News-Releases
News Releases

Aldridge Minerals reports on progress of Yenipazar program - VMS, Central Turkey

04/23/2008

Vancouver, Canada – Aldridge Minerals Inc. (“Aldridge”) (TSX-V: AGM, Frankfurt: A0CAPB) announced today that its resource definition drill program at Yenipazar is proceeding on schedule after its suspension during severe winter conditions in Turkey. The latest results from drilling during late February and March are reported below. The holes were RC-drilled on an 80 x 40 m grid to define the resources within the known 1,700 m strike length of the deposit, in the framework of a Preliminary Economic Assessment. Assaying was performed at ALSChemex (Vancouver).

To date, Aldridge has completed 36,856 m RC in 270 holes. In April, 4398 m was completed in 35 holes for which assays are still pending.

Hole      Interval   (m) Thick    Type    Au ppm  Ag ppm   Cu %   Pb %   Zn %
No.           from   to    (m)

YP-227          14   26     12   Oxide      0.94   152.67   0.33   1.82   0.16
YP-228          32   42     10   Ox/sulph   5.80    12.38   0.32   1.41   0.42
YP-228          46   50      4   Sulphide    0.42     9.95   0.10   0.44   0.82
YP-232          24   32      8   Oxide        0.42     8.78   0.41   0.72   0.10
YP-232          50   56      6   Sulphide   0.01     1.57   0.66   0.13   0.10
YP-235         102  104     2   Sulphide   0.23    20.35   0.07   0.65   1.01
YP-235         110  116     6   Sulphide   1.15    41.93   0.47   0.17   0.34

Complete results are available on www.aldridgeminerals.com

Aldridge President & Director, Hikmet Akin, said, “We are currently using two RC-rigs at Yenipazar to bring the entire resource within the known 1,700 m deposit strike length to the indicated and inferred levels by the end of the Spring season. This will form the basis for an updated independent resource statement to be followed by a Preliminary Economic Assessment”.

The Yenipazar project is subject to an earn-in agreement with Anatolia Minerals, wherein Aldridge can earn a 100% working interest, subject to a net proceeds interest held by Anatolia Minerals. At the current rate of project expenditures, Aldridge’s work commitment of US$ 6 million should be reached by early 2009.

Martin S. Oczlon, PhD Geo, a director of Aldridge and Qualified Person as defined in NI 43-101, has reviewed and verified the technical content of this press 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 mid-2008, subject to the progress of the resource definition drilling and the resultant size of the deposit. 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
“Hikmet Akin”
President and a Director
* * * * * * * * *

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.

For further information:

Dr. Hikmet Akin,
Präsident & CEO
Aldridge Minerals Inc.
+1-604-737-2743

Jay Bedard
The Equicom Group
+1-416-815-0700 x 247

TSX-V: AGM 0.22 +0.00 +0% Volume: 16,500 July 18, 2017

Downloads

Date Download
November 29, 2016 Financial Statements - Q1 2017 721 KB
November 29, 2016 Q1 2017 MD&A 912 KB
June 11, 2012 Yenipazar Plan Map 1.21 MB
March 22, 2012 Corporate Presentation 1.34 MB