Aegean Metals Group Inc. (TSX-V: AGN) is a mineral exploration company focused on the acquisition and exploration of gold and copper properties in Turkey and Chile. Currently the Company’s portfolio includes two highly prospective projects, Ergama and Hot Maden, located along the Tethyan Porphyry Belt from western Turkey to northeastern Turkey. Aegean’s Ergama Property, has had its back-in option agreement exercised by Teck and will require Teck to incur $1.275 million USD in exploration expenses over the next 3 years to earn 51% interest in the property. It is located in the Balikesir province and hosts high sulfidation epithermal style gold mineralized targets. The property is in close proximity to Alamos Gold’s Agi Dagi Project (1.3 Moz Au at 5.2 g/t Au and 10.7 Moz Ag at 5.20 g/t Ag) and Teck/Pilot Gold’s Halilaga project (1.67 Moz Au at 0.31 g/t and 1.1 Blbs Cu at 0.3%).
The Company’s Hot Maden Property is located in the Artvin province in northeast Turkey along the same trend as the Ardala prospect and Salinbas targets. Hot Maden indicates signs of stockworks and vein-related gold-copper mineralization along the western margin of the Hot Maden Main fault zone; possible porphyry target at depth and stratabound lead-zinc mineralization in sedimentary rocks situated on the eastern flank of the Hot Maden Main fault zone. Aegean is 100% owner of the Hot Maden concessions, subject to the Option Agreement announced on July 2, 2014, through which Lidya Madencilik ("Lidya") has the option to earn-in to a 70% interest in Hot Maden in return for a $USD 3M commitment of combined expenditure expenditures and cash payments to Aegean over a 48 month option period.
Aegean recently acquired two new exploration stage projects in Chile: the Doña Inés high sulfidation epithermal gold-silver prospect and the Exploradora East prospect where the main target is a potential buried porphyry copper deposit. The Company is currently assessing Joint Venture partners for both projects.
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