Atalaya Mining Regulatory News (ATYM)

12 Mar 2007 07:00

EMED Mining Public Limited12 March 2007 AIM: EMED 12 March 2007 EXPANSION OF ACTIVITIES IN SLOVAKIA EMED Mining Public Limited ("EMED Mining" or "the Company") announces a numberof initiatives flowing from the recent gold discovery at the Biely Vrch Prospectat the Company's Detva Licence in central Slovakia. •Drilling at Biely Vrch has recommenced with a program designed to define the extent and grade of the near-surface mineralisation, as well as testing a deeper target identified by ground-geophysical surveys with several 500m drillholes. Previous drillholes at Biely Vrch all intercepted gold mineralisation over their entire length. The grade of the deepest hole (DVE4) drilled to date increased with depth and intercepted 97m at 1.8g/t gold from 155m depth. •Further regional geochemical soil-sampling surveys have been completed. Interpretation of results has identified an untested geochemical anomaly analogous to the soil geochemical anomaly which led to positioning the Biely Vrch discovery drillhole. This prospect will therefore be scout-drilled as part of the current program. •Steps have been taken to expand the project's tenement position through new licence applications for areas considered prospective near the Detva Licence. The total area of EMED Mining's licences in Slovakia will increase from 490 square kilometres to 1,312 square kilometres should these applications be granted by the relevant authorities. •Planning has commenced with local authorities, the Mining Chamber of Slovakia, local Mining Associations, governmental departments and the Faculty of Ecology and Environment at Zvolen University for an international conference to be held in Slovakia on Responsible Mining and Environmental Management. The Company considers it important to openly engage with all stakeholders from the outset with a view to ensuring transparency, mutual understanding of the international standards and accountability of all concerned with potential mine development by EMED Mining in Slovakia. Mr Harry Anagnostaras-Adams, Managing Director of EMED Mining said "our swiftprogress in Slovakia has been due to a very successful combination ofinternational and local expertise to form an effective team which hasdemonstrated its excellence in exploration as well as in its consultation withlocal communities and other stakeholders. We look forward to the results of ourcurrent drilling program. We aspire to be in the position to re-establishSlovakia as a major producer of precious metals and perhaps base metals." -Ends- Enquiries EMED Mining Nabarro Wells Parkgreen CommunicationsHarry Anagnostaras-Adams Richard Swindells Clare Irvine+357 9945 7843 or +44 (0) 20 7710 7400 +44 (0) 20 7850 7480+61 412 369 710www.emed-mining.comwww.emed.tv Notes to Editors: About EMED Mining Public Limited EMED Mining was admitted to trading on AIM in May 2005 following an initialpublic offering of its shares. The company is based in Cyprus and has a strongcommitment to responsible development in the region. The Group's region of interest is the Mesozoic to Tertiary age tectonic beltthat winds over 3,000km from Eastern Europe to Iran. The strategy is to evaluateexploration and development opportunities in several jurisdictions throughoutthis quality mineral belt and to promote sustainable development practicesthrough implementation of EU and other leading-edge international standards.EMED Mining recently co-hosted with the Green Party of Cyprus an internationalconference on Responsible Mining and Environmental Management. EMED Mining has,from the outset, strictly implemented its Environmental & Community Policy whichincludes: • Integrating environmental management into our business, planning and reporting processes. • Promoting a strong environmental ethic throughout the company and the community. • Complying with, as a minimum, all applicable local and EU laws and regulations. • Communicating with community stakeholders in a responsible and transparent manner. EMED Mining has now established a strong position in the following zones withinits area of interest: • Cyprus/Middle East exploration is centred on the Troodos ophiolite complex. The targeted mineralisation style is volcanic-hosted massive sulphide copper deposits under shallow cover, similar to the larger Cyprus copper mines - three of which exceeded 10 million tonnes of ore, at grades between 1% and 4.5%. EMED Mining completed a preliminary feasibility study on mining copper-zinc resources in the Klirou District with encouraging results in early 2007. Seven target areas are being explored for additional mineable deposits. • Slovakia/Europe exploration areas are centred on a cluster of volcanic centres in Slovakia and Romania. Low-detection geochemical methods are being applied to these areas for the first time together with open pit bulk mining concepts. The targeted mineralisation styles are high-grade epithermal gold, or bulk-mineable epithermal gold and porphyry copper-gold. The company has announced a gold discovery at Biely Vrch in Slovakia which has now become a major priority for 2007. • Georgia/Central Asia exploration areas form a cluster of gold prospects centred in Georgia. EMED Mining's main prospects are within the Upper Racha Licence with many untested prospects. The Company has confirmed Russian Resources of 1.0 million ounces gold at the Zopkhito Prospect and discovered high grade mineralisation at surface at the Ipari Prospect. • Turkey/Bulgaria exploration areas were vended into 34%-owned KEFI Minerals Plc which was admitted to AIM in December 2006. KEFI Minerals owns two clusters of tenements in Turkey and the Lehovo tenement in Bulgaria, as well as an extensive database of regional exploration data providing a pipeline of further projects. The KEFI Minerals team has mobilized into the field to explore the company's tenements and to expand the portfolio of licenses as opportunities warrant. For further information on the Company's activities, visit www.emed-mining.comor www.emed.tv This information is provided by RNS The company news service from the London Stock Exchange