Exporation

Çöpler District Exploration

Alacer’s exploration licenses surrounding the Çöpler Gold Mine span across a 17 km by 25 km area. The exploration licenses are managed under two separate joint ventures. Alacer owns 80% of the licenses adjacent to Çöpler Mine under the Anagold Madencilik Sanayi ve Ticaret A.S. JV and 50% of the remaining licenses in the Çöpler District under the Kartaltepe JV, both in partnership with Lidya Madencilik Sanayi ve Ticaret A.S.

Turkey and Çöpler District map
Mineralization map of mine

Çakmaktepe – Mining Begins Q4’18

Alacer Gold announced a maiden Mineral Reserve at Çakmaktepe in the Çöpler District of 176,000 oxide ounces and a 70% increase to the Measured and Indicated Mineral Resource to 239,000 oxide ounces on December 18, 2017. Mineralization has been identified in several prospects that can potentially be mined as a series of satellite open pits within 5 km to 7 km of the existing Çöpler Mine facilities. Further information on this resource is available in the “Alacer Gold Announces Maiden Mineral Reserve and a 70% Increase in Measured and Indicated Mineral Resource for Çakmaktepe as well as Additional Exploration Results for Çakmaktepe” press release.

Mineral Resource for Çöpler Near-Mine Deposits (As of December 1, 2017)
Deposit
Material Type
Resource Category Material
Tonnes (x1000)
Au (g/t)
Ag (g/t)
Contained Au Ounces
Çakmaktepe & Bayramdere
Oxide
Measured
-
-
-
-
Indicated
3,965 
1.88 
12.51
239,000
Deposits

Measured + Indicated
3,965 
1.88 
12.51
239,000
Inferred
1,464 
1.06 
8.01
50
Mineral Resources that are not Mineral Reserves have not demonstrated economic viability. Mineral Resources are shown on a 100% basis, of which Alacer owns varying amounts ranging from 50% to 80%. Alacer’s attributable Measured and Indicated portion is 120,000 contained ounces and 29,000 Inferred contained ounces. Rounding differences will occur. The appendices to the announcement provides information on the data, assumptions and methodologies underlying these estimates.

 

On December 18, 2017, a maiden Mineral Reserve of 176,000 oxide ounces and a Measured and Indicated Mineral Resource of 239,000 ounces for Çakmaktepe and Bayramdere were announced along with the initial drill results for Çakmaktepe Far North. Pending approval of the revised Environmental Impact Assessment, mining is expected to begin at Çakmaktepe in 2018. This initial Çakmaktepe material will be trucked to the existing Çöpler processing facility and is estimated to contribute approximately 50,000 ounces of recoverable gold production, predominantly in 2019. Pasture permit applications have been submitted for the other areas of Çakmaktepe defined as Pasture land. The mine access road connecting Ҫӧpler to the Çakmaktepe deposits is under construction and connects to the new tailings storage facility haul road. The mineralization style is similar to the Çöpler deposit and exploration continues at Çakmaktepe. Many areas of the Çakmaktepe deposit remain open and the updated Mineral Resource does not include drilling after June 21, 2017. Initial drilling of Çakmaktepe Far North is encouraging and exploration of the area has been accelerated. The in-pit exploration program at Çöpler will also continue and is focused on finding additional oxide ore. 

Ardich – A New Discovery

Ardich Drill hole locations and surface reflection of mineralized zones

Drill hole locations and surface reflection of mineralized zones. Mineralization is open in all directions.

 

Ardich, is located approximately 6km northeast of the Çöpler Gold Mine and only 1.5km north of the Çakmaktepe deposit for which a haul road to Çöpler is under construction. Exploration started in 2017 and a total of 18 holes were completed and the results were released on February 26, 2018 in a press release entitled “Alacer Gold Announces Additional Positive Drill Results for the Çöpler District Including 67.7 meters at 4.08 grams per tonne gold Near Surface”.(view press release)

Ardich is a potential new ore source that would be accretive to the current production profile.  The current drilling program is testing the extent of the mineralization while concurrently progressing the permitting process. Metallurgical test work has also commenced on composite ore Ardich types.

Drilling Highlights
Significant results are down hole length1 and include:

  • AR01 with 40.9m averaging 1.43 g/t gold and including 6m averaging 5.69 g/t gold
  • AR04 with 90.8m averaging 1.79 g/t gold and including 21.2m averaging 5.56 g/t gold
  • AR07 with 22.8m averaging 2.53 g/t gold and 22.5m averaging 3.36 g/t gold
  • AR09 with 67.7m averaging 4.08 g/t gold including 14.2m averaging 7.21 g/t gold
  • AR12 with 50m averaging 2.02 g/t gold
  • AR15 with 39m averaging 2.39 g/t gold
  • AR17 with 37m averaging 1.67 g/t gold

1 All thicknesses are down hole length and true widths are not known at this stage

Ardich Cross-section

Conceptual cross-section of the Ardich prospect showing gently dipping shallow gold mineralized zones.

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