Business
Alacer Gold to pursue POX as sulfide ore processing method
TORONTO , Nov. 4, 2013 /CNW/ - Alacer Gold Corp. ( "Alacer" or the "Corporation" ) ...
About this update from Allied Strategic Resources Corp
[{"type":"text","content":"\n\n\nTORONTO, Nov. 4, 2013 /CNW/ - Alacer Gold Corp. (\"Alacer\" or the \"Corporation\") [TSX: ASR and ASX: AQG] is pleased to announce its intention to pursue whole ore pressure\n oxidation (\"POX\") as the processing method for sulfide ore at its Çöpler Gold Mine in\n Erzincan Province, Turkey. Alacer recently completed an exhaustive\n technical review that confirmed POX provides the best economic return\n for processing the Çöpler sulfide ore. Alacer will host a conference\n call to discuss this decision on Monday, November 4 at 5.00 p.m. (North\n America Eastern Standard Time) and Tuesday, November 5 at 9:00 a.m.\n (Australian Eastern Daylight Time).  Details for the conference call\n are set forth below.\n\n\n\"Alacer has examined all processing options in a systematic, organized\n and disciplined manner. We believe that the approach to project\n development that we are announcing today will maximize our portfolio\n value while minimizing project risk and delivering the best return to\n our shareholders,\" said Mr. Rodney P. Antal, Alacer's Chief Executive\n Officer. Mr. Antal continued, \"We recognize that today's decision has\n taken a long time. Given the current gold price environment and\n volatile market conditions, we have taken a deliberate approach to\n growing our business.  As part of this approach, we deemed it necessary\n to thoroughly review and analyze all test work to ensure that POX is\n the best commercial option for processing the Çöpler sulfide ore.\"\n\n\nAlacer's near-term organic growth is focused on development of the\n sulfide ore at the Çöpler Gold Mine. The sulfide Measured and Indicated\n Resource of 120.9 million tonnes at 1.5g/t gold represents 62% of the\n total tonnes in the Measured and Indicated Resource at Çöpler, or 6.0\n million contained gold ounces out of the total 8.5 million contained\n gold ounces.\n\n\nAlacer is taking a phased approach to the project whereby it will design\n a 5,000 tonne per day (\"tpd\") plant that can be scaled up if conditions warrant in the future. A\n Definitive Feasibility Study (\"DFS\") is currently underway and it is expected that the results of this\n study will be announced no later than June 2014. Upon release of the\n DFS, the Corporation's Board of Directors will decide whether to\n procee...