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.

Copler District with 5 areas 2018
Mineralization map of mine_July_2019_web

Çöpler Mine

The operating mine is the epicenter for district exploration activities, with established infrastructure for treating both oxide and sulfide gold ores.

  • Following the successful commencement of mining at Çakmaktepe, the ability to execute the Çöpler near-mine development strategy has been proven.
  • A recent scoping study to determine the pathway for the expansion of the heap leach oxide process capacity in the Çöpler District determined that the existing heap leach may be expanded by about 20 million tonnes at a low cost (approximately $15 million) and confirmed the viability of neutralization, de-stacking and re-stacking of the existing heap leach pad.
  • The Corporation is advancing the option to expand the Çöpler heap leach capacity (the incremental expansion of the existing heap leach by about 20 million tonnes) feasibility studies with planned completion in 2019.
  • Construction of the access road to Çakmaktepe, that connects the Çöpler Gold Mine to the eastern exploration prospects, is complete.
  • The newly constructed sulfide plant provides optionality to treat sulfide gold ores or concentrates.
  • Çöpler in-pit exploration program has identified ore that has been fed to the processing facilities in 2017 and 2018. Part of this was the over 1 million tonnes of limestone gold ore that allowed blending with the lower sulfide, high carbonate ore previously stockpiled. The in-pit exploration program is ongoing with some contribution being included in the 2019 production schedules.
  • Çöpler Saddle (80% Alacer owned) has recently been defined by surface mapping and soil sampling (geochemistry) on a 25m by 25m grid. This area is immediately adjacent to the West Pit and appears to extend from within the current Çöpler Gold Mine area to outside the Mine area to the south. Drill testing of the prospect, where it is within the current Mine area, is underway.

Çakmaktepe – Mining Started September 2018

The Çakmaktepe Project (50% Alacer owned) is located approximately 5km to the east of the existing Çöpler Gold Mine infrastructure and is connected by an access road that can be used for ore haulage. All regulatory and permitting approvals have been received and mining activities commenced in September 2018:

  • In phase one of mining, approximately 50,000 recoverable ounces will be mined from shallow high-grade areas in Çakmaktepe.
  • The Corporation announced on December 18, 2017, a maiden Mineral Reserve of 176,000 ounces, Measured and Indicated Mineral Resource of 239,000 ounces and an Inferred Mineral Resource to 50,000 ounces.
  • Bayramdere Deposit is immediately adjacent to the southeast of Çakmaktepe and considered part of the Çakmaktepe deposits.
  • Exploration at Çakmaktepe continues, but at a reduced effort, as resources are focused on more prospective areas.

Further information on the Mineral Resource and Mineral Reserve 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.

Ardich Gold Prospect – A New Discovery

Ardich Drill Hole Locations

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

Ardich (80% Alacer owned) is an exciting near-surface (predominantly oxide) oxide gold deposit located approximately 6km northeast of the Çöpler Gold Mine. The Corporation announced a maiden Measured & Indicated Mineral Resource of 294,000 gold ounces at an average grade of 1.32 gold g/t and Inferred Mineral Resource of 85,000 gold ounces at an average grade of 1.20 gold g/t in December 2018. 

The size of the Ardich deposit is highly prospective, with this maiden Mineral Resource representing the first estimate of a potentially larger deposit. The Mineral Resource is based on only the first 55 diamond core drill holes completed and does not include drill assays received after October 1, 2018. At the end of 2018, an additional 42 diamond core drill holes had been drilled since the cut-off date for the Mineral Resource. These additional holes indicate that the current resource estimate will grow. Gold mineralization modeled at Ardich is primarily oxidized with a small portion of sulfidic ore which does not contribute to this Mineral Resource.

Ardich represents the next stage of our successful organic growth strategy as we work to add a fourth ore source to our portfolio. The Ardich Mineral Resource continues to demonstrate the oxide ore prospectivity from the Çöpler District. In parallel to continuing to define and grow Ardich, environmental, permitting and processing options are advancing to ensure pathways for low-cost, near-term development of Ardichare achievable.

Opportunities exist to process Ardich oxide ores at the existing and expanded Ҫӧpler oxide plant facilities or to construct standalone processing facilities at Ardich. A feasibility study will be completed in 2019 for a ~20Mt incremental expansion of the Çöpler heap leach pad. In addition, options for standalone facilities and heap leach pad facilities of varying size (some >50Mt) are being explored should the Ardich deposit grow to the full extent of the 2km mineralized target.

Forestry drill permit applications have been submitted and are awaiting approval to allow further step-out drilling of the highly prospective areas to the south and east of the Ardich Mineral Resource.

There have been a number of recent announcements on exploration activity in Ardich with impressive results:

  • Hole AR09 with 67.7m averaging 4.08 g/t gold from 53.3m depth (including 14.2m at 7.21 g/t)
  • Hole AR31 with 68.6m averaging 2.21 g/t gold from 36.0m depth (including 17.0m at 5.5 g/t)
  • Hole AR41 with 50.2m averaging 3.01 g/t gold from 43.4m depth (including 7.9m at 8.81 g/t)
  • Hole AR52 with 57.7m averaging 3.84 g/t gold from 121.3m depth (including 10.2m at 5.75 g/t)
  • Hole AR54 with 61.4m averaging 2.22 g/t gold from 5m depth (including 6.4m at 7.75 g/t)

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

Ardich Cross-section

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

The Mavialtin Porphyry Belt (50% Alacer owned) extends from the newly discovered Ardich gold prospect in the north to Mavidere (previously called Karakartal) in the south. It is approximately 20km in length and approximately 6-7km in width with numerous areas of mineralization. The mineralized corridor includes the gold copper porphyry prospects of Mavidere, Sarıdere, Aslantepe, and Findiklidere, some with porphyry intrusions at surface:

  1. Grow the known areas of mineralization, or new discoveries, to be a standalone economic mine deposit, and/or,
  2. Develop a Mavialtin Complex where various smaller deposits could be processed through a common facility.

Demirmağara (80% Alacer owned) has both epithermal mineralization and evidence of porphyry alteration with areas of elevated soil and rock, gold and copper grades.

  • As with other areas, the Alacer geological team have taken a very disciplined approach to exploration in Demirmağara, data mining the Corporation’s historical exploration database, remapping, reinterpretation and frugal drill confirmation of models. This has led to a reinterpretation of Demirmağara.
  • As a result, recently the Corporation discovered a porphyry stockwork system at surface which was exposed by a trench sampling revealing potassic granodiorites.
  • The Corporation awaits Forestry permits to drill test this target.
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