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03/03/2024
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Alacer Gold Announces Further Exploration Results for the Copler District

Alacer Gold Corp. is pleased to announce drilling results through May 31, 2016 from the Company’s 2016 Çöpler District exploration program in Turkey.

Drilling results are from an additional 17,361 meters of drilling at the Çakmaktepe North prospect approximately 5 km east of the Çöpler Mine. These results are in addition to drill results released on December 9, 20151 and March 31, 20161.

Supported by

Rod Antal, Alacer’s President & Chief Executive Officer, stated, “We’ve taken a disciplined approach to our exploration program and have focused on the discovery of satellite leachable oxide mineralization that has the potential to provide supplemental feed to the existing Çöpler heap leach pad. This latest round of Çakmaktepe North drill results represent a significant step forward in progressing this objective and the results continue to confirm the potential to add oxide production within the next two years at Çöpler.

The 2016 program includes infill drilling with the aim to validate data to support the resource estimation for a maiden resource later this year. With the mineralization at Çakmaktepe North still open in all directions, the maiden resource will only include the drilling for a portion of the mineralization. We have drilled over 30,000 meters at Çakmaktepe North and still have nine drill rigs on site to progress this highly promising exploration prospect. In expectation of advancing this prospect, the permitting process is underway.”
Çakmaktepe North is the largest of six current gold prospects within a 5 km to 7 km proximity of the existing Çöpler Mine infrastructure. Initial and follow-up results from exploration drilling at Çakmaktepe North were provided in press releases dated December 9, 20151 and March 31, 20161. The drilling conducted between January 1 to May 31, 2016 included infill drilling and continues to expand on the initial 2015 discovery. The Çakmaktepe area contains a network of structures allowing for gold mineralization to occur within multiple lithologies. The mineralization style is similar to the Çöpler Deposit and is expected to be processed through the existing crushing and agglomeration circuit and stacked on the existing heap leach pad facility at the Çöpler Mine.

Based on the results to date, the Çakmaktepe prospect will continue to advance in 2016 with the intention of releasing a maiden mineral resource later this year.
The mineralized system is currently open in all directions, providing the potential for additional mineralization.
Initial design work for the proposed haul road to Çöpler has been undertaken.
The permitting process is underway.

Drilling from the Çakmaktepe North prospect in the Çöpler District in central eastern Turkey has continued to define near-surface leachable oxide mineralization.

Alacer’s exploration licenses surrounding the Çöpler Gold Mine span across a 17 km by 25 km area. The exploration licenses are managed under two separate joint ventures. Alacer owns 80% of the licenses adjacent to Çöpler Mine under the Anagold Madencilik Sanayi ve Ticaret A.S. JV and 50% of the remaining licenses in the Çöpler District under the Kartaltepe JV, both in partnership with Lidya Madencilik Sanayi ve Ticaret A.S.

The Çöpler District Prospects & Tenements accompanying this announcement is available at
Çakmaktepe North

Çakmaktepe North is a 2015 discovery that was identified from rock chip and soil sampling in early 2014. A drilling program commenced in June 2015 to define mineralized gossan on a 50m x 40m spacing over a strike length of 700m. As of May 31, 2016, a total of 29,744 meters of reverse circulation and diamond core drilling has been completed from 174 holes. This is the third exploration press release for Çakmaktepe North.

The Çakmaktepe North mineralization is contained within shear and thrust hosted jasperoid, iron rich gossan, brecciated limestone and altered metasediments. There are multiple controls on mineralization with strong epithermal textures and associated structural overprints. The main body of mineralization is associated with a subvertical shear zone referred to as the ‘Main Shear’. The Main Shear varies in width from 5m to 40m, has been defined to a depth of 200m to 250m from surface, and dips at approximately 70 degrees to the east. Surface mapping and sampling have defined the mineralized extent of the shear as being over a kilometer in length, of which 700m has now been drill tested.

Results and outcomes presented in this release are from 17,361 meters of RC drilling and DDH from 107 holes completed between January 1 and May 31, 2016.

Drilling to date has not closed-off the mineralized system. Infill drilling to a spacing required for classification as a mineral resource estimate is in progress. The 2016 resource development strategy has focused on infilling and extending down-dip the northern 450m strike extent of the shear zone. Priority has been placed on validation of grade, mineralization distribution and continuity in the areas of highest gold grades.

Of the 107 holes completed in 2016, 18 were specifically designed as large diameter scissor holes drilled into the mineralization in the opposite direction to the current drill pattern. All 18 holes validated the accuracy of the geological model, replicated mineralization distribution and grade, as well as provided samples for metallurgical test work in Q2 and Q3 of 2016.

Of the 107 holes completed, there were 4 groundwater monitoring boreholes drilled as part of resource development, of which 2 intercepted significant mineralization in new areas peripheral to potential pit designs. All four holes were equipped with piezometers as part of a program to develop a hydrogeological model for permitting.

Since the Press Release issued on March 31, 2016 there has been significant evolution of the geological understanding of Çakmaktepe North through step-out and infill drilling. Although still the major trap for mineralization, the ‘Main Shear’ intersects a shallow thrust on its western footwall which is also mineralized. The structure is referred to as the ‘Footwall Thrust’ and is now recognized as a potential contributor of new gold to the Çakmaktepe North prospect. The Footwall Thrust is still to be fully drill tested, but to date extends over 150m to the west from its intersection with the Main Shear, has a strike of 350m and varies in thickness from 5m to 15m. Mineralization within the Footwall Thrust is hosted within iron rich jasperoid, gossan and underlying brecciated limestone. The Footwall Thrust defines the contact between overlying ophiolite and limestone, occurring within 150m of surface.

In the process of extending the down-dip extent of high grade Main Shear mineralization, drilling in 2016 has identified metasediments forming the hanging wall to the Main Shear to also be mineralized. Grade enhancement occurs where the metasediments are proximal of the Main Shear and intersected by mineralized diorite dykes. The metasediment forms a distinct hanging wall domain with ore type characteristics and grades similar to metasediments within the Ҫöpler Main pit.

Extensive development drilling continues to close the drill spacing in the high grade area of mineralization from 50m x 40m to 25m x 20m to a depth of 250m below surface for mineral resource estimation in 2016. Drilling from June to September 2016 will also focus on extending the mineralized Main Shear and Footwall Thrust 150m to the north.

Drilling after October 2016, will focus southwards along strike of the Çakmaktepe North prospect to test whether shear hosted mineralization at the Çakmaktepe Main target can be connected to the Çakmaktepe North prospect. The Çakmaktepe Main prospect hosts recent small-scale mining where iron rich gossan was previously extracted by another company. Residual Çakmaktepe Main gossan stockpiles report gold values of >1.0g/t Au.

The Çakmaktepe North prospect plan and an example section with significant assays follows.

The Çakmaktepe North Prospect Section NW700 accompanying this announcement is available at

source: juniorminingnetwork.com

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