ODYSSEY RESOURCES LIMITED
TSX VENTURE SYMBOL: ODX
NOVEMBER 11, 2003 - 09:39 ET
Odyssey's Tavsan Trenching Program Underway
TORONTO, ONTARIO--
Previous trenching returned up to 1.0 g/t (0.03 oz/ton) across
140 meters (459 feet)
Avrom E. Howard, President and CEO of Odyssey Resources Limited
(ODX:TSXV), reports that government permits have been received
and that trenching is now underway on the Company's Tavsan gold
project. Located in western Turkey within a geological region
similar to Nevada's Basin and Range province, Tavsan hosts
disseminated, sediment-hosted epithermal oxide gold
mineralization that has been documented over a strike length in
excess of 3.5 kilometers in several zones. Odyssey is earning a
100% interest in the Tavsan project from Teck Cominco (see
Odyssey's news release dated May 14, 2003).
Previous work focused on the Main Zone, which Teck Cominco
estimated to contain an unclassified and pre 43-101 resource of
280,000 ounces (7,894,302 tonnes at a grade of 1.15 grams per
tonne gold, with a cutoff of 0.5 grams per tonne, and an average
specific gravity of 2.57). Initial Odyssey fieldwork has led to
the recognition of a steeply-dipping shear zone that cuts through
and connects all of the gold mineralized zones in the vicinity of
the Main Zone. This has greatly increased the size potential of
the Main Zone as well as others known to the northeast, along the
strike of the shear. A Teck Cominco trench within the Main Zone
and oblique to this shear, averaged 1.0 grams per tonne gold
across the entire 140 meter (459 foot) length of the trench
(representing a likely true width of approximately 50 meters (164
feet) or more). This suggests that gold mineralization might be
more laterally pervasive and extensive than previously
recognized, as well.
Up to ten trenches will be excavated at 200-250 meter intervals
along a 2 kilometer strike length covering the Main Zone and its
interpreted extensions to the northeast and southwest, with
individual trenches ranging from 400 to almost 1,000 meters in
length, perpendicular to the mineralized shear structure. Diamond
drilling, to expand the known Main Zone gold resource and
determine its full potential, will follow upon the completion of
this trenching program.
Odyssey management remains impressed with the gold potential of
the Tavsan property. Additional information will be made
available as the sampling progresses and analyses are obtained.
At the Altintepe gold project, remaining assays have been
received from drill holes ATD-10 and ATD-11, drilled at the
Karakis Ridge target. As previously reported, hole ATD-10
intercepted oxide gold mineralization grading 2.2 g/t gold (0.07
oz/t gold) over 20 metres (65.6 feet). Beneath the oxide zone,
ATD-10 intercepted sulphide zone mineralization with grades
reaching 1.54 g/t gold (0.05 oz/t gold) and 0.42% copper over the
final 3.5 metres (11.5 feet) of the hole prior to it being
terminated at 68.5 metres, still in sulfide mineralization. The
presence of significant copper-gold concentrations at the bottom
of ATD-10 indicates that mineralization at Karakis Ridge may
extend to greater depths than previously recognized. At hole
ATD-11, drilled just over 100 meters to the northwest of ATD-10,
the base of the oxidized zone was encountered at 31.4 meters,
versus 51.9 in hole ATD-10, indicating that it is laterally more
distant from the central mineralizing conduit where oxidation
depths are typically the deepest (and grades the highest);
between 8.0-27.5 meters the hole graded 0.43 g/t gold over 19.5
metres (64 feet).
Odyssey is now undertaking a surface rock sampling program across
the entire 1 km long Karakis Ridge target area with additional
diamond drilling planned once the survey is completed and all
data is compiled. In anticipation of the forthcoming drilling
program, road planning and permitting is currently underway.
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FOR FURTHER INFORMATION PLEASE CONTACT:
John Buckle
Vice President for Marketing and Investor Relations
(416) 362-6955
jebuckle@odysseyresources.com
www.odysseyresources.com
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responsibility for the adequacy or accuracy of the content of
this news release.
