Alacer Gold Announces Positive Definitive Feasibility Study Results for Turkish Asset
Leading intermediate gold producer Alacer Gold has reported promising definitive feasibility study (DFS) results for the processing of sulphide ore at its Copler mine in Erzincan Province, Turkey.
The company has completed extensive technical, design, engineering and procurement studies in preparing the DFS and will be carrying out basic engineering and further optimization studies, as well as completing the permitting process in advance of a construction decision anticipated in the first quarter of 2015.
The results demonstrate the viability of processing sulphide ore at the mine, thereby extending the mine life while generating attractive and robust financial returns while showing that Alacer is on track with its action plan laid out in September 2013.
Copler was expected to process sulphide ore at a rate of 5 000 t/d and would result in a 20-year mine life for the project. The company had already accumulated a stockpile of more than two-million tonnes of sulphide ore, grading 4.9g/t gold, ready to be processed.
Rod Antal, Alacer’s Chief Executive Officer, said: “The results of this DFS are an important and positive milestone for Alacer that not only reconfirms the world class nature of the Çöpler Mine but provides a definitive pathway for Çöpler, and positive cash flow for Alacer for the next 20 years.
A more detailed breakdown of the findings can be found here: http://www.alacergold.com/download/news_releases/news_releases_2014/2014 06 16 DFS FINAL.pdf