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SSR Mining Announces Positive Exploration Results for the Çakmaktepe Extension Project ("Ardich"), Including 40.7 Meters at 7.48 g/t Au
Results Reaffirm Mineral Resource Growth PotentialMaiden Mineral Reserve Expected 2022, First Production Expected in 2023 DENVER, Aug. 18, 2021 /PRNewswire/ -
About this update from Ssr Mining Inc.
[{"type":"text","content":"Results Reaffirm Mineral Resource Growth PotentialMaiden Mineral Reserve Expected 2022, First Production Expected in 2023\n DENVER, Aug. 18, 2021 /PRNewswire/ - SSR Mining Inc. (NASDAQ: SSRM) (TSX: SSRM) (ASX: SSR) (\"SSR Mining\") is pleased to announce positive results from 194 diamond drill holes for Ardich for the period from March 2020 to May 2021. These results build upon the preliminary economic analysis (\"PEA\") reported in the Çöpler District Master Plan (\"CDMP20\") Technical Report issued in November 2020, in which the Ardich deposit contributed 1.23 million ounces of gold from Measured and Indicated resources, and 0.35 million ounces of gold from Inferred Mineral Resources, providing an after tax NPV5% of US$431M1.\nArdich represents a key organic growth initiative for SSR Mining, with the PEA highlighting the potential for approximately 1.1 million ounces of gold production over an 11-year mine life for approximately $50 million in development capital expenditures1. Ardich was discovered in 2017 and is located 1.5km north of the Çakmaktepe mine and 6km from the Çöpler operations, allowing future development to leverage existing oxide and sulfide processing infrastructure (Figure 1). Drilling and technical study activities are ongoing to further refine the value of this near mine opportunity and target a maiden Mineral Reserve declaration in 2022. Permitting is concurrently being advanced with a target for first gold production in 2023.\nAll 194 diamond holes (AR234-AR427) reported in this release were drilled in 2020 and 2021 subsequent to the cut-off date used in the compilation of the Mineral Resources in the PEA. None of the assays reported in today's release were included in the CDMP20. These new results include both step-out holes (drilled outside of and below the current Mineral Resource) (Table 1) and in-fill (within the area of the current Mineral Resource) (Table 2). The step-out holes are located to the west, south and south-west of the current Ardich Mineral Resource area. Step-out holes confirmed the extension of mineralization (Figure 2) (Table 1), many with impressive grades, including the following holes:\nAR274: 7.48 g/t Au over 40.7 meters from 155 meters, including 29.99 g/t Au over 5 meters from 187 meters. AR280: 4.18 g/t Au over 24.5 meters from 246 meters, including 35.1 g/t Au over 1 meter fr...