A study of drilling results from Alacer Gold Corp.’s (TSX: ASR /ASX: AQG) Çakmaktepe Mine in Turkey have significantly confirmed and extended a number of promising prospects.
The drill results cover the Mavialtin Porphyry Belt, a structural corridor approximately 6 to 7km wide and extending over approximately 20km from Alacer’s producing Çakmaktepe Mine to the Mavidere porphyry deposit.
Mavialtin hosts at least four areas of porphyry gold copper mineralisation, namely Mavidere, Findiklidere, Saridere and Aslantepe.
Building off historical exploration work, Alacer remapped, reinterpreted and then drilled an additional 16 diamond drill holes (nine in Mavidere, five in Findiklidere and two in Aslantepe), with he drilled holes confirmed and extended the known extent of mineralization in Mavidere, Findiklidere and Aslantepe.
The tested porphyries are at or close to surface, with mineralisation typical of porphyries and appear to be low in other metals and arsenic. Notable hole intercepts for each of the drilled porphyries from the 2018 and 2019 drilling campaign include:
- 1m @ 0.34% Cu and 0.55 g/t Au from the surface and 73.1m @ 0.24% Cu and 0.28 g/t Au from 281.1m and 6m @ 0.25% Cu and 0.22 g/t Au from 361.2m and 26m @ 0.32% Cu and 0.28 g/t Au from 375.2m and 35m @ 0.33% Cu and 0.17 g/t Au from 432.2m and 104m @ 0.31% Cu and 0.18 g/t Au from 476.2m
- 1m @ 0.84% Cu and 0.37 g/t Au from 13.4m and 40m @ 0.31% Cu and 0.11 g/t Au from 52.5m and 16.5m @ 1.27% Cu and 0.07 g/t Au from 139.5m and 62m @ 0.27% Cu and 0.04 g/t Au from 190.4m and 5m @ 0.34% Cu and 0.1 g/t Au from 302m and 7m @ 0.23% Cu and 0.06 g/t Au from 333.5m and 36.1m @ 0.37% Cu and 0.08 g/t Au from 352.5m, and 9m @ 0.23% Cu and 0.04 g/t Au from 399.6m, and 26.7m @ 0.27% Cu and 0.07 g/t Au from 414.6m
- 9m @ 0.22% Cu and 0.45 g/t Au from 46.7m In addition to the 16 holes drilled in 2018 & 2019, 184 holes from earlier drill programs which were not previously disclosed are included in the Supporting Drill Information on our website at www.alacergold.com. T
The exploration and future development strategy for Mavialtin is two‐fold:
- Expand the known areas of mineralisation, while concurrently making new discoveries, to economically justify a standalone mine; and/or
- Develop a Mavialtin Complex where various smaller deposits could be processed through a common central facility.
The portion of Mavialtin covered by the Anagold leases is 80% owned by Alacer and the portion covered by the Kartaltepe leases is 50% owned by Alacer, in each case, through a joint venture with its long‐term partner Lidya. Alacer also holds a 2% net smelter return for two of the Mavialtin Kartaltepe leases which include Çakmaktepe, Bayramdere, Aslantepe and part of Findiklidere.
In 2020 shallow holes will be drilled through the moraine cover to the SE. This area was not previously tested due to the lack of surface expression of the porphyry mineralisation or geochemistry (grades).