Turkey and Çöpler District Map

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, at Çakmaktepe a maiden Mineral Reserve of 176,000 ounces and a 70% increase to the Mineral Measured and Indicated Resource was announced on December 18, 2017. Mining of the Çakmaktepe deposit will commence in the fourth quarter of 2018. Initial drill results at Çakmaktepe Far North are also encouraging and many areas remain open across Çakmaktepe. The 2018 drilling program will focus on Çakmaktepe Far North and in-pit drilling at Çöpler with the goal of continuing to grow the oxide resource and 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. As a result of the positive Gediktepe PFS, work has commenced on a Definitive Feasibility Study 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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