TORONTO, July 17, 2016 (GLOBE NEWSWIRE) -- Alacer Gold Corp. (“Alacer” or the “Company”) (TSX:ASR) and (ASX:AQG) reports that after initiating our contingency plans, the Company is able to confirm that all personnel have been accounted for and are safe. All activities at the Çöpler Mine are operating as normal and there were no local disruptions. Alacer will continue to closely monitor the situation over the coming days. The Çöpler Mine is located in east-central Turkey in the Erzincan Province, approximately 700 miles southeast from Istanbul, Turkey and 340 miles east from Ankara, Turkey’s capital city.
About Alacer
Alacer is a leading intermediate gold mining company, with an 80% interest in the world-class Çöpler Gold Mine in Turkey operated by Anagold and the remaining 20% owned by Lidya Mining. The Company’s primary focus is to leverage its cornerstone Çöpler Mine and strong balance sheet to maximize portfolio value, maximize free cash flow, minimize project risk and, therefore, create maximum value for shareholders.
Alacer is actively pursuing initiatives to enhance value beyond the current mine plan:
- Çöpler Oxide Production Optimization – expansion of the existing heap leach pad to 58 million tonnes continues to advance. All required land use permits for the Heap Leach Pad Phase 4 expansion have been received. The Corporation continues to evaluate opportunities to optimize and extend oxide production beyond the current reserves, including a new heap leach pad site to the west of the Çöpler Mine.
- Çöpler Sulfide Project – the Sulfide Project will deliver long-term growth with robust financial returns and adds over 20 years of production at Çöpler. The Sulfide Project will bring Çöpler’s remaining life-of-mine gold production to 4 million ounces[1] at All-in Sustaining Costs[2] averaging $645 per ounce. The Environmental Impact Assessment and all required land use permits for construction have been approved. Detailed information regarding the Çöpler Sulfide Project can be found in the Press Release dated May 12, 2016 entitled “Alacer Gold Announces Çöpler Sulfide Project Approval” (“The Sulfide Project Update Press Release”) available on SEDAR at www.sedar.com and on the Corporation’s website.
- The Corporation continues to pursue opportunities to further expand its current operating base and to become a sustainable multi-mine producer with a focus on Turkey. The systematic and focused exploration efforts in the Çöpler District, as well as in other regions of Turkey are progressing. Yakuplu Southeast, Yakuplu East, Yakuplu North and Bayramdere are the main focus in the Çöpler District, which are shallow, oxide targets with favorable metallurgy and have the potential for rapid development. In the region, evaluation work is advancing and an update on the Dursunbey Project in western Turkey will be provided in Q3 2016.
Detailed information regarding the Çöpler Sulfide Project can be found in the Technical Report dated March 27, 2015 available on SEDAR at www.sedar.com and on the Company’s website.
Alacer is a Canadian company incorporated in the Yukon Territory with its primary listing on the Toronto Stock Exchange. The Company also has a secondary listing on the Australian Stock Exchange where CDIs trade.
[1] Alacer has an 80% controlling interest of the Çöpler Gold Mine.
[2] All-in Sustaining Costs is a non-IFRS financial performance measure and has no standardized definitions under IFRS. For further information and detailed reconciliation, please see the “Non-IFRS Measures” section of the MD&A for three months ended March 31, 2016.