London, Nov. 5, 2009 (PR Newswire UK Disclose) --
AIM: KEFI 5th November 2009
KEFI Minerals Plc
("KEFI Minerals" or the "Company")
COMMENCEMENT OF DRILLING AT ARTVIN PROJECT, TURKEY
KEFI Minerals, the AIM-quoted gold and copper exploration company with projects
in Turkey and the Kingdom of Saudi Arabia, is pleased to announce that a
drilling programme has commenced at the Artvin Project that is aimed at a very
large geophysical anomaly that can be caused either by a porphyry copper-gold
deposit, or a volcanic-hosted massive sulphide ("VHMS") deposit.
The Artvin Project is a joint venture with Centerra Gold, who is currently
funding exploration in order to earn up to 70% of the Artvin Project upon
expenditure of US$6 million. KEFI Minerals is the manager of the joint venture.
The 1,200m drilling programme is planned to comprise four diamond drillholes at
the Yanikli Prospect. The target is a strong induced polarisation ("IP")
chargeability anomaly with partly coincident anomalous levels of gold and base
metals identified on surface. Previous diamond drilling by KEFI Minerals in
late 2008, on the eastern margin of the chargeability anomaly, intersected gold
and base-metals mineralisation, including 2m at 20.9g/t gold, 14m at 1.0g/t
gold, 64m at 0.35% zinc and 44m at 0.57% zinc.
The Artvin Project is located in the Artvin Province of northeastern Turkey and
comprises 15 tenements, which cover approximately 254km2 within the eastern
portion of the Eastern Pontide Belt. The Eastern Pontide Belt is a major
metallogenic province in the eastern Black Sea coastal region and is
prospective for VHMS deposits, porphyry copper-gold deposits and epithermal
gold-silver mineralisation.
KEFI Minerals' Managing Director, Jeff Rayner, commented:
"Late last year, we received very encouraging results from the initial diamond
drilling programme at Yanikli. 