Anatolia Minerals Development Limited
TSX : ANO

Anatolia Minerals Development Limited

August 24, 2005 09:37 ET

Anatolia Completes 2005 Drill Program at Copler

TORONTO, ONTARIO--(CCNMatthews - Aug. 24, 2005) -

August 2005 Update: New results include 136 meters at 3.0 gpt gold in CRC-386, 126 meters at 2.7 gpt gold in CRC-389 and other good results for step-out and in-fill drilling. Updated resource estimate expected in September. Technical and engineering work advances.

Anatolia Minerals Development Limited (TSX:ANO) ("Anatolia") has completed a 29,907-meter drill program at its 100%-owned Copler Gold Project in Turkey. Focused on the Manganese Mine and Marble Contact zones, the program was designed to expand the known 4-million-ounce inferred resource and infill known oxide zones. Geotechnical and site condemnation drilling continues. The maps attached to this news release and detailed assay results will be posted to Anatolia's web site (www.anatolia-minerals.com).

During 2005, 141 reverse-circulation (RC), 23 diamond core (DDH) and 7 RC-plus-DDH holes were drilled, aggregating 29,564 meters (excluding condemnation holes). Of these holes, 103 holes (60%) intersected one or more intervals aggregating at least 30 meters of 1 gram per tonne (gpt) gold. Of the 171 holes, 127 holes were drilled in the Manganese Mine Zone and the balance in the Marble Contact Zone. A summary of some of the more significant results is given below, including previously released data and results posted herein:



Manganese Mine Significant Drillholes (2005 program only)
---------------------------------------------------------
Drill Intercept Au Grade x Thickness
Hole (Meters) Gpt (gram-meters gold)
CRC-249 75.0 4.0 300.0 gm-meters gold
CRC-255 125.0 4.4 545.0 gm-meters gold
CRC-266 95.0 3.7 346.8 gm-meters gold.
CRC-277 114.0 3.1 358.0 gm-meters gold
CRC-292 150.0 2.4 358.5 gm-meters gold
CRC-310 116.0 3.5 404.8 gm-meters gold.
CRC-346 139.0 3.5 486.5 gm-meters gold
CRC-373 172.0 2.2 383.6 gm-meters gold
CRC 386 136.0 3.0 410.7 gm-meters gold.
DDH-85 172.0 2.3 397.3 gm-meters gold
DDH-95 117.3 4.8 564.2 gm-meters gold.



Marble Contact Significant Drillholes (2005 program only)
---------------------------------------------------------
Drill Intercept Au Grade x Thickness
Hole (Meters) Gpt (gram-meters gold)
CRC-263 52.0 24.7 1,282.8 gm-meters gold
CRC-293 98.0 6.0 590.0 gm-meters gold
CRC-297 129.0 2.2 282.5 gm-meters gold.
CRC-318 90.0 6.9 619.2 gm-meters gold
CRC-334A 93.3 2.4 226.7 gm-meters gold
CRC-340 30.0 9.3 277.8 gm-meters gold.
DDH-89 116.0 3.0 342.2 gm-meters gold


The final phase of the program included 21 reverse-circulation holes and 4 diamond core holes aggregating 4,366 meters, all in the Manganese Mine Zone. Assays have been received for all holes, with summary results given below (generally oxides, except as noted):




Central Area (Manto) Results:
-----------------------------
Drill Intercept Au
Hole (Meters) Gpt Comments
CDD-96 44 2.2 147-191m @ 2.2 gpt gold
CDD-97 51 2.5 52-103m @ 2.5 gpt gold
CRC-378 15 5.2 149-159m @ 7.0 gpt gold, 4 m sulf.;
159-164m @ 1.5 gpt gold sulf.
CRC-381 22 1.9 177-188m @ 2.0 gpt gold, 2m sulf.;
188-199m @ 1.7 gpt gold sulf.
CRC-382 46 4.1 124-138m @ 7.4 gpt gold;
138-170m @ 2.7 gpt gold sulf.
CRC-386 136 3.0 38-96m @ 3.8 gpt gold;
96-108m @ 6.4 gpt gold sulf.;
108-174m @ 1.7 gpt gold, 1m sulf.
CRC-389 126 2.7 0-9m @ 2.2 gpt gold;
9-22m @ 2.4 gpt gold sulf.;
22-126m @ 2.8 gpt gold
CRC-392 21 4.7 105-121m @ 3.9 gpt gold;
121-126m @ 7.6 gpt gold sulf.
CRC-394 36 2.2 0-36m @ 2.2 gpt gold, 2m sulf.
And 1.5m cavity


Of the remaining holes in the Manganese Mine Zone, 15 holes intersect halo/fringe material. Results ranged between 0.3 gpt gold and +1.0 gpt gold over intervals of a few 10s of meters to +150 meters. Hole CDD-099 had no significant results. Detailed assay results for these holes are included in the tables posted to Anatolia's web site.

Richard C. Moores, President of Anatolia, stated, "Our 2005 drilling program was a tremendous success. In just 6 months, we more than doubled the meters drilled at Copler, with stellar results. Intersected by more than 60 holes, the high-grade manto has been shown to be at least 200 meters by 500 meters and averages +30 meters thick at +4 gpt gold. Extending for more than 200 meters beyond the manto is a halo of low to intermediate grade gold mineralization. Results in the Marble Contact Zone were also excellent, where CRC-263 intersected 6 meters grading 188 gpt gold (6 ounces per ton gold) and 2 other holes assayed more than 6 gpt gold for 90 to 100 meters. Coupled with other holes, the northern portion of the Marble Contact Zone represents a large, high-grade opportunity."

Mr. Moores continued: "We're confident that the 2005 drilling program has not only increased both tonnes and grade, but will also increase the confidence level for the bulk of the resource. We expect to receive an updated independent resource estimate by late September. Engineering, the permitting process and metallurgical testing continues, with the goal of completing the feasibility study and making a production decision late in the first quarter 2006, building on our soon-to-be-completed resource update."

Anatolia has been engaged in minerals exploration in Turkey since 1996. In January 2004, Anatolia increased to 100% its interest in the 4-million ounce inferred gold resource at Copler. Anatolia is advancing work at Copler to achieve a production decision by first quarter 2006 for an open pit gold operation for the shallow leachable oxide portion of Copler. The Company also controls approximately 1.1 million hectares within Turkey, including four properties currently under joint exploration with Rio Tinto. The Rio Tinto agreement continues through 2007 and requires payment by Rio Tinto of expenditures for grassroots programs, specific prospect costs in which Rio Tinto is participating, and portions of Anatolia's Turkish field office expenses.

Anatolia currently has 49.6 million common shares issued and outstanding, 57.8 million fully diluted. Anatolia trades on the Toronto Stock Exchange as ANO.

This news release may contain forward-looking statements in respect of various matters including upcoming work programs and events. The results or events predicted in these forward-looking statements may differ materially from actual results or events. Anatolia disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Assays are performed by OMAC Laboratories, Ireland, and ALS-Chemex, Vancouver, BC, Canada, with quality control of sampling, preparation and assaying overseen by Anatolia, whose President, Richard C. Moores, is a "qualified person" for the purposes of applicable Canadian securities regulations.

Note: To view the maps associated with this release, please click the following links.

Copler Mn Mine Area: http://www2.ccnmatthews.com/database/fax/2000/ano0824a.pdf

Copler Marble Contact Area: http://www2.ccnmatthews.com/database/fax/2000/ano0824b.pdf

Contact Information

  • Anatolia Minerals Development Limited
    Richard C. Moores
    President
    (303) 670-9945
    (303) 670-9947 (FAX)
    or
    Anatolia Minerals Development Limited
    Douglas Tobler
    Chief Financial Officer
    (303) 292-1299
    (303) 297-0538 (FAX)
    www.anatolia-minerals.com