News-Releases
News Releases

Aldridge Receives Report from Papua New Guinea Sampling Campaign and Provides Corporate Update

11/30/2009

Vancouver, British Columbia – November 30, 2009:  Dr. Hikmet Akin, President of Aldridge Minerals Inc. (“Aldridge” or the “Company”) is pleased to announce that the Company has completed a sampling campaign on its 100 % owned license in Papua New Guinea. The 450 km2-license is situated in one of the World’s premier mineral belts, 50 km west of the world-class Porgera gold deposit, and 150 km east of the world-class Ok Tedi copper-gold deposit (see NR from March 3, 2009 and presentation on Aldridge’s website).

Field work has been carried out by consulting geologist Dr. Yves Cheze, PhD, who has over 20 years experience with the copper-gold mineralization styles in this part of the world. Aldridge is now in possession of a report with the results of this campaign, to be quoted as follows:

…Results indicate the presence of a large dioritic intrusive… including a min. 2 x 2 km alteration zone containing a copper-gold system; the best rock samples contain up to 1.6 g/t Au and 1.9 % Cu, and the stream-sediments show significant Au-Ag-Cu and Mo values, which confirm the potential of the zone for high-sulphidation epithermal and/or porphyry  mineralization. 

Since the indication of widespread alteration and … mineralization was found in a limited amount of time and in a zone difficult to access (large parts of the potential area could not be reached), we strongly recommend to proceed with the detailed exploration of MAG1 with the objective of identification of a sizable Cu-Au system.

The intent of this campaign was to understand the mineralization potential in the license area, before inviting one of the larger gold or copper/gold-companies active in the region to cooperate.  Aldridge has already signed a confidentiality agreement with a large gold producer to review the data collected and perform a site visit.

Yenipazar

The Company further advises that a report on the results of gravity pre-enrichment testwork for the Yenipazar project is being finalized at Corem (Québec) and that subsequent flotation testwork on a gravity pre-concentrate has been scheduled.

Corporate Update

Precious Metals Investments Ltd. (“Precious Metals”) has provided Aldridge with notice of termination of its investor relations agreement, due to reasons not associated with Aldridge.  Accordingly, the 400,000 stock options previously granted to Precious Metals will be cancelled.  A replacement is to be installed in the near future after a review process.

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 is mainly focused on mineral opportunities in Turkey where it is conducting an ambitious exploration and development program at its flagship Yenipazar polymetallic VMS project.  

 The Company has also identified several other prospective opportunities in Turkey and has amassed a large property position where a systematic exploration program is underway.

On behalf of the Board of Directors
“Signed”

_________________________________

DR. HIKMET AKIN
President and 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.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Further information:

Dr. Hikmet Akin,
President and Director
Aldridge Minerals Inc.
1 604 688 8932

TSX-V: AGM 0.20 +0.00 +0% Volume: 1,000 October 18, 2017