VANCOUVER - Aldridge Minerals Inc. ("Aldridge" or "the Company") (TSX-V: AGM Frankfurt: A0CAPB) announced today that the company is on schedule with its resource definition drilling at Yenipazar in central Turkey. Resources shall be defined within an optimized open pit shell. There is one permanent reverse circulation drill rig (RC) on the project; to date, 29,410 RC-metres have been completed at Yenipazar in 215 holes, plus 2,293 metres of diamond core.
Assays for 187 RC-holes have been received from ALSChemex, but results for submitted samples from the last 28 holes are still pending. All samples are surveyed on site with a portable X-ray element reader, yielding results from grades above several hundred ppm for various metals (1000 ppm (equal sign) 0.1%). While these results are semi-quantitative, they do allow an assessment of the quality of mineralization in most cases, and avoid sending barren samples to the laboratory. According to the X-ray results for the last 28 holes, mineralization in the southern sector of the Yenipazar deposit has been found to reach 400 m width in one line of 40-m-spaced drillholes. This is about twice as wide, across the known 1.7 km strike length of the deposit, as has ever been found before. The area surrounding this unexpected extension in deposit width will be a focus of further exploration.
DRILL HOLE ASSAYS FROM YENIPAZAR
Hole Interval (m) Thick Au g/t Ag g/t Cu % Pb % Zn %
No. from to (m)
YP-177 26 76 8 (*) 2.13 14.10 0.09 0.82 1.18
YP-178 12 82 30 (xx) 0.74 39.41 0.41 1.06 0.76
YP-179 66 76 10 0.23 41.53 0.05 0.69 1.16
A full account of drill hole assay results is available on Aldridge's website
(x) Cumulative thickness of two mineralized levels
(xx) Cumulative thickness of four mineralized levels
Aldridge President & Director, Dr. Hikmet Akin, said, "We are pleased to see the Yenipazar Project growing larger with this discovery of an unexpected extension in width. Overall, the southern part of the deposit known appears to have wider mineralized sections than previously understood, and contains sections with much higher grades than the northern part, where the currently outlined NI43-101 resources are located. We are looking forward to exploring the full extent of the southern portion of the Yenipazar deposit in the coming six months."
The Yenipazar project is subject to an earn-in agreement with Anatolia Minerals, wherein Aldridge can earn a 100% working interest.
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.
Aldridge Minerals Inc. is wholly focused on mineral opportunities in Turkey where the Company is conducting an ambitious exploration and development program at its flagship Yenipazar polymetallic VMS project. A Preliminary Economic Assessment as well as an updated resource calculation is scheduled for Q2 2008, subject to the eventually determined size of the deposit and progress of respective resource definition drilling. Aldridge has also identified several prospective nickel opportunities in Turkey and has amassed a large property position where a systematic development program has commenced.
On behalf of the Board of Directors
President and Director
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 Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
For further information
Dr. Hikmet Akin, President & CEO, Aldridge Minerals Inc., (604) 737-2743
Martti Kangas, The Equicom Group, (416) 815-0700 x 243