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Alacer Gold announces results of ongoing resource reconciliation study for the Çöpler Gold Mine
TORONTO , June 16, 2014 /CNW/ - Alacer Gold Corp. ( "Alacer" or the "Company" ) [TSX...
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] announces updated Mineral Resources and Reserves estimates for the Çöpler Gold Mine in Turkey as a result of the initial outcomes from the ongoing resource reconciliation project.    \n\nHighlights \n\n\nMeasured and Indicated Mineral Resources have increased by 0.62 million ounces (+9%) to 7.80 million ounces of contained gold. \nMineral Reserves have increased by 0.21 million ounces (+6%) to 3.84 million ounces of contained gold. \nThe oxide grade has increased by 34% to 1.32g/t gold and the sulfide grade has increased by 14% to 2.67g/t gold for the Mineral Reserves. \nThe Resource Reconciliation Study (the \"Study\") has provided the basis for these additional recoverable ounces from both the oxide and sulfide ore, and work on the Study is continuing.\nThese Mineral Resources and Reserves were estimated in conjunction with the Definitive Feasibility Study (\"DFS\") evaluating the construction of a sulfide ore processing facility for the Çöpler Gold Mine. Alacer released a separate announcement today regarding this DFS. \n\nRod Antal, Alacer's Chief Executive Officer, stated, \"Çöpler's substantial Mineral Resources and Reserves form the foundation of this world-class mine.  The oxide component of Çöpler's Probable Mineral Reserve now totals 1.12 million ounces with a 34% increase in the oxide reserve grade to 1.32g/t gold.  This increased grade provides a valuable uplift to our current heap leach operation which is forecast to provide positive operating cash flows until at least 2019. \n\n\"The sulfide component of Çöpler's Probable Mineral Reserve has increased to 2.72 million ounces with a 14% increase in the sulfide reserve grade to 2.67g/t gold with less tonnes being mined. As a result of the higher grade, the initial production profile for the sulfide project has greatly improved.\n\n\"The new resource model utilizes the empirical data from the last four years of mining the Çöpler orebody and improved understanding of the geology.  The results have provided a resource model that better reflects what we have actually mined to date and an improved estimate of the ore tonnes and grade from the Çöpler pits in the future...