients, that make investment decisions or transactions, are completely acting on their on responsibility.

 

Aldridge Minerals Inc.

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CODE : AGM.V
ISIN : CA0144301029
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Aldridge Min. est une société d’exploration minière d'or et d'argent basée au Canada.

Aldridge Min. détient divers projets d'exploration en Turquie.

Ses principaux projets en exploration sont DERINKOY, YENIPAZAR, PAPUA et MURAT DAG en Turquie.

Aldridge Min. est cotée au Canada et en Allemagne. Sa capitalisation boursière aujourd'hui est 10,2 millions CA$ (7,5 millions US$, 6,5 millions €).

La valeur de son action a atteint son plus haut niveau récent le 31 décembre 2007 à 3,75 CA$, et son plus bas niveau récent le 22 juin 2018 à 0,05 CA$.

Aldridge Min. possède 107 130 000 actions en circulation.

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