Temrezli | Business & Investments

Outstanding Drilling Results at Temrezli and Sefaatli

December 22, 2013 |

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Outstanding Drilling Results at Temrezli and Sefaatli

Perth, Western Australia (PRWEB) December 21, 2013

Anatolia Energy Limited (the Company or Anatolia) is pleased to announce that it has commenced a 6,000m in-fill drilling program at its flagship Temrezli Uranium Project in central Turkey, and completed an additional 10 holes at the nearby Sefaatli Satellite Project.

Temrezli Uranium Project

Following the Company’s successful $ 6.2M capital raising in September this year, Anatolia has commenced a substantial program of work which it expects will culminate in a development decision in the 3rd quarter of 2014. Part of the program of work includes an on-going drilling program which to date comprises 32 holes for over 5,000m drilled. The holes which are both RC and Core are intended to increase the understanding of the existing resource, and to facilitate well field planning which will form part of a revised economic assessment.

Equivalent uranium grade (eU3O8) estimated from gamma logs at Temrezli received to date include intercepts of:

TUR54    4.6m    @    770ppm eU3O8    from    139.5m

TUR58    2.2m    @    1,520ppm eU3O8    from    160.8m

TUR61    9.6m    @    660ppm eU3O8    from    107.8m

            6.8m    @    4,030ppm eU3O8    from    117.4m

TUR63    3.0m    @    870ppm eU3O8    from    133.6m

TUR64    4.1m    @    1,720ppm eU3O8    from    130.5m

TUR65    1.1m    @    1,220ppm eU3O8    from    136.7m

TUR68    2.9m    @    840ppm eU3O8    from    108.5m

TUR69    9.3m    @    730ppm eU3O8    from    129.5m

             4.4m    @    1,390ppm eU3O8    from    173.5m

TUR76    1.6m    @    760ppm eU3O8    from    144.2m

TUR79    3.8m    @    750ppm eU3O8    from    145.5m

TUR81    4.6m    @    780ppm eU3O8    from    110.7m

Of particular note are the wider intercepts, indicating that on occasion the generally tabular nature of the mineralised lenses observed at the Temrezli deposit resemble roll fronts similar in style to producing uranium ISR projects in the Powder River and Great Divide Basins in Wyoming. USA.

In addition to the in-fill drilling, Anatolia has commenced further hydrological studies, which will assist with well field planning and environmental approvals. HydroSolutions Inc. is conducting the hydrological work, which will involve 2,000m of well drilling, and a series of groundwater flow tests to determine well field spacing, the residence time of mining solutions, and pump and injection rates. With additional metallurgical assessments underway, the hydrological test results will assist in the determination of expected resource recovery rates.

Sefaatli Satellite Project

The Sefaatli Satellite Project comprises two prospects, Deliler and Tulu Tepe, where previous drilling outlined uranium mineralisation extending over a combined area of 4.6 km2.

The prospects lie within a NE-SW corridor of some 12 km length. Given the proximity of Sefaatli to the Temrezli Uranium Project, there is strong potential for Sefaatli to evolve into a satellite operation that supplements the planned development of the Temrezli Uranium Project.

The Company’s recent drilling extended over only 10% of the Deliler prospect (Figure 2) and less than 5% of the combined area of the two prospects. All holes intersected uranium mineralisation at depths ranging between 20m and 133m, with most holes intersecting two or more lenses and one hole up to 5 stacked lenses. Equivalent uranium grade (eU3O8) estimated from gamma logs at Sefaatli included intercepts of:

SD1    2.4m    @    340ppm eU3O8    from    46.5m

    1.2m    @    430ppm eU3O8    from    55.9m

SD2    4.6m    @    390ppm eU3O8    from    40.1m

SD3    1.1m    @    410ppm eU3O8    from    41.1m

SD7    2.2m    @    290ppm eU3O8    from    22.8m

    1.2m    @    430ppm eU3O8    from    32.4m

SD8    3.7m    @    230ppm eU3O8    from    30.7m

Commenting on these results, Anatolia’s Managing Director, Jim Graham, said

We are delighted to have discovered uranium mineralisation in all of our drill holes at Sefaatli which is short distance southwest of our Temrezli uranium deposit. We intend to continue examining the potential for continued extension of mineralisation at both Deliler and Tulu Tepe and to advance their tenure to an operation status. These early results over a small portion of the tenure in the Sefaatli area provide strong encouragement for this to evolve into a satellite operation that feeds into our planned development of the high grade Temrezli Uranium Project, where the recent drilling results have exceeded our expectations.

The identification of multiple roll front structures at Temrezli will have a significant positive impact on our well field design work and project economics, whilst we look forward to the results from the current hydrological tests.”

A full version of this release is available at http://www.anatoliaenergy.com.au

ENDS