Vancouver, British Columbia – December 15, 2008: Aldridge Minerals Inc. (“Aldridge” or the “Company”) is pleased to announce that it has successfully completed a 42-meter-deep vertical shaft at Yenipazar. The rectangular shaft with a cross section of 5.2 m.sq. targeted a mineralized interval at 36-42 m depth.
The ore material, which will be used for processing and metallurgical testing comes from the 39-42 m level, weighing about 60 t. Currently, rock property details are determined, and a computer program will be fed with these details. The program is to simulate the optimal parameters for fine-crushing of the 60 t ore material for commercial scale conditions in a high-pressure grinding unit (HPGR). Key parameters are best grain liberation and avoidance of producing ore mineral fines below 20 micron. The fine-crushed ore is to feed an optimized gravity-pre-concentration circuit.
The company will have more than enough material for ensuing testing of both gravitational pre-enrichment and flotation of Yenipazar ore.
A much smaller sample is still being tested at SGS Lakefield, and a respective report is expected by mid-March 2009. Interim results of these preliminary tests indicate that Cu, Pb, and Zn-concentrates with marketable grades could be produced (much of the contained gold would report to the copper, and silver to lead). Further testing with the bulk sample from the shaft will target the improvement of recoveries.
Aldridge President Dr. Hikmet Akin said “We are confident to leap a big step forward on development of the Yenipazar deposit with the bulk metallurgical sample taken. Aldridge will do the utmost to present an optimized processing flow chart in 2009”.
The Yenipazar project is subject to an earn-in agreement with Anatolia Minerals, wherein Aldridge can earn a 100% working interest, subject to a 6 % net proceeds interest (“NPI”, revenues less operational cost) until revenues of US$ 165 million are generated, and 10 % NPI from there on. At the current rate of project expenditures, Aldridge’s work commitment of US$ 6 million should be reached during 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.
About Aldridge Minerals
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.
Aldridge has also identified several prospective nickel and uranium opportunities in Turkey and has amassed a large nickel and uranium property position in Turkey, where a systematic exploration program has commenced.
On behalf of the Board of Directors
DR. HIKMET AKIN
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.
Dr. Hikmet Akin,
President & CEO
Aldridge Minerals Inc.
Download PDF version - Deutsch