Alacer Contemplates 2-Stage Development for Gediktepe
Gediktepe is a polymetallic orebody that contains economic values for gold, silver, copper, and zinc. A sulphide deposit is overlain by oxide ore containing gold and silver that is amenable to heap leaching.
Gediktepe will be an open-pit mine. Oxide ore will be processed first to provide cash flow for the development and subsequent processing of the more prevalent sulphide ore. The sulphide ore contains gold, silver, copper, and zinc and will be processed through a multistage flotation circuit.
Capital expenditures to develop the oxide project are estimated at $111 million. All-in costs are estimated at $763/ gold equivalent oz. Sulphide processing is planned at 6,500 metric tons per day (mt/d) over a 10- year period utilizing two four-stage flotation circuits to produce a copper concentrate and zinc concentrate. Life-of-mine sulphide production is estimated at 315 million lb of copper, 780 million lb of zinc, 150,000 oz of gold, and 4.6 million oz of silver.
Sulphide capital expenditures are estimated at $135 million, including $9 million in pre-production capital, $104 million spent during the first two years of production, and $22 million in sustaining capital. All-in costs are estimated at $1.67/copper equivalent lb.
The Gediktepe project is now moving into a detailed study phase, where technical work will continue to advance along with basic engineering. During this phase, necessary land use permits will be secured and financing options will be considered.
Alacer Gold is also 80% owner and operator of the «Ųpler gold mine in eastern Turkey. «Ųpler production during 2016 is forecast at 150,000 to 170,000 oz at total cash costs of $575 to $625/oz. «Ųplerís oxide ore is currently being processed in a conventional crush, agglomeration, heap-leach, and gold-recovery circuit. Construction of a sulphide project is currently in progress.