TURKEY : MEXICO : QUEENSLAND                         Projects in Turkey                         > GRM Projects > Aktarma > Yunt Dag > Ispir                         Overview In late 2010 Global agreed to acquire three projects in Turkey, via its Turkish subsidiary GRC Madencilik Limited Sirketi.  It acquired 100% of the Aktarma and Ispir Projects, and agreed to a farm in Agreement over Yunt Dag, whereby it has the right to earn up to 60%.  These deals were finalised in May and June 2011 respectively. The two projects in western Turkey, Aktarma and Yunt Dag are located 12km northwest of Balikesir and 50km north of Izmir City respectively.  This part of western Turkey has had many recent disocveries and the Ovacik Mine has been in operation since 2001, producing in excess of 1M ounces of gold and 800koz of silver in that period. The Ispir project is located 125km southeast of the city of Trabzon on the Black Sea coast of Turkey. GRM Projects in Turkey These projects are all located in the Turkish sector of the Tethyan epithermal/porphyry belt that extends from central Europe to far East Asia and hosts some of the biggest and most productive gold and copper deposits in the world.  Due largely to this mineralised structure there have been many recent discoveries in Turkey, and it has recently become the biggest gold producer in Europe. See Figure 1 and 2. >Back to top                         Figure 1: GRM Projects in Turkey [+] Click to enlarge Figure 2: [+] Click to enlarge                         Aktarma Project - 100% Global This project has excellent access, with paved roads into the project area, there is plenty of water and the location, lack of difficult terrain and climate permits exploration activities all year round. Geologically, Aktarma lies on the northern margin of the regional Ergama Graben and hosts a strong, multi-element soil and rock-chip geochemical anomaly with values up to 0.6g/t Au in soils and 6.13 g/t Au in rock. Recent geophysical work including a gradient array IP survey, a ground magnetic survey and a Pole-Dipole IP survey shows a well resolved resistivity anomaly that correlates extremely well with the geochemical anomaly. See Figure 3 -  shows the areas covered by these surveys. The magnetic data, and resultant models, indicate a couple of significant features: 1.          There are strong WSW-ENE trends in the magnetics, the dominant one of which runs across the entire survey and delineates a sharp boundary in the central-west part of the survey (ie in the location of the Pole-Dipole IP lines) between non-magnetic lithologies to the north and more strongly magnetic lithologies to the south.  This structure has a near-vertical dip in the west, becoming moderately south-dipping towards the east. 2. In the vicinity of the six Pole-Dipole IP lines, a well-defined low-susceptibility magnetic body is apparent, with at least several hundred metres depth extent.  It is closed off by the current ground magnetic survey extent, where several shallow extensions near-surface coalesce at depth. From these geophysical studies, coupled with the geochemical and mapping studies indicate that: The ground magnetic and gradient array IP survey has effectively mapped a significant, sharp, disrupted structure running WSW to ENE across the survey area. This structure is associated with a zone of high-resistivity lithologies, presumably due to movement of silica-bearing fluids along the structure.  As has been shown by the surface sampling, the hydrothermal fluids have deposited gold in some parts of the system. The magnetic data infer the structure, and associated low-susceptibility magnetic body to its north, to extend to at least several hundred metres depth. The resistivity data infer that the high-resistivity zone associated with the structure is shallower towards its eastern end, becoming deeper towards the west. It is recommended that drill-testing of the high-resistivity zone and the structure be completed with a series of North-dipping drill holes. Current Drill Programme The results of the various geophysical surveys, together with the results of the surface geochemical programmes and geological mapping have been used to generate highly prospective drilling targets that are now be tested in a preliminary 1,500m diamond drilling programme. Figure 4 shows the proposed drill-holes overlying the Pole-Dipole 3 dimensional IP signature. > Back to top                         Geophysics surveys at Aktarma [+] Click to enlarge Figure 3: Map of Aktarma pole-dipole survey (red) and extended magnetic survey (blue) [+] Click to enlarge Figure 4: Proposed drill-holes overlying the Pole-Dipole 3 dimensional IP signature. [+] Click to enlarge                         Yunt Dag Project – Global earning up to 60% The Yunt Dag project is located 50km from the deep water port of Izmir, has excellent access via paved roads, is nearby to wind generated electricity and the climate permits year round exploration activities. The Yunt Dag Project is a high sulphidation epithermal gold system identified originally by using satellite imagery.  This imagery identified the leached clays on the surface, that are indicative of these types of systems, where the sulphides have been leached out of the weathered horizon, leaving only trace amounts of minerals.  It is anticipated that the levels of minerals would increase as fresh rock is encountered. Various geological, geochemical and geophysical programmes have been carried out at Yunt Dag over time. Alteration mapping has been completed over the main target areas and identified alteration zones of the high sulphidation epithermal system.  The mapping outlined an argillic to advanced argillic zone that has a NE-SW strike and more than 3km of strike length with iron enrichment at surface.  Within this zone floats of silicified and leached volcanic rocks were found.  The surface mapping suggests the presence of a structurally controlled, gold bearing high sulphidation breccia bodies with the possibility of a buried disseminated gold deposit at depth. See Figure 5. Silt and soil surveys carried out over the alteration zone and identified a broad gold anomaly (Au>10ppb) in the eastern part of the grid, which is coincident with a magnetic anomaly.  The soil survey also identified arsenic amomalies (As>25ppb) over a 2 x 1km area. 21 line kilometres of IP/Resistivity surveys as well as a significant ground magnetic survey were carried out in the project area.  These resolved a 2 x 1.5km magnetic anomaly that correlates well with the gold anomaly in the soil survey.  No resistivity anomalies were encountered but did encounter chargeability anomalies starting from shallow depths, and may be indicative of a high sulphidation system at depth. Since entering the agreement over Yunt Dag, Global has re-processed the geophysical data and has planned a five hole drill programme to test the magnetic, chargeability IP and geochemical anomalies, these are noted on the diagram in Figure 6 and described below: Hole 1 – This is a 300m hole designed to the high chargeability, moderate resistivity and weak magnetic anomalies at depth.  It is within the anomalous gold in soils. Hole 2 – This is a 250m hole designed to test a moderate chargeability anomaly. Hole 3 – A 350m hole designed to test a resistivity anomaly with minor magnetics at greater than 150m. Hole 4 – A 250m hole to test a moderate chargeability anomaly at the edge of the geophysics grid. Hole 5 – A 300m hole testing a moderate chargeability anomaly and extension of anomaly from drill hole 1. > Back to top                         Figure 5: Yunt Dag Project detail [+] Click to enlarge Figure 6: Yunt Dag 5 Hole Drill Program [+] Click to enlarge                         Ispir Project – 100% Global Ispir has greater challenges than the other two projects with regards to access, and the elevation and climate ensures there is a shorter field season, with snow prevalent between December and April. Ispir has both high sulphidation gold epithermal and copper – molybdenum porphyry styles of mineralisation.  There has been limited silt, soil and rock sampling on the project area and this has identified several targets for further work.   See Figure 7. Recent reconnaissance concentrated mainly on the Moryayla gold anomaly in the south of the tenements, which is directly north of the known porphyry Ulutas.  This porphyry is not on the tenement package however it is due to be auctioned in the first quarter of 2012 and Global will participate in the auction process. See Figure 8. See Figure 9. > Back to top                         Figure 7: Ispir Project Map [+] Click to enlarge Figure 8: Ispir Project [+] Click to enlarge Figure 9: Ispir Project Interpretive Cross section [+] Click to enlarge                         References 1. www.chesserresources.com.au 2. www.pilotgold.com 3. www.aldridge.com.tr 4. www.alamosgold.com 5. www.alacergold.com 6. www.eldoradogold.com                         Global Resources Corporation Limited   •  P: 61 (0) 7 3844 3999   •   F: 61 (0) 7 3844 4088 Head Office: 13 Manning Street, South Brisbane, QLD 4101, Australia  •  PO Box 3025 South Brisbane BC, QLD 4101                         Created with MySite