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TURKEY
SAUDI ARABIA
EGYPT
MOROCCO
TUNISTA
UAE
OMAN
IRAQ
LIBYA
YEMEN
JORDAN
SYRIA
ETHIOPIA
ERITREA
IRAN
SUDAN
OTHER
Which countries
represent the best
opportunity in the
MENA region?
•
Base Metals
•
NWI
Berta
(Turkey)
Location
Northeastern Turkey
Ownership
NWI/Xstrata Copper JV
Commodity
Porphyry Copper/Gold/Moly
Project Status
Exploration
NWI
Elmalaan
Location
Northeastern Turkey
Ownership
100%
Commodity
VMS Cu-Zn
Project Type
Underground potential
Project Status
Exploration
Annual Report Edition, May 2011
7
Drilling at the Berta
property in Turkey
The Egyptian landscape at Bukari
EGYPT AND
THE MENA REGION
continued from page 1
The exploration programs consisted of mechanical and hand excavation
followed by prospecting. Several hundred grab samples of rock were collected
from six known occurrences: Bukari One, Abu Muawaad, Talat Gadalla,
Daghbag, Kab Hamdalla and Wadi Zeidum.
Very importantly, in mid-February 2011, shortly after the conclusion of
the pro-democracy demonstrations in Egypt, approval was received from the
Egyptian State Council of the Concession Agreement covering the Bukari
Concession Area.
“This is a significant milestone in the approval process and a concrete
indication of Egypt’s commitment to moving forward with building a mining
industry,” Mr. Jones said. “We have yet to receive an indication as to when
the Bukari Agreement will be presented to the People’s Assembly for final
approval and passage into law.”
The Bukari and Umm Samra concessions, both easily accessible by paved
highway, are located some 50 km northwest of Centamin Egypt Limited’s
multi-million ounce Sukari Gold Mine. Sukari is being expanded to increase
annual production to about 500,000 ounces of gold over the next three years.
For its part, Nuinsco recognized the mineral potential of Turkey in 2005,
and acquired two properties: Berta and Elmalaan.
The Berta property, a joint-venture with Xstrata Copper, is located
approximately 50 km south of the Black Sea in north-eastern Turkey and lies
within the prolifically mineralized Tethyan-Eurasian Metals Belt. This belt hosts
numerous ore deposits along its length that traverse several countries. For
example, Iran’s Sarcheshmeh Mine is one of the world’s largest copper mines
at 1.2 billion tonnes grading about 1% copper. The Berta porphyry is reputed
to be the largest copper anomaly in the Turkish Pontides, covering 15km
3
.
Extraordinarily anomalous copper has been obtained in drilling, most
notably from hole SD-07-08 that intersected 710 metres of 0.28% Cu.
The results from this highly mineralized hole that ended at 771.5m in
mineralization highlight the potential of the Berta property.
Six kilometres south of the Black Sea coast, Nuinsco’s Elmalaan VMS
Property is easily accessible year-round. Previous work by Nuinsco identified
massive sulphides in outcrop and locally-derived boulders grading up to
30.38% copper and 56.30% zinc – exceptionally high grades by any standard.
The extraordinary exploration potential of Berta and Elmalaan gave
Nuinsco its entry in the burgeoning Middle East-North Africa (MENA) region.
With the addition of the Bukari and Umm Samra gold concessions in Egypt’s
Eastern Desert, the Company has expanded its base on which to move
forward in this underexplored part of the world.
“We have established a solid presence and are comfortable doing
business in the MENA region,” said René Galipeau, Vice-Chairman and CEO.
“Our Egyptian concessions, combined with the projects in Turkey, could be
significant enough to consider building a new company focused on MENA
countries to take advantage of other opportunities in this highly-prospective
region.”
Turkey
Tremendous Potential for Copper Discoveries
in an Underexplored Region
Istanbul, Turkey
- Gold and base metal exploration
and development have been on the rise in Turkey, in step
with an increasing number of foreign investors active
in the country. Inmet Mining Corp., Eldorado Gold Corp.
and Anatolia Minerals are, along with Nuinsco,
among those companies actively evaluating and
developing Turkish assets.
NWI
Bukari and Umm Samra
Concessions
(Egypt)
Location
Eastern Desert
Ownership
50%
Commodity
Au
Project Status
Exploration
Source:
Terrapin,
MENA
Mining
Congress
2011
Survey
Report