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Alacer Gold announces positive Definitive Feasibility Study for Çöpler Gold Mine
TORONTO , June 16, 2014 /CNW/ -  Alacer Gold Corp. ( "Alacer" or the "Company" ) ...
About this update from Allied Strategic Resources Corp
[{"type":"text","content":"\n\nTORONTO, June 16, 2014 /CNW/ - Alacer Gold Corp. (\"Alacer\" or the \"Company\") [TSX: ASR and ASX: AQG] is pleased to announce the positive results of the Definitive Feasibility Study (\"DFS\") for the processing of sulfide ore through whole ore pressure oxidation (\"POX\") at its Çöpler Gold Mine in Erzincan Province, Turkey.  The Company has completed extensive technical, design, engineering and procurement studies in preparing the DFS and will be carrying out basic engineering and further optimization studies, as well as completing the permitting process, in advance of a construction decision anticipated in the first quarter of 2015.  \n\nThe results of the DFS incorporate the outcomes of the Resource Reconciliation Study to date and resulted in new Çöpler Mineral Resources and Mineral Reserves estimates.  See the separate announcement issued today titled \"Alacer Gold Announces Results of Ongoing Resource Reconciliation Study for the Çöpler Gold Mine\" for further information.\n\nTogether, the results of the DFS and the Mineral Resources and Reserves update represent a material step forward for the Company. They demonstrate the viability of processing sulfide ore at the mine, thereby extending the mine life while generating attractive and robust financial returns.  \n\nThese outcomes show that the Company is on track to deliver the action plan laid out in September 2013 and is well on its way to the longer-term strategy of becoming a multi-mine producer in Turkey.\n\nKey Highlights of the Definitive Feasibility Study(all currency in US dollars and all metrics on a 100% basis1)\n\n\nThe DFS demonstrates the robustness of the sulfide project \n\nIn addition to the existing heap leach processing of oxide ore, the POX facility provides the ability to process sulfide ore at 5,000 tonnes per day, and will result in a 20-year mine life \nFrom July 1, 2014, life-of-mine gold production of 3.2 million ounces, including both oxides and sulfides:\n\nTotal Cash Costs2 of $540/ounce \nAll in Sustaining Costs2 of $580/ounce \nAll in Costs2 of $801/ounce \nOxide life-of-mine gold production increased 24% or 134,000 ounces \nConstruction expected to start in Q2 2015 with commissioning in Q4 2017 \nThe DFS project will generate attractive financial returns Based on capital expenditu...