KEFI Minerals (AIM: Kefi) announced encouraging results from initial drilling programme at its 100%-owned Derinin Tepe prospect in western Turkey.
Gold-silver mineralisation was encountered in six of the nine holes drilled. Drilling highlights included 3.6m at 3.35 g/t gold and 90 g/t silver from 38m downhole. Ancient workings of up to 3-4m true widths were intersected at greater than expected depths. This indicates the possible presence of shoots of high-grade gold mineralisation at the prospect.
Previous channel-chip and grab sampling at the prospect returned up to 152g/t gold and 1,320g/t silver.
KEFI Minerals' MD Jeff Rayner said:
"While Derinin Tepe was mined near surface in antiquity, this is the first time the area has been tested by modern drilling and exploration techniques. The association of gold and silver with epithermal quartz veins over significant distances provides encouragement that further exploration of Derinin Tepe is warranted.
It appears that the ancient miners were able to follow high-grade shoots to greater depths than we anticipated which provides encouragement that further drilling may find other high-grade shoots along strike or at depth. Another drilling program that will include deeper holes is now being planned."