Sisorta
Link to a recent presentation discussing SisortaLink to a recent audio broadcast discussing Sisorta
The Company announced on the 27th of August that it had entered into an option agreement with Eurasian Minerals Ltd (TSX-V:EMX) to earn up to a 70% interest in its Sisorta Property in North-Central Turkey. The definitive agreement was signed on the 27th of October.
The Sisorta property is a volcanic-hosted high sulphidation epithermal project, in which drilling to date has demonstrated the existence of a significant body of near-surface oxide gold mineralisation with surface chip-channel sample fire assay grades of up to 14 grams per tonne gold reported by Eurasian Minerals. The project has a large footprint of outcropping mineralisation and anomalous soil geochemistry, only a small portion of which has been drilled.
Mineralisation on the Sisorta project is associated with a 2500m by 800m northwest-trending topographic high. The 22 drillholes carried out to date have shown the clear existence of a large zone of high grade oxide gold mineralisation which remains open to the northwest and southeast. Significant drill results to date from the project include:
• 30.4 metres at 3.83 grams per tonne gold from drillhole Sis-5 starting at surface, including 22.0 metres at 5.00 grams per tonne gold
• 60.5 metres at 1.49 grams per tonne gold from drillhole ES-9 starting at a depth of 1.3 metres, including 20.0 metres at 3.28 grams per tonne gold
• 27.9 metres at 3.00 grams per tonne gold from drillhole ES-3 starting from surface, including 20.8 metres at 3.79 grams per tonne gold
• 52.4 metres at 1.58 grams per tonne gold from drillhole Sis-2 starting from surface, including 19.5 metres at 2.64 grams per tonne gold
Surface mapping, soils and rockchip sampling have also highlighted the existence of a large (950m by 700m) area of silica alteration with little drilling which contains strong indications in soils and rockchip sampling of a large subhorizontal zone of near-surface oxide gold mineralisation with good potential for additional mineralisation. The large alteration system on the property also contains a number of other significant gold-in-soil anomalies which have not been tested by previous surface mapping and drilling.
A drill program is currently under way on the project, and under the option agreement Chesser Resources will take over as project operator once the formal agreement is signed. Chesser has also agreed to reimburse Eurasian Minerals for all drill program costs incurred from the date of signing of the option agreement.
The property was discovered and explored by Maden Tetkik ve Arama ("MTA"), Turkey's General Directorate of Mineral Research and Exploration, between 1995 and 1998. The property was subsequently acquired by Eurasian Minerals as part of a competitive auction process concluded in January, 2004.