11:55 AM EST - Mediterranean Resources Ltd. : announced that its drilling contractor Ortadogu Sondaj has commenced drilling this past weekend, the previously announced campaign on the Tac and Corak deposits of its Red Mountain (Kizildag) project. The drill campaign has two goals, firstly infill drilling on the Corak deposit where wide gaps existed in the previous drill pattern on the higher areas of the deposit, and secondly to drill a deep target at Tac, that had been identified by consultants in the previous NI43-101 resource statement as having potential to be added to the deposit and pit shell design. The company hopes to produce a new resource statement on the two deposits early in the first quarter of 2012. Mediterranean Resources Ltd.
shares T.MNR are trading even at $0.13.
