The current program also aims to test previously identified oxide ore potential in the southern part of the mineralized system. Drill hole KDH023 intersected 140 metres from surface grading 0.30% copper, 0.11 g/t gold and 0.0011% molybdenum, including 21.8 metres at 0.56% copper and 0.22 g/t gold. The hole then entered an alternation of Phase 2 porphyry, post-mineral dykes and skarns, yielding several significant copper intercepts. The 140 metre thick intersection in hole KDH023 is part of an oxide zone that was also intersected in previous campaigns by holes KDH012, KDH015 and KDH016. The surface footprint of this oxide zone, as indicated by the collar locations, could be well beyond 300 metres in dimension and is on top of Phase 2 porphyry - a favourable host for secondary enrichment.
Reinterpretation of geochemical data from all surface and drill hole samples has also identified Karapinar as a molybdenum rich system, prompting to study elements which have not been assayed to date and often correlate with molybdenum in porphyries, in particular Rhenium. Rhenium is used mainly for production of nickel-based superalloys used in combustion chambers, turbine blades, and exhaust nozzles of jet engines, these alloys contain up to 6% rhenium, making jet engine construction the largest single use for the element, with the chemical industry's catalytic uses being the element's next-most important application. It is also of critical strategic military importance, for its use in high performance military jet and rocket engines. A selection of samples from various drill holes at Karapinar with high molybdenum grades was analyzed at the ALS Chemex laboratory by an ICP-MS suite and returned rhenium grades between 0.183ppm and 2.61ppm, showing good correlation with molybdenum. While this data is not representative for the entire deposit, as samples have been selected from different drill holes on the basis of their high molybdenum grade only, the high rhenium grades, and the observed correlation between molybdenum and rhenium in particular, are suggestive of rhenium potential in zones with higher grades of molybdenum that could add significant value to molybdenite concentrate. A number of intervals with higher molybdenum grades have been established in the holes of the current program (e.g. hole KDH020a with 98.5 metres at 0.0135% molybdenum between 77.5 and 176.0 metres), but they are also observed in drill holes from previous campaigns (e.g. hole KDH012 with 126.7 metres at 0.0240% molybdenum between 139.6 and 266.3 metres).
The current ongoing drilling program is planned to test IP and geochemical anomalies in the area north of hole KDH019 and the potential for extension of the porphyry system underneath the marble roof-pendant. Drilling is then planned to test the area north-west of the previously drilled cluster, where mapping has identified another zone of potassic alteration, with quartz-magnetite-chalcopyrite veins in an outcrop. A deep geophysical survey is in planning to aid the generation of deep targets, reflecting on the results from the recent re-interpretation of geochemical data and the SWIR and NIR spectral study on drill core samples. In addition, the airborne magnetics and radiometrics survey that was temporarily suspended due to weather conditions is expected to be resumed in late March or early April 2013.
Quality Assurance/Quality Control
All drill core was sawn in half with sample widths determined by geology and mineralization. Individual samples within visible mineralization did not exceed 1.0 metre, while the maximum sample interval was 2.0 metre. Samples were bagged, security tagged and sent to the ALS Chemex sample preparation facility in Izmir, Turkey and, following preparation, to the ALS Chemex laboratory in Vancouver. For all drill holes to KDH022 inclusive, gold was determined by fire assay with AA finish, ore grade repeats were run with ICP-AES and a total of 33 elements determined by ICP after four-acid digestion. Starting with hole KDH023, the ICP multi-element suite was changed to ICP-MS after four acid digestion, determining 48 elements, while gold is determined by fire assay with AA finish as before. The change is driven by the indicated rhenium potential, will apply to all future Karapinar drill core samples and will allow to further evaluate potential for elements that have not been assayed for so far.
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