Turkey Regional Exploration

The Gediktepe Project is located in Balıkesir Province, about 370km west of Ankara and 190km to the south of Istanbul. Gediktepe is a polymetallic orebody that contains economic values for gold, silver, copper, and zinc. Gediktepe is owned on a 50% basis with Alacer’s joint venture partner, Lidya Mining. A Prefeasibility Study was released on September 13, 2016.

The ongoing work through 2018 has determined the need for additional metallurgical studies that will require more drilling to provide fresh samples for these studies. In order for the drilling to commence, new permits are required and it is likely drilling will not be undertaken until 2019.  The re-estimation of the resource and reserves, capital cost estimate and project economics will be confirmed after the metallurgical results are finalized. With the additional work, the completion of the Definitive Feasibility Study is now expected in 2019.

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