Exploration Overview

The Corporation holds a significant portfolio of highly prospective exploration land holdings across Turkey.  The Corporation continues to explore for opportunities to add to its development pipeline to become a sustainable multi‐mine producer.

The Corporation is taking a disciplined and systematic approach to the exploration program with efforts focused in two parts: the Çöpler District and Turkey Regional. The exploration program is starting to show positive results with successes in both the Çöpler District and the Turkey Regional exploration programs.

Firstly, in the Çöpler District, an initial Measured and Indicated Mineral Resource of 140,000 ounces and an Inferred Mineral Resource of 24,000 ounces were announced on December 19, 2016 in the press release entitled “Alacer Gold Announces Additional Exploration Results for Çakmaktepe and an Initial Mineral Resource in the Çöpler District”.  Additional drilling was completed at Çakmaktepe Central after the initial Mineral Resource was finalized. The positive results at Çakmaktepe Central were near surface and will likely improve the initial Mineral Resource. Exploration work continues in the Çöpler District, which has the potential to add production in 2018 by leveraging Çöpler’s existing infrastructure, including the excess capacity arising from the Phase 4 expansion of Heap Leach Pad.  

Secondly, in the region, the Corporation announced results of a prefeasibility study at Gediktepe in a press release entitled “Alacer Gold Announces a New Reserve for its Gediktepe Project Providing Future Growth,” dated September 13, 2016. Both of these press releases are available on www.sedar.com and on www.asx.com.au. As a result of the positive Gediktepe PFS, work has commenced on a DFS and is expected to be completed in June 2018. Permitting work and some site preparation will also be undertaken concurrently with the detailed studies. The results from the Çöpler District and the Gediktepe Project are encouraging and have increased the confidence that these deposits will add to the Corporation’s organic growth pipeline.

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