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, 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 Property is located in the Artvin province in northeast Turkey along the same trend as the Ardala prospect and Salinbas targets. Hot indicates signs of hosting high grade copper-gold-zinc mineralization in both veins and associated stockworks / stringer zones, in addition to stratabound zinc-lead mineralization.
The Company’s newest acquisition will be the Vicuña-Llareta property located in Chile’s Region III. A binding letter of intent was signed on February 28th, 2014 for 100% interest in the property. The Property consists of 10 mining and exploration claims totaling 2,600 hectares and lies within the Middle Eocene - Early Oligocene porphyry copper belt and Domeyko fault system of northern Chile, which hosts some of the countries’ most important porphyry copper-molybdenum and epithermal gold deposits.
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