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Anatolia technical report confirms Copler gold-silver reserves and positive economics for Phase 1
TORONTO, Nov. 12 /CNW/ - Anatolia Minerals Development Limited ("Anatolia" or the "Company") (TSX...
About this update from Allied Strategic Resources Corp
[{"type":"text","content":"\n\n\n\nTORONTO, Nov. 12 /CNW/ - Anatolia Minerals Development Limited\n("Anatolia" or the "Company") (TSX:ANO) announces results from an updated\ntechnical report for the initial phase of development ("Phase 1") at its\nCopler Gold Mine ("Copler") in Turkey. The technical report represents work as\noutlined in Canadian National Instrument 43-101, Standards of Disclosure for\nMineral Projects, for public disclosure of resources and is available through\nSEDAR at www.sedar.com and on the Company's web site at\nwww.anatoliaminerals.com.\n\n\nProven and probable reserves included in the Phase 1 mine plan are 40.8\nmillion tonnes grading 1.65 grams per tonne ("gpt") gold and 3.75 gpt silver\n(Proven: 32.8 million tonnes grading 1.69 gpt gold and 4.08 gpt silver;\nProbable: 8.0 million tonnes grading 1.50 gpt gold and 2.44 gpt silver).\nDuring this initial phase, 15,500 tpd will be delivered to the three stage\ncrushing facility, crushed to a nominal 1/2 inch size and placed on the heap\nleach pad for processing. The life-of-mine stripping ratio is reported at\n1.5:1. The technical report confirms management's expectation of producing 1.3\nmillion ounces gold and 1.0 million ounces silver over approximately eight\nyears. Phase 1 capital costs total $169.5 million and life-of-mine cash\noperating costs are $260 per ounce gold, producing an unlevered, after-tax\ninternal rate of return of 28.1% (at US$700 gold and US$12 silver).\n\n\nEdward Dowling, President and CEO of Anatolia stated, "This report\nprovides a high degree of confidence to our Phase 1 reserves, development plan\nand anticipated economics. The oxide mineralization is generally near surface\nand amenable to conventional open pit mining techniques. Developing Phase 1\nusing crush-heap leach processing lowers capital costs and produces our\nquickest path to cash flow. Legal documents are substantially complete, the\nindependent engineering report is in draft form and this technical report is\nthe last major piece of information needed from Anatolia for closure of the\npreviously announced senior debt facility."\n\n\nThree qualified persons were responsible for the technical report: John\nMarek of Independent Mining Consultants, William Pennstrom of Pennstrom\nConsulting and Robert Benbow of Anatolia. The responsib...