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Alacer Gold Drilling Confirms Extension of Ardich Mineralization

Mining News - Published on Fri, 29 Nov 2019

Image Source: globenewswire.com/
Alacer Gold Corp announced that the ongoing Ardich step-out drilling program confirms a significant extension of the mineralization. The interim Indicated Mineral Resource increased 28% to 816,600 contained gold ounces and the Inferred Mineral Resource increased by 519% to 593,900 contained gold ounces. Exploration has been focused on determining the extent of the viable mineralized target rather than infill drilling for resource conversion. Exploration continues and is being accelerated with 7 diamond drill rigs currently on site. The interim Mineral Resource extends approximately 1.4 km along a NW/SE strike, representing areas with enough drill density to define a resource. Surface mapping indicates the mineralized target could extend beyond 2 km. Ardich is located approximately 6 km northeast of the Qopler Gold Mine.

The updated Mineral Resource estimate consists of predominantly oxide ore, with some sulfide ore, totaling
Indicated Mineral Resource of 816,600 ounces of gold at an average grade of 1.60 Au g/t (15.86Mt)
Inferred Mineral Resource of 593,900 ounces at an average grade of 2.1 Au g/t (8.80Mt)

Alacers President and CEO Mr Rod Antal said “The Ardich Mineral Resource has grown into a significant discovery. We are continuing to define the extent of the mineralization, with the expectation that the deposit will continue to grow with additional drilling. Ardich is an important part of our medium-term growth strategy to deliver significant additional oxide production from near-mine deposits. Both Ardich and Qopler Saddle abut existing active mining areas. Our study team is working on options for starter pits and concurrently the exploration team is rapidly exploring the SE area of Ardich, which though less explored, shows great promise and may be brought into production faster given its proximity to, and probable connection with, Qakmaktepe. We are in an enviable position to have multiple processing options adjacent to quality near-mine targets such as the Qopler Saddle and Ardich. We are working on the development plans to deliver additional ounces in both the shorter and for the long term.”

Highlights

The Mineral Resource is predominately oxide ore, with some sulfide ore

Ardich is adjacent to the Qopler Mine and processing facilities which have an existing haul road connecting the nearby Qakmaktepe operations

Qopler processing facilities provide potential processing options for both sulfide and oxide ores.

Exploration continues at Ardich and mineralization remains open.

Mineralization strike length is at least 1.4km long and mapping indicates it may extend more than 2km

Source :

Posted By : Rabi Wangkhem on Fri, 29 Nov 2019
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