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