The step-out drilling programme under way at the Ardich project, 6 km from the Çöpler mine, in Turkey, has confirmed a “significant” extension of the mineralisation, TSX- and ASX-listed Alacer Gold reported on Wednesday.
The interim indicated mineral resource increased by 28% to 816 600 contained gold ounces and the inferred resource increased by 519% to 593 900 contained gold ounces.
The updated resource estimate consists of predominantly oxide ore, with some sulphide ore.
“The Ardich mineral resource has grown into a significant discovery,” said president and CEO Rod Antal.
Exploration continued and was being accelerated with seven diamond drill rigs currently on site.
“We are continuing to define the extent of the mineralisation, with the expectation that the deposit will continue to grow with additional drilling,” said Antal.
He added that Ardich was considered an important part of Alacer’s medium-term growth strategy to deliver additional oxide production from near-mine deposits. Ardich and Çöpler Saddle abut existing active mining areas.
The company is working on options for starter pits. At the same time, the exploration team is exploring the south-eastern area of Ardich, which though less explored, could be brought into production faster given its proximity to, and probable connection with, Çakmaktepe.
“We are in an enviable position to have multiple processing options adjacent to quality near-mine targets such as the Ҫӧpler Saddle and Ardich. We are working on the development plans to deliver additional ounces in both the shorter and for the long term.”