Altunhisar

Altunhisar is located 260 km southeast of Ankara and 200 km east of the Konya Volcanic Belt (host to the Inlice project). Reconnaissance exploration in 2007 and follow-up exploration in 2008 led to the identification of five extensive zones of hydrothermal alteration associated with high-sulphidation gold systems ranging from 7.5 km² to 16 km²- Balci, Basobasi, Comlekci, Karanlikdere, and Kitreli. Steeply dipping quartz-alunite ledges (Fig.1) and quartz-kaolinite silica ledges (mostly trending NW), locally massive and chalcedonic silica ledges (also trending NW), and zones of supergene kaolinitised andesitic lavas have all been observed within these altered zones.

Figure 1. 30 m-thick quartz-alunite zone in stream-section at centre of Karanlikdere Zone

Positive exploration results have previously been reported from all five zones and include:

• Balci - extensive outcropping silica and silica-alunite zones assaying up to 0.23 g/t gold ('Au') and highly anomalous molybdenum ('Mo'), with a maximum value of  445 ppm Mo
• Basobasi - grab sample of 0.35 g/t Au (and 17.3 g/t silver) and channel samples of 50 m @ 0.12 g/t Au and 25 m @ 0.18 g/t Au in vuggy and massive silica
• Comlekci - a broad zone of alteration extending over an area of 6 sq km and moderately anomalous gold values to 27 ppb
• Karanlikdere - intense alteration over an area of 2,500 m x 1,000 m enveloping a silica ledge up to 80 m in thickness and extending along strike for more than 1,200 m. Soil geochemistry was characterised by anomalous values of gold, silver, molybdenum and tellurium in particular. Initial sampling has returned moderate outcrop gold values up to 0.07 g/t Au and up to 616 ppm Mo. One sample of float material returned 0.24 g/t Au. Banded porphyry-style veinlets are associated with gold values up to 0.047 g/t Au.
• Kitreli - intensive alteration over an area of 2,000 m x 1,500 m that included multiple outcrops of quartz-alunite and chalcedonic silica and anomalous gold values up to 0.01 g/t Au.

Under the terms of a joint-venture agreement, Centerra is now funding exploration and development at Altunhisar. This funding will be utilised for further mapping and sampling of at least three of the five aforementioned mineralized zones identified by Stratex and early drilling of at least two targets is likely to take place during 2011 or early in the 2012 field-season. 

Stratex will manage the exploration programme at Altunhisar until further notice.