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Alacer Gold Reports Exploration Results From the Çöpler Saddle Shear Zone at the Çöpler Gold Mine

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Alacer Gold Reports Exploration Results From the Çöpler Saddle Shear Zone at the Çöpler Gold Mine

 

 

 

 

 

Alacer Gold Corp.  [TSX: ASR) (ASX: AQG] is pleased to announce positive drill results for the Çöpler Saddle. The Saddle borders the western flank of the Çöpler Mine (Figure 1) with the shear zone passing through the existing Çöpler West Pit, which is in production. The initial testing of The Saddle consisted of 50 diamond drill holes with a strike length over ~2km. All holes reported are outside of the Çöpler Resource shells and planned mining areas. Diamond drill holes intersected both oxide and sulfide gold mineralization, some with impressive grades and thicknesses, including holes:

 

  • CDD657: 22.6m @ 9.65 g/t Au (oxide) from 24.5m, including 6m @ 30.78 g/t Au (oxide) from 26.2m and 1m @ 104 g/t Au (oxide) from 28.2m and 1.4m @8.6 g/t Au (oxide) from 36.2m
  • CDD719: 40.8m @ 4.74 g/t Au (oxide & sulfide) from 120.7m, including 3.3m @ 6.94 g/t Au (oxide) from 129.8m and 4.4m @ 25.78 g/t Au (oxide) from 137.1m
  • CDD735: 5.7m @ 39.45 g/t Au (oxide & sulfide) from 34.4m, including 1.4m @ 155.5 g/t Au (sulfide) from 37.7m and 2.2m @ 7.74 g/t Au (oxide & sulfide) from 47m
  • CDD786: 7.8m @ 7.2 g/t Au (oxide) from 65.6m and 11.3m @ 4.33 g/t Au (oxide) from 78m

 

Rod Antal, Alacer’s President and Chief Executive Officer, stated, “The Çöpler Saddle is shaping up to be another outstanding near-mine exploration project and an important component of our short-term strategy to identify additional oxide ore that we can convert quickly into production by leveraging our existing infrastructure. With Ardich already shaping up to be a major discovery, and now with The Saddle showing potential, albeit at an earlier exploration stage, our short-term strategy is rapidly becoming a reality.”

 

Figure 1, Location map of the Çöpler Saddle Shear Zone, available here:

https://www.globenewswire.com/NewsRoom/AttachmentNg/9a273e0f-198e-4f4d-9c80-6b8371864a12

 

Project Overview

 

The Çöpler Saddle is located on the western periphery of the Çöpler Mine open pit. The Çöpler Saddle Shear Zone is defined as an arc like structure running north-south for approximately 2 kilometers (Figure 2). The north-south extending shear zone appears to be dipping 600-700 to the west. The shear zone passes through the West Pit, which is in production. Soil sampling was conducted in several campaigns in a 2km x 2.8km area with 50m x 50m sampling grid. The geochemical results of this soil sampling program returned with high grade gold values, with some areas exceeding 0.5 g/t (Figure 3).

 

Figure 2, The Saddle relative to the Çöpler Gold Mine, available here:

https://www.globenewswire.com/NewsRoom/AttachmentNg/8a4e4f53-3ec0-4b53-8bc1-c988fb96cc7d

 

Along the shear zone, the geology is dominated by limestone, marble and hornfels units that are in turn intruded by micro-dioritic to granodioritic small scale stocks defined in some of the drill holes. The rocks were subjected to silica-clay alteration with iron oxide developments along the local structures as well as subjected to clay-pyrite alteration. The entire mineralized system is protected by an over thrusted hornfels unit. At the south of the zone, silica is mainly observed as 2-meter long and 1-meter wide jasperoid lenses along the hornfels and marble contacts, whereas at the central portion of the zone, less silica is observed with larger gossan-like mineralized iron oxide bodies have been formed. In the central area (around the West pit) mineralization is controlled by an oblique fault system. Gold, particularly in this West Pit area, is enriched in karstic fill clays around the brecciated and fault rocks.

 

Elevated soil gold geochemistry points to at least three potentially attractive exploration areas closely related with the Saddle Shear Zone. Detail mapping of these areas with elevated gold geochemistry are being conducted to plan a follow up drilling program.

 

Figure 3. Saddle Shear Zone with soil gold geochemistry, available here:

https://www.globenewswire.com/NewsRoom/AttachmentNg/eeb33ae4-b095-4c79-8d0d-d933ecb67dc9

 

Drilling

 

Alacer drilled 50 diamond core holes totaling 6,150m. The drill holes were drilled within Alacer’s 80% owned and managed licenses. All drilling was diamond core drilling using either HQ (63.5mm in diameter) or PQ (85mm in diameter) core sizes. All holes reported here are outside of the existing Çöpler Resource shells or planned mining areas.

 

Drill Highlights

 

Significant results are down hole length and include:

 

  • CDD657: 22.6m @ 9.65 g/t Au (oxide) from 24.5m, including 6m @ 30.78 g/t Au (oxide) from 26.2m, 1m @ 104 g/t Au (oxide) from 28.2m, and 1.4m @8.6 g/t Au (oxide) from 36.2m
  • CDD659: 17m @ 8.41 g/t Au (oxide & sulfide) from 35m, including 1m @ 5.32 g/t Au (oxide) from 36m and 7m @ 18.7 g/t Au (oxide) from 43m
  • CDD664: 14m @ 7.49 g/t Au (oxide) from 49m, including 8m @ 12.25 g/t Au (oxide) from 54m
  • CDD709: 10.6m @ 2.52 g/t Au (oxide & sulfide) from 164m, including 0.9m @ 20.3 g/t Au (oxide) from 173.7m, and 
    32.7m @ 2.25 g/t Au (oxide) from 197m, including 1m @ 5.43 g/t Au (oxide) from 209.5m
  • CDD717: 21.4m @ 1.27 g/t Au (oxide & sulfide) from 185.5m, and 
    26.5m @ 1.83 g/t Au (oxide & sulfide) from 254.2m, including 1m @ 25.7m Au (oxide) from 267.7m
  • CDD718: 11.4m @ 3.87 g/t Au (oxide & sulfide) from 96.3m, including 2m @ 18.13 g/t Au (oxide) from 102.9
  • CDD719: 40.8m @ 4.74 g/t Au (oxide & sulfide) from 120.7m, including 3.3m @ 6.94 g/t Au (oxide) from 129.8m and 4.4m @ 25.78 g/t Au (oxide) from 137.1m, and 
    13.4m @ 1.16 g/t Au (sulfide) from 95.1m
  • CDD729: 11.1m @ 8.85 g/t Au (oxide and sulfide) from 23m, including 1m @ 11.55 g/t Au (oxide) from 24.2m, 3.9m @ 15.88 g/t Au (oxide) from 26.2m, and 1m @ 8.36 g/t Au (oxide) from 31.1m 
  • CDD735: 5.7m @ 39.45 g/t Au (oxide & sulfide) from 34.4m, including 1.4m @ 155.5 g/t Au (sulfide) from 37.7m, and 
    2.2m @ 7.74 g/t Au (oxide & sulfide) from 47m
  • CDD774: 7.1m @ 6.08 g/t Au (oxide) from 40.4m, including 1.6m @ 17.25 g/t Au (oxide) from 44.9m
  • CDD786: 7.8m @ 7.2 g/t Au (oxide) from 65.6m, including 1.7m @ 27.66 g/t Au (oxide) from 69.8m and 11.3m @ 4.33 g/t Au (oxide) from 78m, including 1m @ 8.54 g/t Au (oxide) from 78m, 1m @ 5.37 g/t Au (oxide) from 84m, and 1.9m @ 13.89 g/t Au (oxide) from 87.4m
 

Table 1. Significant Gold intercepts at the Çöpler Saddle Shear Zone.

 

Hole ID From (m) To (m) Interval (m) Au g/t Remarks Depth (m) Comments
CDD652 13 16 3 0.59 Sulfide 57.6  
CDD653 80.4 No Significant Interval
CDD654 0 12 12 0.55 Mixed 113.2 50/50 Oxide Sulfide
73 95 22 1.41 Oxide  
including 80 82 2 7.06 Oxide  
  100 104 4 0.39 Oxide  
CDD655 4 11 7 0.34 Sulfide 60  
18.3 21.3 3 0.32 Sulfide  
28.1 33.6 5.5 3.88 Mixed 67/33 Oxide Sulfide Ratio
including 29.1 29.8 0.7 9.35 Oxide  
including 31.6 32.6 1 5.76 Oxide  
  51.6 57.6 6 0.49 Oxide  
CDD656 0 31.1 31.1 1.26 Mixed 74.2 68/32 Oxide Sulfide Ratio
including 23 24 1 14.8 Oxide  
CDD657 0 9 9 2.84 Mixed 57 22/78 Oxide Sulfide Ratio
24.5 47.1 22.6 9.65 Oxide Includes isolated intervals of core loss totaling 0.5m.
including 26.2 32.2 6 30.78 Oxide  
including 28.2 29.2 1 104 Oxide  
including 36.2 37.6 1.4 8.6 Oxide  
CDD658 65.5 68.5 3 0.74 Oxide 258.3  
83.1 86.1 3 0.31 Oxide  
159.7 162.8 3 0.85 Oxide  
234.5 239.5 5 0.68 Oxide  
242.5 245.5 3 1.15 Mixed 67/33 Oxide Sulfide Ratio
CDD659 0 5 5 0.55 Sulfide 125.5  
35 52 17 8.41 Mixed 82/18 Oxide Sulfide Ratio
including 36 37 1 5.32 Oxide  
including 43 50 7 18.7 Oxide  
  80 84 4 0.48 Oxide  
  111.5 113.5 2 1.4 Oxide  
CDD660 0 15 15 1.09 Sulfide 107.2  
including 0 1 1 7.26 Sulfide  
  76 81 5 0.42 Sulfide  
CDD661 157 160 3 0.6 Oxide 213.8  
166 167.1 1.1 1.41 Oxide  
170.7 184 13.3 2.13 Mixed Includes isolated intervals of core loss totaling 0.9m. 84/16 Oxide Sulfide Ratio
188 192 4 0.39 Sulfide  
CDD662 96 98 2 4.19 Oxide 108  
including 96 97 1 5.35 Oxide  
CDD663 7 25 18 2.14 Mixed 100 6/94 Oxide Sulfide Ratio
including 8 11 3 10.13 Sulfide  
  35.2 49.7 14.5 0.83 Mixed 94/6 Oxide Sulfide Ratio
  61.7 76.8 15.1 0.86 Oxide Includes isolated intervals of core loss totaling 1.5m
CDD664 9.5 20.5 11 0.47 Sulfide 101.4  
49 63 14 7.49 Oxide  
including 54 62 8 12.25 Oxide  
  74 78 4 0.44 Oxide  
  82 88 6 0.81 Oxide  
CDD665 66.6 67.8 1.2 3.36 Oxide 102  
CDD709 17.5 21.5 4 0.59 Sulfide 240.5  
149.2 157.5 8.3 0.33 Sulfide Includes isolated intervals of core loss totaling 3.3m
164 174.6 10.6 2.52 Mixed Includes isolated intervals of core loss totaling 0.9m. 21/79 Oxide Sulfide Ratio
including 173.7 174.6 0.9 20.3 Oxide  
  190.3 194 3.7 0.88 Oxide  
197 229.7 32.7 2.25 Oxide  
including 209.5 210.5 1 5.43 Oxide  
CDD717 32.5 39.5 7 0.88 Mixed 308 14/86 Oxide Sulfide Ratio
125 130 5 0.41 Sulfide  
174.5 182.5 8 0.53 Sulfide  
185.5 206.9 21.4 1.27 Mixed 29/71 Oxide Sulfide Ratio
231.2 249.2 18 0.79 Oxide  
254.2 279.7 26.5 1.83 Mixed 85/15 Oxide Sulfide Ratio
including 267.7 268.7 1 25.7 Oxide  
  285 296.5 11.5 1.32 Oxide  
  299.5 308 8.5 2.93 Oxide  
including 300.6 301.6 1 7.91 Oxide  
CDD718 42.2 48.2 6 0.71 Sulfide 179  
96.3 107.7 11.4 3.87 Mixed 77/23 Oxide Sulfide Ratio
including 102.9 104.9 2 18.13 Oxide  
  110.6 118.6 8 0.3 Oxide  
  147.5 155.1 7.6 0.44 Oxide  
CDD719 95.1 108.5 13.4 1.16 Sulfide 232.9  
120.7 161.5 40.8 4.74 Mixed 80/20 Oxide Sulfide Ratio
including 129.8 133.1 3.3 6.94 Oxide  
including 137.1 141.5 4.4 25.78 Oxide  
CDD720 164.1 No Significant Interval
CDD721 74 75.5 1.5 1.35 Oxide 83.5  
79.6 83.5 3.9 1.13 Oxide  
CDD721A 83.1 93 9.9 1.08 Oxide 260.6 Includes isolated intervals of core loss totaling 1m
including 85.1 86.1 1 5.01 Oxide  
  134 139 5 0.46 Oxide  
  154.9 187.8 32.9 1.03 Oxide Includes isolated intervals of core loss totaling 1.2m
CDD725 31.3 36.5 5.2 0.73 Oxide 53.2  
CDD726 10.8 14 3.2 0.49 Oxide 50.4  
CDD728 55.5 57.2 1.7 4.69 Oxide 75.5  
including 55.5 56.3 0.8 9.35 Oxide  
CDD729 23 34.1 11.1 8.85 Mixed 73.8 89/11 Oxide Sulfide Ratio
including 24.2 25.2 1 11.55 Oxide  
including 26.2 30.1 3.9 15.88 Oxide  
including 31.1 32.1 1 8.36 Oxide  
CDD731 32 No Significant Interval. Abandoned at 32m and re-drilled as CDD731A
CDD731A 24 28.8 4.8 1.57 Oxide 45.5  
CDD733 93.5 No Significant Interval
CDD735 34.4 40.1 5.7 39.45 Mixed 67.5 75/25 Oxide Sulfide Ratio
including 37.7 39.1 1.4 155.5 Sulfide  
  47 49.2 2.2 7.74 Mixed 50/50 Oxide Sulfide Ratio
including 48.1 49.2 1.1 14.6 Sulfide  
CDD737 20 22.6 2.6 2.96 Oxide 63.5  
including 21.8 22.6 0.8 8.05 Oxide  
CDD745 117.6 120.6 3 0.42 Oxide 237.6  
CDD746 60 61 1 1.96 Oxide 106.7  
64 85.5 21.5 0.88 Mixed 40/60 Oxide Sulfide Ratio
including 65.2 66.2 1 7.38 Oxide  
CDD749 67.4 71.5 4.1 1.23 Mixed 90.6 22/78 Oxide Sulfide Ratio
76.2 88.2 12 0.42 Mixed 8/92 Oxide Sulfide Ratio
CD750 9.4 12.4 3 1.01 Oxide 87.5  
40.4 43.7 3.3 0.37 Oxide  
CDD773 59.6 64.6 5 1.83 Oxide 112.9  
69.6 77.8 8.2 4.35 Oxide  
including 73 73.8 0.8 38 Oxide  
CDD774 40.4 47.5 7.1 6.08 Oxide 121  
including 44.9 46.5 1.6 17.25 Oxide  
  104.3 112.3 8 0.3 Mixed 63/37 Oxide Sulfide Ratio
CDD775 89.6 No Significant Interval
CDD776 85.5 86.5 1 1.08 Oxide 148  
134.7 135.6 0.9 5.85 Oxide  
CDD777 39.8 40.8 1 2.03 Sulfide 175  
CDD786 55.8 58.8 3 0.63 Sulfide 115  
65.6 73.5 7.8 7.2 Oxide  
including 69.8 71.5 1.7 27.66 Oxide  
  78 89.3 11.3 4.33 Oxide  
including 78 79 1 8.54 Oxide  
including 84 85 1 5.37 Oxide  
including 87.4 89.3 1.9 13.89 Oxide  
  106 111 5 0.45 Mixed 60/40 Oxide Sulfide Ratio
CDD787 46 49 3 0.48 Oxide 86  
57 58 1 1.38 Oxide  
64.3 72.3 8 0.44 Sulfide  
75.3 78.3 3 0.53 Mixed 33/67 Oxide Sulfide Ratio
82.3 86 3.7 1.04 Sulfide 22/78 Oxide Sulfide Ratio
CDD788 89.2 90.2 1 2.32 Sulfide 104.5  
96.7 103.4 6.7 1.33 Sulfide 15/85 Oxide Sulfide Ratio
CDD789 10 11 1 2 Oxide 136.5  
45.1 58.8 13.7 0.41 Oxide  
64 76 12 0.46 Oxide  
93 100 7 2.93 Oxide  
including 96 97 1 16.1 Oxide  
CDD790 0 4 4 2.23 Oxide 115  
75.4 79.8 4.4 1 Mixed 75/25 Oxide Sulfide Ratio
CDD791 202 No Significant Interval
CDD795 48 50 2 2.13 Oxide 98.3  
85 95 10 0.63 Sulfide 20/80 Oxide Sulfide Ratio
CDD796 85 88 3 1.29 Mixed 154.7 67/33 Oxide Sulfide Ratio
93 99.2 6.2 0.67 Oxide  
109 113.5 4.5 0.32 Oxide  
128.9 131.7 2.8 0.84 Oxide  
CDD798 46.6 50.9 4.3 1.17 Mixed 125.5 70/30 Oxide Sulfide Ratio
82 85 3 0.63 Oxide  
91 96.8 5.8 1.15 Oxide  
115.6 117.6 2 1.31 Sulfide  
CDD809 92.7 94.7 2 1.27 Oxide 138  
CDD810 106.9 111.6 4.7 0.41 Oxide 115  
 

Significant gold intervals reported at a nominal 0.3 g/t gold cut-off and with a maximum 2.5m contiguous dilution are given in Table 1. All thicknesses are downhole length and true widths are not known at this stage.

 

To view the complete drill assay results and further technical information relating to this news release, please visit the Company’s website at www.alacergold.com.

 

About Alacer

 

Alacer is a leading low-cost intermediate gold producer whose primary focus is to leverage its cornerstone Çöpler Gold Mine and strong balance sheet as foundations to continue its organic multi-mine growth strategy, maximize free cash flow and therefore create maximum value for shareholders. The Çöpler Gold Mine is located in east-central Turkey in the Erzincan Province, approximately 1,100 kilometers (“km”) southeast from Istanbul and 550km east from Ankara, Turkey’s capital city. Alacer owns an 80% interest in the world-class Çöpler Gold Mine (“Çöpler”) in Turkey operated by Anagold Madencilik Sanayi ve Ticaret A.S. (“Anagold”), and the remaining 20% owned by Lidya Madencilik Sanayi ve Ticaret A.S. (“Lidya Mining”).

 

Alacer continues to pursue opportunities to further expand its current operating base to become a sustainable multi-mine producer with a focus on Turkey. The Çöpler Mine is processing ore through two producing plants. With the recent completion of the sulfide plant, the Çöpler Mine will produce over 3.5 million ounces at first quartile All-in Sustaining Costs, generating robust free cash flow for approximately the next 20 years.

 

The systematic and focused exploration efforts in the Çöpler District have been successful as evidenced by the newly discovered Ardich deposit. The Çöpler District remains the focus, with the goal of continuing to grow oxide resources that will deliver production utilizing the existing Çöpler infrastructure. In the other regions of Turkey, targeted exploration work continues at a number of highly prospective exploration targets.

 

Posted September 27, 2019

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