Canadian Miner Alacer Gold has been continue to its operations in Turkey. With 18 December 2017 dated press release the company announced a maiden Mineral Reserve and a 70% increase in the Measured and Indicated Mineral Resource for the Çakmaktepe near-mine deposits located in the Çöpler District. The company also shared initial exploration drilling results of the Çakmaktepe Far North exploration prospect. Çakmaktepe is adjacent to the Çöpler Mine which has approximately four million tonnes of spare capacity in the heap leach facility which will be used to treat oxide ore from Çakmaktepe.
Company stated that the measured and Indicated Mineral Resource estimate for Çakmaktepe has increased by ~70% (to 239,000 ounces) since December 2016. The Inferred Mineral Resource estimate increased by ~110% (to 50,000 ounces) since December 2016. The company also stated that it defined a defined a Maiden Mineral Reserve of 176,000 ounces for the Çakmaktepe Resource.
According to latest press announcement while the company has been pending approval of the revised Environmental Impact Assessment and Operating Permits, Alacer plans to commence mining the portion of the deposits not covered by Pasture Permits; estimated to be Q4 2018 and the company also submitted pasture permit applications for the other areas of Çakmaktepe defined as Pasture land.
Alacer Gold stated that Exploration continues at Çakmaktepe and the updated Mineral Resource does not include drilling after June 21, 2017. Many areas of the Çakmaktepe deposit remain open.
Rod Antal, Alacer’s President and Chief Executive Officer, commented: “This is exciting growth. Our target has always been to bring Çakmaktepe online in 2018 and with mining planned to commence in Çakmaktepe next year, we will meet this objective. With this development, we now have an additional oxide ore source that will utilize the existing Çöpler oxide infrastructure. Turning this exploration potential into profitable production in a relatively short time frame is a significant achievement by the team.
Additionally, we recently completed five initial drill holes at Çakmaktepe Far North and are already seeing excellent potential with the assays revealing mineralization and good grade continuity. With many areas remaining open across Çakmaktepe, our targeted exploration program will continue into 2018 with a view to build on our results to date.”
For Further Information: Alacer Gold
