Alacer Gold increases Turkish Mineral Resource

THE DRILL SERGEANT: Alacer Gold. (ASX: AQG) has announced an updated Mineral Resource estimate for the company’s Çöpler gold-silver-copper deposit in Turkey.

The updated Çöpler resource estimate has resulted in Measured and Indicated Resources increasing to 194.2 million tonnes at 1.4 grams per tonne gold, for 8.5 million ounces (inclusive of reserves).

“I am pleased to report that the Measured and Indicated Resource at Çöpler has increased for both oxide and sulphide mineralization since our last resource statement in December 2012, more than replacing mine production during the period,” Alacer Gold president and CEO David Quinlivan said in the company’s announcement to the Australian Securities Exchange.

“It is also significant that the new resource model has under-estimated the ounces in the area mined to June 30, 2013 by 11 per cent identifying potential upside to this new resource estimate.

“This resource update will form the basis of ongoing Çöpler oxide and sulphide mine studies.

“We have recently increased our regional exploration activities in the Çöpler District and are encouraged by the quality of targets being generated“.

Alacer Gold considers the Çöpler mine is likely to be the first of several significant gold deposits to be discovered and mined in the Çöpler District.

The copany indicated the Çöpler District to be its highest priority area for gold exploration and discovery.

Alacer Gold has recently increased its license holding in the Çöpler District, increased regional geological, geochemical and geophysical survey activities, and commenced the drilling of high-priority oxide-gold targets within a twenty kilometre radius of the Çöpler deposit.