SSR Mining Inc. announced positive results from 151 diamond drill holes for the Çakmaktepe Extension (Ardich) for the period from May 2021 to June 2022. These results build upon, and are subsequent to, the Çakmaktepe Extension Mineral Reserves reported in the Çöpler Technical Report Summary (“TRS”) effective as of December 31, 2021, in which the Çakmaktepe Extension deposit contributed 1.2 million ounces of gold production to the Çöpler life of mine production profile beginning in 2023 for total development capital of $69 million. As outlined in the TRS, the Çakmaktepe Extension currently hosts 1.7 million ounces of Mineral Reserves, along with an additional 0.6 million ounces of Measured & Indicated Mineral Resources and 0.8 million ounces of Inferred Mineral Resources. Of the 151 diamond drill holes included in this news release, 34 were infill within the current Mineral Reserve pit, 82 targeted Mineral Reserve conversion within the existing Mineral Resource block model, and 35 were step-out intercepts identifying new mineralization outside of existing Mineral Resources. The drilling program aimed to both upgrade and expand the existing Mineral Reserves and Resources at Çakmaktepe Extension (see Figure 2 and 3) (Table 1), with highlight drill intercepts including:
AR461: 8.23 g/t Au over 28.3 meters from 138.0 meters, o including: 21.09 g/t Au over 4.0 meters from 154.0 meters, o including: 24.95 g/t Au over 3.0 meters from 162.0 meters. AR514: 2.46 g/t Au over 53.0 meters from 160.0 meters. AR536: 2.38 g/t Au over 55.8 meters from 110.6 meters. AR544: 5.24 g/t Au over 27.1 meters from 130.3 meters. AR558: 5.20 g/t Au over 27.6 meters from 149.1 meters, o including: 13.66 g/t Au over 4.2 meters from 160.4 meters.
Rod Antal, President and CEO of SSR Mining said, “Çöpler has evolved significantly over its more than 10-year operating life, and the Çakmaktepe Extension project represents the next phase of growth for the asset. As highlighted in the 2021 TRS, the Çakmaktepe Extension will add 1.2 million ounces over 15+ years of production for an expected$69M in development capital, representing one of the highest return growth projects in the entire sector. These drill holes provide both improved confidence for the Çakmaktepe Extension mine plan and set the stage for additional growth at the project. We will incorporate these results into an updated Mineral Reserve and Resource statement for the deposit in an updated Technical Report Summary for Çöpler expected in 2023.
In addition to the positive drill results, we have continued to de-risk the Çakmaktepe Extension project startup during the third quarter of 2022 with the receipt of the Environmental Impact Assessment (“EIA”) for the first phase of the project. Clearly, Çöpler’s best days lie ahead, with value accretive growth opportunities like our C2 project on the horizon and a wealth of exploration targets to advance across the district in the years to come.
The Çakmaktepe Extension was discovered in 2017 and is located 1.5km north of the Çakmaktepe mine and 6km from the Çöpler operations, enabling both oxide and sulfide ore to be processed with existing Çöpler Mine processing infrastructure (see Figure 1). The 2022 drilling plan aims to deliver additional Mineral Reserve and Resource growth at Çakmaktepe Extension beyond the mine plan incorporated into the 2021 TRS. The deposit remains open to the southwest and at depth, and the site team has also advanced additional metallurgical testing at the project with the focus on improving oxide recoveries.
Figure 1: Location map of the Çakmaktepe Extension Project.
The Çakmaktepe Extension deposit is a listwanite-dolomite hosted gold replacement mineralization occurring along thrust fault zones between listwanite, ophiolite, dolomite, cataclastite, hornfels, and limestone. Mineralization and alteration extend in a NW-SE direction, parallel to major high angle fault structures controlling both mineralization and block rotations. Gold grades increase at dolomite-listwanite contacts and within silica-rich (jasperoid) listwanites. The mineralization is predominantly oxide (67% of existing Mineral Reserves) with sulfide mineralization confined to pyriterich jasperoid zones. Based on available drill data, the main mineralized zone appears tabular and almost flat lying. As exploration advances and the geological understanding of the Çakmaktepe and Çakmaktepe Extension deposits increases, it appears that there is probable structural connectivity between the areas, potentially creating an expanded “Greater Çakmaktepe” development pathway
Figure 2: Drill hole locations and surface outline of Reserve Pit Boundary.
Figure 3: Section showcasing highlighted drill holes against the Reserve pit shell.
SSR Mining has drilled 578 diamond core holes at the Çakmaktepe Extension between August 2017 and June 2022, totaling 121,536 meters. The majority of these drill holes were drilled within SSR Mining’s 80% owned and managed licenses and approximately 88% of the existing Çakmaktepe Extension Mineral Reserves are located on ground held 80% by SSR Mining, with the remainder located on ground 50% held by SSR Mining.1 The 151 holes announced in this news release total 34,496m of drilling that was completed between May 2021 and June 2022 (hole IDs AR428-AR578). These holes targeted Mineral Reserve conversion and potential Mineral Reserve and Resource growth at the Çakmaktepe Extension. The Çakmaktepe Extension mineralization dips gently towards the southeast and is interpreted to become deeper due to faulting and topography.
Table 1: Significant gold intercepts at the Çakmaktepe Extension project.
The Çakmaktepe Extension drilling program started in 2017. Diamond drill core is sampled as half core at 1m intervals or geological contacts. Sampling interval varies between 0.5 meters and 3.3 meters with an average of 1.37 meters length. The samples were submitted to ALS Global laboratories in Izmir, Türkiye for sample preparation and analysis which is an ISO/IEC 7025:2005 certified and accredited laboratory. Bureau Veritas (Acme) laboratory, in Ankara, Türkiye was used for umpire check sample analysis. Gold was analyzed by fire assay with an AAS finish, and the multi-element analyses were determined by four acid digestion and ICP-AES and MS finish. For gold assays greater than or equal to 10 g/t, the fire assay process was repeated with a gravimetric finish for coarse gold. The drill and geochemical samples were collected in accordance with accepted industry standards. SSR Mining conducts routine ll assay results, including the systematic utilization of certified reference materials, blanks, field duplicates, and umpire laboratory check assays. External review of data and processes relating to Çakmaktepe Extension was completed by independent consultant Dr. Erdem Yetkin, P.Geo. in September 2022. There were no adverse material results detected and the QA/QC indicates the information collected is acceptable, and the database can be used for further studies.
(Source: Press Releases – www.s22.q4cdn.com/546540291/files/doc_news/2022/10/SSR-MINING-ANNOUNCES-POSITIVE-EXPLORATION-RESULTS-FOR-THE-C%CC%A7AKMAKTEPE-EXTENSION-PROJECT.pdf)
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