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Alacer Gold Corp.
Summary
| Project: | Ardich | |
|---|---|---|
| Deposit: | Ardich | |
| Location: | Turkey | |
| Commodities: | Gold | |
| Date: | 12/11/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 11-12-2018: Alacer Gold Corp. announces a Resource Estimation report for its Ardich deposit at the Ardich project. Initial mineral resource estimate for Ardich. December 10, 2018, Toronto: Alacer Gold Corp. (“Alacer” or the “Corporation”) [TSX: ASR and AS | |
| Resources: | (Resource, M+I): 6.928Mt @ 1.32g/t Au for 294Koz Au contained | |
| CP/QP: | [Resources]: Loren Ligocki (Internal) | |
| ABSTRACT: | December 10, 2018, Toronto: Alacer Gold Corp. (“Alacer” or the “Corporation”) [TSX: ASR and ASX: AQG] is pleased to announce a maiden Mineral Resource for the Ardich oxide gold deposit located approximately 6km northeast of the Çöpler Gold Mine. The Mineral Resource consists of: • Measured and Indicated Mineral Resource of 294koz of gold at an average grade of 1.32 Au g/t (6.9MT). • Inferred Mineral Resource of 85kozs at an average grade of 1.20 Au g/t (2.2MT). 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. An additional 42 diamond core drill holes have been drilled since the cut-off date for the Mineral Resource. These additional holes indicate that the current resource estimate will grow. Rod Antal, Alacer’s President and Chief Executive Officer, stated, “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, we will advance the environmental, permitting and processing options to ensure pathways for low-cost, near-term development of Ardich are 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. | |
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