Vancouver, British Columbia – May 12, 2010: Mr. Jacob Willoughby, President of Aldridge Minerals Inc. (“Aldridge” or the “Company”) is pleased to announce that the Company has resumed drilling on its gold-rich Yenipazar VMS project in central Turkey.
Aldridge arranged for a powerful multi-purpose rig, to drill one large-diameter diamond hole (PQ, 8.5 cm core) for metallurgical testwork and 28 reverse circulation (RC) holes on the Yenipazar property. The RC-holes are being conducted for infill drilling in the southern part of the orebody, to bring the entire resource to the indicated category. This drill program is expected to take six to eight weeks.
The target of the PQ-drilling is to obtain fresh material for flotation testwork. The drill site has been selected to duplicate RC-hole YP62, which intersected 42 metres of mineralization, on average roughly corresponding to the deposit average grade. To avoid oxidiation of the drilled material to the best possible extent, the PQ-core will be processed in intervals of half of a core-meter (about 9 kg). This has been found to represent an appropriate amount for a series of swiftly conducted flotation tests, immediately following fine-crushing, gravity pre-concentration, and grinding. Fine crushing and homogenization of the entire mineralized core material (42 metres) may already result in partial oxidation while the bulk of the sample is waiting to be processed, even if it were to be subsequently frozen or stored in non-oxidizing gases. Oxidation of ore minerals greatly hinders flotation.
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.
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 mainly 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 other prospective opportunities in Turkey and Papua New Guinea, and has amassed a large property position where a systematic exploration program is underway.
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.
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.
Jacob Willoughby, President and Director
Aldridge Minerals Inc., +416-558-4717