Gentor is targeting the discovery of high-grade massive sulphide mineralisation in the vicinity of recently discovered, near-surface copper stringer zones at Hacimeter
TORONTO, April 30, 2012 /PRNewswire/ - Gentor Resources Inc. ("Gentor" or the "Company") (TSX-V - "GNT" & OTCQB - "GNTOF") announces that it has negotiated a 12 month option with "the Besler Group" in Turkey to explore the Hacimeter Cyprus-type volcanogenic massive sulphide ("VMS") discovery and specifically to target higher grade massive sulphide mineralisation using geological and electro-magnetic ("EM") geophysical techniques. The option agreement provides provision for the establishment of a 70% Gentor and 30% Besler Group, joint venture agreement to both explore the Hacimeter Project and the surrounding region.
Gentor has incorporated a wholly-owned subsidiary in Turkey with offices located in central Ankara, to facilitate VMS base metal exploration, discovery and development in Turkey. In addition, Gentor has appointed a highly experienced industry geologist Dr. Omer Celenk as its Country Manager. Dr. Celenk, having completed a BSc Hons. at Birmingham University in the UK, went on to Leicester University to complete both an MSc in Mining Geology & Mineral Exploration and a PhD in Exploration Geochemistry. He worked for the Turkish Geological Survey MTA before becoming an expert Geochemist with the United Nations working in India, the Philippines and Uganda. After five years with Irish junior Kenmare Resources, Dr. Celenk consulted in Turkey to various companies, including a stint with Kefi Minerals plc. Gentor's new Ankara based staff include: Deniz Ates, previously a senior geologist with our joint venture partner, the Besler Group, who will manage the Hacimeter Project exploration; and Zeynep Erdogan, a graduate geologist who will be our GIS geologist/administrator.
Further, Gentor has purchased a regional database of Turkish maps and exploration information and commissioned a regional study of Turkish VMS deposits, with the intention of using in-house VMS expertise to secure further advanced exploration ground in Turkey.Gentor's President & CEO Dr. Peter Ruxton commented: " We are very excited about creating more value for shareholders by supplementing our Oman copper search with additional quality exploration opportunities in Turkey. The Hacimeter Project not only provides us with a "drill-ready" VMS target but also enables us to lever of the Besler Group's regional experience to generate further copper and base metal opportunities in a relatively unexplored VMS terrain. With the right local partners, Gentor sees significant value in applying its copper-base metal focus and significant VMS exploration experience to discover and develop projects in what it sees as a number of under-explored VMS provinces in Turkey." GENTOR IN TURKEY With its robust economy, excellent infrastructure, pro-mining administration and tax incentives for mining, Turkey is becoming an important exploration and mining destination. A number of recent revisions to the Mining Code have produced a more secure exploration and mining environment in a highly prospective geological terrain on the threshold of Europe. Given Turkey's strong minerals heritage and established mining culture, together with highly prospective and relatively under-explored geology, Gentor believes it will remain an attractive target for international exploration and mining companies. In particular, Gentor sees excellent potential for both Kuroko and Cyprus-type base metal deposits in various provinces of Turkey, especially in the productive Black Sea Coast region (the Pontic Belt), which is the prime regional target for Mesozoic-aged VMS and younger copper-gold systems. Turkey has a wide distribution of Ophiolitic and Island Arc volcanic settings that have not received intensive modern exploration due to perceived low potential for major copper and related base metal deposits. Gentor has a positive view towards locating new base metal discoveries in previously neglected regions and intends to acquire key tenement coverage within several priority target areas by the end of 2012. Gentor also intends to develop and foster strategic relationships with Turkish partners to accelerate its exposure to significant new deposits. HACIMETER PROJECT The Hacimeter copper-gold project is located 20 kilometres south-west of the regional centre Erzurum in a mountainous region rising to over 2,000 metres above sea level approximately 750 kilometres east of Ankara in eastern Turkey (see Figure 1). Geologically, the Erzurum Province is dominated by Ophiolitic rocks which comprise part of the Izmir-Ankara-Erzincan Ophiolite Belt that was generally dismembered and deformed during obduction, but has a crustal sequence of similar type and age to the standard mafic volcanic hosts for Cyprus-type VMS mineralisation elsewhere in Turkey, Cyprus and Oman. In summary, previous exploration undertaken at Hacimeter has identified two zones of relatively low-grade disseminated to stringer pyrite-chalcopyrite mineralisation hosted within mafic volcanic rocks. The stratigraphic setting and mineralisation style are consistent with the sub-seafloor feeder portion of a Cyprus-type VMS system. This mineralisation remains open in several directions, and a third adjacent chargeability response as well as a nearby conductive target remains untested. Prospect Geology The Hacimeter copper-gold project is located within a deformed and imbricated 50 kilometre by 15 kilometre tectonic block that contains a number of (mostly) north dipping regional thrust slices of Ophiolite (see Figure 2), comprising undifferentiated ophiolite (mostly ultramafics), meta-volcanics and sediments, and an ophiolitic melange. The meta-volcanic portion of this sequence mapped by Besler geologists in the Hacimeter Project area exhibits seafloor radiolarites and gossanous zones within spilitic volcanics. Mineralisation at the Hacimeter Project was discovered by the Besler Group in 2010 when they identified exposed gossanous zones during investigation of anomalous copper values in regional stream geochemical data collected by MTA during the 1980's (see Figures 3a & 3b). Besler engaged a Turkish joint venture partner to manage exploration on the project during 2010-11 and completed 39 line kilometres of IP over the known mineralisation and surrounding areas as well as two phases of diamond drilling for an overall 43 drill holes totalling 5,003 metres (see Figure 4). This work identified a zone of disseminated and stringer pyrite +/- chalcopyrite sulphide mineralisation within strongly silica-altered mafic volcanics that extended from surface to at least 40 metres depth and remains open towards the SE and SW. Preliminary laboratory scale flotation metallurgical testing of the material produced a concentrate of 26-31% copper with a copper recovery at 70-92% - work that suggests that a marketable copper concentrate could be produced from it.