News-Releases
News Releases

Aldridge upgrades and enlarges Au-Ag-Cu-Pb-Zn-resources at Yenipazar deposit

05/09/2007

Vancouver, B.C.: Aldridge Minerals Inc. (“Aldridge”) is pleased to announce that P&E Mýnýng Consultants Inc. (“P&E”) of Brampton, Ontario, Canada, has completed an independent updated resource estimate for its Yenipazar Deposit in Central Turkey.

This estimate is based on 78 RC-drill holes completed in January of 2007 by Aldridge and 9 earlier diamond drill holes by Anatolia Minerals for a total of 12,056 metres.

The updated resource estimate utilized assay data from the above mentioned 87 drill holes on an approximate 40 metre x 40 metre spacing for the central area of the deposit, an 80 metre x 80 metres spacing on the fringes and was interpolated with the inverse distance squared (1/d2) grade estimation method. Resources are reported within an optimized pit shell and are reported in the following table:

Classification
Tonnes
Au g/t
Ag g/t
Cu %
Pb %
Zn %
Indicated
3,579,000
1.18
35.3
0.36
1.34
1.59
Inferred
3,870,000
1.09
35.2
0.33
1.17
1.37

(1) Mineral resources which are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues.

(2) The quantity and grade of reported inferred resources in this estimation are conceptual in nature and there has been insufficient exploration to define these inferred resources as an indicated or measured mineral resource and it is uncertain if further exploration will result in upgrading them to an indicated or measured mineral resource category.

The mineral resources in this press release were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council December 11, 2005.

An NSR internal open pit cut-off value of US$15/tonne (based on April 30, 2007 24 month trailing average metal prices of $563/oz Au, $10.51/oz Ag, $2.59/lb Cu, $0.58/lb Pb, $1.22/lb Zn, $12.00/tonne milling, $3.00/tonne G&A, $1.25/rock tonne mined and 50 degree pit slopes) was used to quantify this resource estimate for the Yenipazar deposit.

The in situ contained metal in the resource estimate within an optimized pit shell at the above mentioned metal prices in the indicated category is 129,000 oz Au, 4.06 million oz Ag, 28.4 million lbs. Cu, 105.7 million lbs. Pb and 125.5 million lbs. Zn, and in the inferred category, it is 136,000 oz Au, 4.38 million oz Ag, 28.2 million lbs. Cu, 99.8 million lbs. Pb and 116.9 million lbs. Zn.

An updated resource estimate technical report will be available on SEDAR and Aldridge’s website within 45 days of this press release.

Aldridge is currently in the process of procuring ore processing and other related data for a Preliminary Economic Assessment of an open pit operation at Yenipazar to be prepared by P&E and is scheduled completion in the Fall of 2007.

Eugene Puritch, P.Eng. Tracy Armstrong, P.Geo. and Antoine Yassa, P.Geo from P & E, are independent “Qualified Persons” as identified by National Instrument 43-101, and have reviewed and verified the technical content of this disclosure. Martin S. Oczlon, PhD Geo, a director of Aldridge and Qualified Person as defined in NI 43-101, has also reviewed and verified the technical content of this press release.

Aldridge is active in the exploration and development of gold and base metal projects in Turkey.

On behalf of the Board of Directors
“Hikmet Akin”
President and a director
* * * * * * * * *
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

For further information please contact:

Hikmet Akin
President & Director
Tel. +1 (604) 737 2743
Blackberry +1 (604) 7653747
Fax +1 (604) 737 2743
Aldridge Minerals Inc.
15th Floor, 1040 West Georgia Street
Vancouver, B.C.
Canada V6E 4H8
http://www.aldridge-minerals.com/

TSX-V: AGM 0.26 +0.00 +0% Volume: 28,960 March 28, 2017

Downloads

Date Download
November 29, 2016 Financial Statements - Q4 2016 699 KB
November 29, 2016 Q4 2016 MD&A 826 KB
June 11, 2012 Yenipazar Plan Map 1.21 MB
March 22, 2012 Corporate Presentation 1.38 MB