Alacer's Exploration Update Highlighted by Thick Intersection at Çöpler Main Zone of 323m at 1.5g/t Gold

TORONTO, May 7, 2012 /CNW/ - Alacer Gold Corp. ("Alacer") [TSX:ASR, ASX:AQG] announces results from the recent exploration programs in Turkey and Australia.

Highlights - Çöpler Gold Mine

  • Significant extensions to Çöpler's Main Zone continue to be discovered:
    • Drillhole CDD296A returned 323m at 1.5g/t gold from surface, which is the thickest mineralized zone intersected at the Main Zone to date. The intersection adds over 100m to the depth extent of the Main Zone mineralization in this area.
    • Near-surface northern extensions to the Main Zone on the western margin of the Çöpler Village include 65.8m at 1.9g/t gold and 112.2m at 1.3g/t gold.
    • Depth extensions to the Southern Main Zone include 15.0m at 4.6g/t gold from 180.8m and 13.7m at 3.4g/t gold from 253.7m.
    • Continuity of mineralization confirmed from east of the old Çöpler Village to the Manganese Zone.  Results include 37.7m at 3.0g/t gold from 93.7m in CDD340.
  • Infill drilling on Main Zone continues to confirm the thickness of gold mineralization, with several holes intercepting higher grades than currently modeled. Results include 88.2m at 4.7g/t gold from 100.4m in CDD342 and 33.8m at 8.5g/t gold from 4.0m in CDD338.
  • Infill drilling of Çöpler's Western Zone indicates additional near-surface, higher grade mineralization than currently modeled. Results include the best individual assay result returned at the Western Zone of 17m at 12.4g/t gold from surface in CRC858.

Highlights - Çöpler Regional Exploration

  • Drilling has recommenced on the Karakartal porphyry gold-copper deposit, located 12km southeast of Çöpler.  Results are confirming the geometry and grade of the current Mineral Resource and include 228m at 0.60g/t gold, 0.27% copper from 27m in KDD042, and 182m at 0.62g/t gold, 0.30% copper from surface in KDD034.
  • The first drillhole into a geochemical anomaly 800m west of the Karakartal deposit returned 10.9m at 2.0% copper, 15g/t silver, 1.7% zinc from 74m and 14.1m at 1.8% copper, 5g/t silver, 0.75% zinc from 95.4m in KDD044. Further high-quality anomalies in the prospective Çöpler District are planned to be drilled during 2012.

Highlights - Higginsville Exploration

  • Drilling at the Corona Prospect has identified an area of strong gold mineralization centered on the high-grade intersections in VIND047, VIND049 and VIND076. Previously unpublished assays include 2.35m at 60.9g/t gold from 197.2m in VIND076.
  • At the Chalice underground mine, drilling of a previously sparsely drilled area between the Atlas and Olympus Lodes has intersected thick high-grade mineralization outside of the current resource boundary, including 29.3m at 4.7g/t gold.

Highlights - South Kalgoorlie Exploration

  • Drilling at Surprise, part of the SBS28 Complex, has confirmed continuity of high-grade mineralization up to 150m below the existing pit. New drilling results include 3.0m at 14.7g/t gold, 2.3m at 7.9g/t gold, 1.0m at 55.6g/t gold and 3.0m at 13.1g/t gold.

Edward Dowling, President and CEO of Alacer, stated "Drilling at Çöpler continues to demonstrate that we have yet to define the extent of this large gold deposit. We have recently commenced initial drilling of the area surrounding the old Çöpler village. This area has excellent potential as it has been a gap in drilling along the central northern portion of the Çöpler orebody.

In the Çöpler District, drilling of the Karakartal porphyry gold-copper deposit has confirmed the current Mineral Resource and also discovered copper-silver-zinc mineralization nearby.

In Australia, drilling at Corona, Chalice and SBS28 Complex have defined areas of higher-grade mineralization."

Çöpler Exploration

An updated Çöpler resource estimate was released on February 27, 2012 and an associated Technical Report was released April 12, 2012.  The total Measured and Indicated Resources1 has increased to 148.9 million tonnes at a grade of 1.53g/t gold, containing a total of 7.3 million ounces (inclusive of reserves).   This Mineral Resource included data from drilling completed to September 3, 2011.

Approximately 25km of further drilling was completed from September to December 2011 and the results from this further drilling were published on January 24, 2012.  An additional 11,500m of drilling was completed during Q1 2012 is summarized in Figure 1 and is the subject of this release.

During Q1 2012, exploration activity at Çöpler focused on extending the down-dip extensions to the Main Zone and Manganese Zone and infilling the West Zone.  Eight surface drilling rigs are currently on site at Çöpler and are beginning to test the area in and around the old Çöpler village.

A further Çöpler Mineral Resource update is planned to be published in Q3 2012.

---------------------------------------------

1 Measured Resources = 100.3 million tonnes at 1.68g/t gold, containing 5.42 million ounces and Indicated Resources = 48.6 million tonnes at 1.21g/t gold, containing 1.89 million ounces, as at December 31, 2011.

Main Zone Drilling

Drilling at the Main Zone has concentrated on testing depth extensions below the currently defined pit boundary and infill drilling to a minimum spacing of 50m by 50m.

CDD296A on section line 59,000E returned 323.0m at 1.5g/t gold from surface. This intersection is the thickest mineralized zone intersected at the Main Zone to date and adds over 100m to the depth extent on Main Zone on this section.

Additional extensions were returned from CDD290A (36.0m at 1.1g/t gold from 99m to end of hole) and CDD290B (39.3m at 2.5g/t gold from 237m) located 50m north of CDD296A, and CDD287A (32.9m at 1.8g/t gold from 82m), located a further 50m north. Further drilling is planned to test the depth extent of this mineralization at Main Zone.

Testing the Southern Main Zone continues to identify depth extensions to the Çöpler Deposit and results include:

         
Hole
Number
From Downhole
Interval
Gold
Grade
 
CDD322 180.8m 15.0m       4.6 g/t Southern Main Zone depth extensions
" 244.2m 7.4m 2.1g/t "
" 271.5m 11.1m 2.4g/t "
CDD307A 253.7m 13.7m 3.4g/t "
Note: All downhole intervals are estimated to be 80-100% of true width.
 

The infill drill program is continuing on the Main Zone in order to provide additional data for the Çöpler Sulfide Feasibility Study. Drilling is targeted to bring the drill spacing down to less than 50m by 50m and provide an improved geological and grade estimation model for detailed mine planning and optimization. The majority of the infill drill results are confirming thicknesses of mineralization, but several holes are indicating significantly improved grades with the potential to add ounces to the current Mineral Resource.  Results include:

         
Hole
Number
From Downhole
Interval
Gold
Grade
Location
CDD334 59.0m 9.5m 2.4g/t Near surface of the southern Main Zone
" 85.4m 11.1m 2.1g/t "
CDD335 25.3m 20.4m 4.5g/t "
CDD338 4.0m 33.8m 8.5g/t Northwest margin of the Main Zone
CDD339 13.7m 12.6m 3.6g/t Near surface of the Southern Main Zone
CDD342 2.7m 29.0m 5.8g/t Core of Main Zone
" 100.4m 88.2m 4.7g/t "
Note: All downhole intervals are estimated to be 80-100% of true width.
 

Old Çöpler Village Drilling

The relocation of all residents from the old Çöpler Village was completed in early 2012 and enabled drilling of this prospective area adjacent to the northern Main Zone to commence.

Initial drilling has commenced on the western margin of the village and has extended the Main Zone to the north.  All intersections are near the margin of the Çöpler Resource and remain open to the north. Results include:

         
Hole
Number
From Downhole
Interval
Gold
Grade
Location
CDD346 20.2m 65.8m 1.9g/t Northern margin of Çöpler Resource
CDD347 11.8m 112.2m 1.3g/t "
CRC868  131.0m 25.0m 1.2g/t "
CRC869 73.0m 25.0m 1.2g/t "
Note: All downhole intervals are estimated to be 80-100% of true width.
 

A further 350m wide drilling 'gap' in and around the old Çöpler Village exists to the east of this drilling.   Drilling of this 'gap' will be completed in Q2 and Q3 2012.

Manganese Zone Drilling

Drilling is continuing to confirm the potential that exists at depth between the Manganese Zone and the untested Çöpler Village area to the west. A continuous zone of mineralization has been identified on the northeast dipping contact between the marble and underlying meta-sediments.  Further drilling is planned to determine the extent of this mineralization and results from drilling during Q1 2012 include:

         
Hole
Number
From Downhole
Interval
Gold
Grade
Location
CDD328 236.6m 38.6m 1.4g/t Between Manganese Zone and Çöpler Village
" 310.2m 23.3m 1.6g/t "
CDD329 261.5m 31.0m 2.1g/t "
CDD330 221.2m 12.3m 2.1g/t "
CDD331 168.9m 22.5m 2.0g/t "
CDD336 173.9m 46.7m 1.7g/t "
CDD340 93.7m 37.7m 3.0g/t "
         
Note: All downhole intervals are estimated to be 80-100% of true width.
 

CDD345 tested an IP anomaly south of the Manganese Pit and intersected a gossan containing 2.2m at 6.3g/t gold from 181.1m at the contact between marble and metasediment rock units. The presence of high-grade mineralization in a previously undrilled area is encouraging, with further drilling planned along strike to the east.

Three further deep diamond drillholes were completed to follow-up the previous intersection at depth in the Manganese Zone in CDD274 of 100.1m at 4.1g/t gold from 427.5m (see August 22, 2011 announcement). Results include:

         
Hole
Number
From Downhole
Interval
Gold
Grade
Location
CDD-274A 505.5m 12.1m 0.9g/t ≈100m below CDD274 intercept
" 602.9m 8.9m 1.7g/t ≈200m below CDD274
CDD298B 468.5m 10.0m 2.3g/t ≈150m west of CDD274, ended in mineralization
CDD324 553.2m 3.5m 1.3g/t ≈100m west of CDD274
Note: All downhole intervals are estimated to be 80-100% of true width.
 

This drilling has confirmed that mineralization continues down to 600m depth from surface and is still open at depth. Further deep drilling in this area will be undertaken following an evaluation of the above results.

Marble Zone Drilling

A program of angled RC drilling across the Marble Zone continued during Q1 2012.  The program has been designed ahead of mining to assist in better defining the resource boundaries and grade where previous drilling is dominantly vertical.  Results confirm that the Marble Contact Zone is much narrower, but significantly higher grade than the existing model.

Previously released results received early in the quarter include 87m at 11.8g/t gold from surface in CRC847, and 22m at 6.6g/t gold from 37m in CRC849.  True widths of these intersections are estimated at 70-80% of downhole width.

Western Zone Drilling

A program of RC drilling across the Western Zone was completed which was aimed at better defining the resource boundaries and grade prior to mining.

Near-surface, high-grade oxide mineralization was returned from several holes, significantly higher grade than the recently completed model.  CRC858 returned 17m at 12.4g/t gold from surface, the best intercept from the Western Zone to date. Results include:

         
Hole
Number
From Downhole
Interval
Gold
Grade
Location
CRC855 Surface 11m 2.2g/t Near surface at Western Zone
CRC856 Surface 16m 3.5g/t "
CRC857 Surface 8m 5.4g/t "
CRC858 Surface 17m 12.4g/t "
CRC859 Surface 26m 3.5g/t "
Note: All downhole intervals are estimated to be 80-100% of true width.
 

Planned 2012 Çöpler Exploration

The Çöpler 2012 exploration budget is $10 million (2011: $8 million). The key objective of the Çöpler 2012 exploration program is to broadly determine the ultimate size potential of the Çöpler orebody and to better understand the controls on mineralization.

Diamond and RC drilling during 2012 will continue to complete infill drilling and test for depth and lateral extensions to known gold mineralization.

Çöpler Regional Exploration

Exploration of the Çöpler District is at an early stage due to the exploration effort being focused on the Çöpler deposit.  Drilling has recommenced at Karakartal for the first time since 2009.

Karakartal Drilling

Karakartal is a gold-rich porphyry copper deposit located approximately 12km southeast of Çöpler and held in a 50%/50% joint venture with Lidya Mining.  The current Indicated Resources are 13.8 million tonnes at 0.46g/t gold and 0.29% copper and Inferred Resources are 17.8 million tonnes at 0.32g/t gold and 0.22% copper (see August 25, 2009 announcement).

A diamond drilling program commenced during Q4 2011 at Karakartal which aims to:

  • determine the scale and grade of a potentially higher grade core to the Karakartal porphyry,
  • increase the size of the current resource; and
  • identify shallow, high-grade oxide mineralization.

Three diamond drill rigs are again active at Karakartal after abnormally high snow falls and adverse winter conditions temporarily suspended drilling.  A total of 5,090m of drilling was completed during Q4 2011 and Q1 2012.

Drill results to date are confirming the continuity of the moderate gold-copper grades at Karakartal and the deposit has now been drilled over an 800m strike length and 100-250m width. Results include:

  • 228m at 0.60g/t gold and 0.27% copper from 27m in KDD042, and
  • 182m at 0.62g/t gold and 0.30% copper from surface in KDD034.

A single drillhole KDD044 located 800m west of the current Karakartal Resource tested a >400m long coincident copper-gold soil anomaly.  Drilling intersected visible copper skarn mineralization returning 10.9m at 2.0% copper, 15g/t silver, 1.7% zinc from 74.0m and 14.1m at 1.8% copper, 5g/t silver, 0.75% zinc from 95.4m. Further drilling is required to understand the extent and significance of the intersection.

Drilling is planned to continue at Karakartal over the summer of 2012.

Other Çöpler District Exploration

Following the melting of the winter snow, geological mapping will recommence across the Çöpler District in Q2 2012. Mapping will initially focus on the Yakuplu and North Karakartal areas where surface geochemical soil samples of up to 0.59g/t gold were returned during 2011. Subject to outcomes of mapping, further geochemical and geophysical surveys will be completed prior to drill testing of anomalies.

Higginsville Exploration

Exploration activity at Higginsville focused on Corona, the Higginsville Line of Lode Framework program, Challenge, Chalice and Sinclair Soak, and regional anomaly definition across Alacer's large Higginsville Tenure.

Corona

The high-grade Corona discovery announced on January 24, 2012 is located approximately 2.5km south of the Higginsville Processing Plant.  A total of 28 holes have been completed at Corona since the discovery hole (VIND047 which intersected 2.35m at 658g/t gold from 181.1m).

Gold mineralization at Corona is associated with a laminated quartz vein hosted within competent basalt, which underlies the moderately east-dipping Poseidon Thrust.  The laminated quartz vein is a 0.5 to 2.0m wide, steeply east-dipping, north-south striking vein that is continuous between 50 to 100m in strike and in excess of 300m in dip. The vein is part of a more extensive 2 to 10m wide shear zone defined by a strong shear fabric with associated tensional quartz vein arrays.

The Corona laminated quartz vein is a moderately laminated, shear controlled quartz vein with coarse visible gold occurring along the laminations. Accessory minerals include arsenopyrite and galena, although these are not closely associated with elevated gold grades as evident in similar laminated quartz lodes in the region (Two Boys, Athena, Vine and Artemis).  The accessory minerals appear to be indicative of lower grade gold mineralization, with the very high grade intercepts identified only by a significant amount of coarse free gold.   Significant coarse free gold is also associated with narrow (1-10cm) quartz tensional veins within the bounding shear zone to the laminated quartz vein.

A high-grade area is centered on the extremely high-grade intersections in VIND047, VIND049 and VIND076. The high variability in grade and the abundance of very coarse gold will need to be taken into account when estimating the resource for this laminated quartz vein. Assays received from Corona drilling to date are shown in the diagram below.

The Corona project will continue with ongoing geological and economic evaluations to assess development potential.

Chalice

Drilling has commenced from underground drill platforms in the Chalice Mine and is targeting the previously sparsely drilled area between Atlas and the deeper Olympus Lode.

This drilling followed up historical surface drillholes CHAD048 (11m at 6.2g/t gold) and WMD192 (27m at 3.0g/t gold) and has confirmed continuity of thick, high-grade mineralization outside the current Chalice Mineral Resource over a 100m strike extent and up to 80m dip extent.  Results from Q1 2012 drilling include:

  • 29.3m at 4.7g/t gold in CHUG087
  • 14.0m at 6.9g/t gold in CHUG088A
  • 6.6m at 8.3g/t gold in CHUG095
  • 9.0m at 2.7g/t gold in CHUG099
  • 6.0m at 4.1g/t gold in CHUG152

This mineralization lies immediately in the hangingwall of the planned decline access to the Olympus Lode and may provide additional ore during 2013 from Chalice.

Other Higginsville Exploration

The Higginsville Framework drilling continued sporadically while the diamond drill rigs were redirected to Corona.  Drilling has recommenced focusing on the southern sections of the Higginsville Line of Lode.

Four diamond drill holes were completed on the salt lake at Sinclair Soak following up on a +600m aircore anomaly identified in 2011. Visible quartz-arsenopyrite mineralization was intersected in two holes.  Assay results are expected in early May.

Aircore and RAB drilling has been completed in the Challenge and Lake Cowan areas.  Several small scale regolith anomalies have been defined requiring follow up RC drilling.

South Kalgoorlie Exploration

South Kalgoorlie exploration during Q1 2012 was focused on testing for open-pit extensions at the Shirl-Barbara-Surprise-Pit28 ("SBS28") Complex. Drilling also continued at Mt Martin and the Peaceful Gift/Chief's Lode and Pernatty/TNT areas to the north of the HBJ Pit.

SBS28 Complex

Located near Coolgardie and 35km west of the Jubilee processing plant, the SBS28 Complex is a 3km-long mineralized zone that has been sporadically mined under fragmented ownership over the past 70 years.  The various styles of gold mineralization at the SBS28 Complex are indicative of a large system of mineralization.  The controls on mineralization are becoming better understood as drilling is progressively following up widespread, high-grade gold mineralization defined by previous drilling and mining.

Surprise is an old open pit and underground complex located near the northeast corner of the SBS28 complex. Historical production is estimated at 330,000 tonnes at 7.2g/t gold for 77,000 ounces. Wide-spaced drilling on an approximate 100m by 100m grid pattern has confirmed continuity of high-grade mineralization up to 150m below the existing pit.  Results include:

         
Hole
Number
From Downhole
Interval
Gold
Grade
Location
SD001 59.0m 6.0m 6.8g/t Below Surprise Pit at SBS28 Complex
SD002 91.0m 5.0m 1.5g/t "
SD003 61.0m 2.0m 11.7g/t "
  98.0m 3.0m 16.3g/t "
  135.0m 2.0m 12.4g/t "
SD005 80.0m 5.0m 10.8g/t "
SD006 104.0m 3.0m 14.7g/t "
  114.8m 2.3m 7.9g/t "
  227.0m 1.0m 55.6g/t "
SD008 230.0m 3.0m 13.1g/t "
SD014 180.5m 1.5m 8.3g/t "
Note: All downhole intervals are estimated to be 60-80% of true width.
 

Assays correlate well with known lodes and interpreted geology and have confirmed the presence of two additional previously un-mined lodes.  A long section showing drill results are shown in Figure 9. Coarse visible gold has been identified in several of the high-grade intersections.

Excellent potential exists for further open pit and underground mining at Surprise.

Drilling at Barbara located near the northwestern corner of the SBS28 Complex returned encouraging results in a hangingwall position that has not previously been mined.  Further drilling is required to determine the significance of these intersections.

Other South Kalgoorlie Exploration

A large program of RC drilling has been completed at Mt Martin to enable better pit optimization prior to mining recommencing.

Positive results from drilling at Peaceful Gift/Chief's Lode and Pernatty/TNT areas to the north of the HBJ Pit  has warranted additional drill programs to commence before final resource estimates are updated.

Other Information

Technical Procedural Information

The information in this report which relates to Exploration Results and Mineral Resources is based on information compiled by Chris Newman, a full time employee of Alacer Gold Corp. and who is a Member of the Australasian Institute of Mining and Metallurgy and a Member of the Australian Institute of Geoscientists.  Mr Newman has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity which is being undertaking to qualify as a Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" and a qualified person pursuant to National Instrument 43-101 of the Canadian Securities Administration.  Mr Newman consents to the inclusion in the report of the matters based on this information in the form and context in which it appears.

Exploration drilling and sampling in Turkey utilized surface NQ2 diamond core and Reverse Circulation ("RC") drilling. RC cuttings were sampled on 1m intervals and core was sampled at geologically selected intervals ranging from 0.7m to 2.0m, but generally 1.0m as sawn half core or hand split if clay.  Drill samples were performed by ALS-Chemex in Vancouver, BC, Canada, for gold by Fire Assay off a 30 gram charge with an AA finish.  Quality Assurance/Quality Control included the insertion and continual monitoring of numerous standards and blanks into the sample stream, and the collection of duplicate samples at regular intervals within each batch.  Selected holes are also analysed for a 33-element four acid ICP—AES.  Exploration and drilling results are reported as drilled thicknesses. Drill composites were calculated using a cut-off of approximately 0.3g/t gold for oxide and 0.6g/t gold for sulfide.  No top cut was applied.

Exploration drilling and sampling in Australia utilized surface HQ and NQ2 diamond core, RC and aircore. Drill core was sawn half core and submitted for assaying. Dependent on the ore body geometry, core sample lengths were constrained by geology, alteration or structural boundaries and sample lengths varied between a minimum of 0.5m to a maximum of 1.3m. Reported results from RC samples were collected on 1m riffle split intervals and from 4m composite samples using aircore. At Higginsville, RC and diamond drill samples were assayed with fire assay with an AAS finish on 50g charges via Genalysis Laboratories in Kalgoorlie and Perth or by pulverise and leach (PAL1000B) with an AAS finish on 500 ‐ 750g charges at the Higginsville Intertek laboratory. Aircore samples were analysed via low-level aqua regia digestion at Ultratrace and SGS Laboratories in Perth. Internationally accepted standards and blanks were utilised to check on laboratory assay quality control. At South Kalgoorlie, samples were assayed with fire assay with an AAS finish on 50g charges via SGS Laboratories in Kalgoorlie. Blanks and assay pills were utilised to check on laboratory assay quality control. Exploration and drilling results are reported as drilled thicknesses. Drill composites were calculated using a cut‐off of approximately 0.8g/t gold. No top cut was applied.

Detailed Drillhole Data

Çöpler  - Summary of Drillhole Locations
Hole
Number
Easting Northing Elevation
(m)
Azimuth Dip Depth
(m)
CDD-274A 460101 4364006 1247 360 -70 701
CDD-290A 458994 4363965 1214 360 -60 135
CDD-287A 458993 4364029 1193 360 -60 439
CDD-296A 458994 4363895 1232 360 -60 350
CDD-298B 459952 4363985 1238 360 -50 479
CDD-307A 459189 4363259 1348 360 -60 320
CDD-321 460050 4364000 1232 360 -60 682
CDD-322 459086 4363270 1340 360 -60 305
CDD-324 460000 4363985 1238 360 -60 587
CDD-325 458650 4363900 1210 360 -60 304
CDD-326 459150 4363800 1246 360 -60 249
CDD-327 459475 4364299 1193 - -90 194
CDD-327A 459475 4364299 1193 - -90 165
CDD-328 459524 4364350 1188 - -90 370
CDD-329 459575 4364299 1202 - -90 359
CDD-330 459545 4364200 1218 - -90 354
CDD-331 459548 4364157 1223 - -90 395
CDD-332 459336 4363579 1271 360 -60 359
CDD-333 459050 4363526 1287 360 -60 276
CDD-334 458948 4363490 1309 360 -60 451
CDD-335 459241 4363611 1274 360 -60 472
CDD-336 459650 4364160 1225 - -90 403
CDD-337 459336 4363708 1242 360 -60 351
CDD-338 458647 4363964 1200 360 -60 431
CDD-339 459231 4363529 1292 360 -60 311
CDD-340 459548 4364049 1209 - -90 382
CDD-341 458879 4363563 1297 360 -60 442
CDD-342 458994 4363839 1247 360 -60 405
CDD-343 459105 4363569 1276 360 -60 188
CDD-343A 459103 4363569 1276 360 -60 300
CDD-344 458550 4364016 1216 180 -60 380
CDD-345 459701 4363976 1246 360 -60 505
CDD-346 459195 4364049 1219 360 -60 255
CDD-347 459247 4364045 1215 360 -60 251
CDD-349 459920 4363915 1250 - -90 375
             
CRC-847 459744 4363868 1273 330 -60 120
CRC-848 459744 4363868 1273 360 -60 150
CRC-835A 459620 4363795 1238 360 -60 174
CRC-838A 459630 4363626 1266 270 -70 78
CRC-849 459843 4363935 1235 270 -60 146
CRC-850 459836 4363865 1261 270 -60 88
CRC-851 458545 4363490 1275 360 -60 120
CRC-852 458386 4363333 1288 360 -60 126
CRC-853 458369 4363274 1308 360 -60 143
CRC-854 457830 4363340 1336 90 -60 85
CRC-855 457839 4363360 1411 90 -60 70
CRC-856 457862 4363404 1404 180 -60 98
CRC-857 457936 4363455 1401 90 -60 71
CRC-858 457974 4363489 1391 90 -60 88
CRC-859 457993 4363510 1380 180 -60 60
CRC-860 458047 4363545 1358 90 -60 98
CRC-861 458062 4363575 1346 90 -60 80
CRC-862 458046 4363598 1358 90 -60 57
CRC-863 458025 4363654 1346 90 -60 102
CRC-864 458035 4363720 1330 90 -60 114
CRC-865 458030 4363755 1329 90 -60 102
CRC-866 459813 4363910 1250 360 -60 104
CRC-867 459450 4364055 1178 - -90 177
CRC-868 459043 4364242 1160 180 -60 173
CRC-869 459100 4364375 1163 180 -60 148
CRC-870 457940 4364103 1332 180 -60 138
CRC-871 457875 4364096 1351 180 -60 99
             
MET-159A 460044 4364364 1120 292 -67 90
MET-594A 459980 4364380 1125 - -90 90

Çöpler - Summary of Drilling Results
Hole
Number


Zone/Section Line
From
(m)
To
(m)
Interval
(m)
Gold
(g/t)
Remarks
CDD-274A Managanese Zone
L 60100 E
372.0 373.2 1.2 1.00 OX
  398.8 400.6 1.8 1.11 OX
  505.5 517.6 12.1 0.87 OX+SULP
  560.6 562.6 2.0 1.14 OX
  602.9 611.8 8.9 1.66 OX+SULP
  684.8 685.8 1.0 1.16 OX
             
CDD-287A North of Main Zone
L 59000 E
0.0 12.5 12.5 1.50 OX+SULP
Including 0.0 6.1 6.1 0.66 OX
Including 6.1 12.3 6.2 2.30 SULP
  22.8 27.5 4.7 1.17 SULP
  56.7 67.7 11.0 2.49 SULP
  72.7 78.3 5.6 0.79 OX+SULP
  82.0 114.9 32.9 1.75 OX+SULP
  128.0 133.0 5.0 1.12 SULP
  218.5 225.5 7.0 1.10 SULP
  294.2 298.2 4.0 3.45 SULP
             
CDD-290A Main Zone
L 59000 E
0.0 14.8 14.8 0.68 OX
  20.5 27.5 7.0 1.03 SULP
  99.0 135.0 36.0 1.05 SULP
CDD-290B Main Zone
L 59000 E
0.0 14.3 14.3 2.8 OX
  24.9 28.2 3.3 1.5 SULP
  57.2 59.2 2.0 1.0 SULP
  62.0 64.0 2.0 0.8 SULP
  108.6 111.9 3.3 1.1 SULP
  114.9 115.9 1.0 1.5 SULP
  124.2 140.6 16.4 1.1 SULP
  144.6 146.6 2.0 1.3 SULP
  148.6 149.6 1.0 2.9 SULP
  153.7 154.7 1.0 1.9 SULP
  160.5 193.2 32.7 1.3 SULP
  219.5 226.5 7.0 2.4 SULP
  237.1 276.4 39.3 2.5 SULP
including 248.1 258.8 10.7 3.5 SULP
CDD-296A Main Zone
L 59000 E
0.0 323.0 323.0 1.53 OX+SULP
including 0.0 6.0 6.0 3.93 OX
including 26.6 69.2 42.6 2.35 SULP
including 109.7 248.2 138.5 1.79 SULP
including 307.3 323.0 15.7 1.85 SULP
             
CDD-298B Manganese Zone
L 59950 E
452.6 458.7 6.1 0.42 OX
  468.5 478.5 10.0 2.29 SULP
             
CDD-307A Main Zone
L 59200 E
253.7 267.4 13.7 3.35 SULP
  276.1 277.1 1.0 3.19 SULP
             
CDD-321 South of Manganese Zone
L 60050 E
90.1 94.1 4.0 0.88 OX
  446.2 460.1 13.9 2.30 SULP
  463.1 464.5 1.4 1.28 OX
  472.1 473.2 1.1 2.26 SULP
  476.1 480.6 4.5 3.50 OX
  529.1 530.1 1.0 1.62 OX
  589.9 590.9 1.0 1.35 SULP
  643.9 646.9 3.0 1.88 SULP
  665.7 668.9 3.2 1.17 SULP
             
CDD-322 South of Main Zone
L 59100 E
180.8 195.8 15.0 4.57 SULP
including 184.8 191.8 7.0 7.17 SULP
  230.6 235.0 4.4 1.13 SULP
  244.2 251.6 7.4 2.09 SULP
  258.5 260.4 1.9 0.91 SULP
  265.7 268.7 3.0 1.22 SULP
  271.5 282.6 11.1 2.42 SULP
             
CDD-324 South of Manganese Zone
L 60000 E
433.8 435.9 2.1 0.97 SULP
  457.5 459.5 2.0 1.06 OX
  553.2 556.7 3.5 1.34 SULP
             
CDD-325 Main Zone
L 58650 E
0.0 18.8 18.8 1.56 SULP
  46.3 62.4 16.1 2.59 SULP
  74.0 78.7 4.7 1.10 SULP
  82.7 90.0 7.3 3.22 SULP
  198.5 271.0 72.5 1.84 SULP
including 237.7 255.3 17.6 3.27 SULP
             
CDD-326 Main Zone
L 59150 E
13.1 16.0 2.9 2.79 SULP
  46.3 79.9 33.6 3.59 SULP
  133.2 140.3 7.1 1.44 SULP
  156.3 157.3 1.0 1.08 SULP
  182.9 183.9 1.0 1.05 SULP
             
CDD-327 Between village and Manganese Zone
L 59450 E
161.5 163.4 1.9 1.18 OX
  164.4 166.4 2.0 1.28 SULP
             
CDD-327A Between village and Manganese Zone
L 59450 E
156.2 157.7 1.5 0.89 OX
             
CDD-328 Between village and Manganese Zone
L 59500 E
236.6 275.2 38.6 1.39 SULP
  310.2 333.5 23.3 1.56 SULP
  339.9 345.5 5.6 1.05 SULP
  354.5 360.5 6.0 1.60 SULP
             
CDD-329 Between village and Manganese Zone
L 59550 E
261.5 292.5 31.0 2.09 SULP
  323.2 330.0 6.8 0.77 SULP
  338.8 347.6 8.8 1.10 SULP
             
CDD-330 Between village and Manganese Zone
L 59550 E
221.2 233.5 12.3 2.05 OX+SULP
  309.2 312.2 3.0 1.23 SULP
             
CDD-331 Between village and Manganese Zone
L 59550 E
127.0 130.7 3.7 2.89 SULP
  168.9 191.4 22.5 2.00 SULP
including 168.9 176.7 7.8 2.94 SULP
  356.7 358.7 2.0 1.56 SULP
  380.1 384.1 4.0 1.56 SULP
             
CDD-332 Main Zone
L 59350 E
0.0 9.5 9.5 1.06 OX
  15.5 40.4 24.9 2.29 SULP
including 19.5 29.1 9.6 4.22 SULP
  184.8 185.8 1.0 1.33 SULP
  186.8 194.8 8.0 0.99 SULP
  275.0 278.0 3.0 1.21 SULP
  291.8 296.8 5.0 1.27 SULP
  302.6 314.0 11.4 0.94 SULP
             
CDD-333 Main Zone
L 59050 E
4.2 7.5 3.3 1.24 OX
  51.0 52.1 1.1 1.16 SULP
  57.0 58.0 1.0 1.07 SULP
             
CDD-334 Main Zone
L 58950 E
38.8 41.0 2.2 2.54 SULP
  46.2 47.2 1.0 1.08 SULP
  54.8 56.3 1.5 1.36 SULP
  59.0 68.5 9.5 2.36 SULP
  85.4 96.5 11.1 2.09 SULP
  100.6 102.1 1.5 3.17 SULP
  105.8 108.7 2.9 3.43 SULP
  119.0 121.5 2.5 2.12 SULP
  124.1 125.4 1.3 4.02 SULP
  228.7 229.7 1.0 1.07 SULP
             
CDD-335 Main Zone
L 59250 E
11.9 14.9 3.0 4.38 OX
  25.3 45.7 20.4 4.52 SULP
  185.2 187.3 2.1 1.28 SULP
  195.7 196.8 1.1 2.43 SULP
  204.1 205.3 1.2 1.56 SULP
  287.0 288.0 1.0 1.46 SULP
  306.4 307.4 1.0 2.37 SULP
  312.5 332.8 20.3 1.37 SULP
  355.3 358.3 3.0 2.56 SULP
  360.3 362.4 2.1 1.01 SULP
  371.6 373.6 2.0 1.73 SULP
  378.6 380.6 2.0 2.64 SULP
  390.6 392.7 2.1 1.75 SULP
  401.7 402.7 1.0 4.88 SULP
  406.7 407.7 1.0 4.10 SULP
  441.4 443.6 2.2 1.27 SULP
             
CDD-336 Marble Zone
L 59650 E
150.7 153.5 2.8 1.40 OX
  173.9 220.6 46.7 1.70 SULP
  224.6 225.6 1.0 1.52 SULP
             
CDD-337 Main Zone
L 59350 E
27.1 32.0 4.9 2.08 SULP
  62.6 63.6 1.0 17.70 SULP
  131.0 131.9 0.9 3.61 SULP
  147.0 163.0 16.0 0.96 SULP
             
CDD-338 Main Zone
L 58650 E
4.0 37.8 33.8 8.54 OX+SULP
including 7.6 12.0 4.4 37.16 OX
  42.3 44.6 2.3 2.18 SULP
  49.4 57.4 8.0 1.47 SULP
  81.5 82.5 1.0 1.57 SULP
  97.7 98.7 1.0 1.26 SULP
  141.7 155.8 14.1 1.05 SULP
  328.0 341.0 13.0 3.34 SULP
  428.2 431.0 2.8 1.30 SULP
             
CDD-339 Main Zone
L 59250 E
0.0 8.0 8.0 0.33 OX
  13.7 26.3 12.6 3.56 SULP
  57.0 58.0 1.0 1.27 SULP
  94.9 96.6 1.7 1.08 SULP
  291.0 292.0 1.0 2.53 SULP
             
CDD-340 Between Main and Manganese Zones - L 59550 E 93.7 112.4 18.7 2.92 OX+SULP
  112.4 131.4 19.0 3.00 OX
including 119.4 127.4 8.0 5.32 SULP
             
CDD-341 Main Zone
L 58900 E
5.5 13.7 8.2 3.40 OX
  27.3 28.5 1.2 1.67 SULP
  81.5 82.5 1.0 1.76 SULP
  86.2 98.1 11.9 2.41 SULP
  104.0 109.9 5.9 1.49 SULP
  115.2 117.4 2.2 2.70 SULP
  125.7 146.9 21.2 2.52 SULP
  182.8 188.8 6.0 1.37 SULP
  196.1 214.7 18.6 2.00 SULP
  227.2 230.0 2.8 1.00 SULP
  277.3 280.6 3.3 5.73 SULP
  377.9 383.9 6.0 1.17 SULP
  391.0 404.8 13.8 1.27 SULP
  413.6 414.7 1.1 1.64 SULP
             
CDD-342 Main Zone
L 59000 E
2.7 31.7 29.0 5.80 OX
  56.6 62.7 6.1 1.18 SULP
  82.3 90.4 8.1 4.46 SULP
  100.4 188.6 88.2 4.72 SULP
  194.9 198.5 3.6 1.51 SULP
  200.5 203.5 3.0 1.46 SULP
  233.1 236.1 3.0 3.77 SULP
  249.7 250.7 1.0 2.45 SULP
  275.9 278.1 2.2 1.98 SULP
  282.6 283.6 1.0 1.00 SULP
  287.3 288.3 1.0 2.15 SULP
  298.6 305.2 6.6 1.73 SULP
  311.5 315.0 3.5 2.97 SULP
             
CDD-343 Main Zone
L 59100 E
48.2 50.2 2.0 0.94 SULP
  161.6 162.6 1.0 1.03 SULP
             
CDD-343A Main Zone
L 59100 E
222.5 225.5 3.0 1.01 SULP
  232.4 234.4 2.0 1.62 SULP
             
CDD-344 Main Zone
L 58550 E
205.9 207.8 1.9 0.83 SULP
  254.0 271.7 17.7 1.29 SULP
  283.0 285.0 2.0 1.24 SULP
  315.0 317.3 3.3 2.08 SULP
             
CDD-345 Marble Contact
L 59700 E
293.9 294.9 1.0 2.17 OX
  306.5 337.4 30.9 1.13 OX+SULP
  440.2 443.5 3.3 3.00 SULP
             
CDD-346 Main Zone
L 59200 E
10.3 20.2 9.9 0.78 OX
  20.2 86.0 65.8 1.92 SULP
  26.8 43.8 17.0 3.33 SULP
  92.9 99.3 6.4 1.66 SULP
  111.6 125.6 14.0 1.19 SULP
  161.1 167.1 6.0 1.40 SULP
             
CDD-347 Main Zone
L 59250 E
9.8 11.8 2.0 2.01 OX
  11.8 124.0 112.2 1.32 SULP
  158.5 166.0 7.5 1.90 SULP
including 164.0 166.0 2.0 5.18 SULP
             
CDD-349 Mn Mine Zone
L 59900 E
133.3 135.5 2.2 1.93 OX
  181.1 183.3 2.2 6.27 OX
             
CRC-835A Marble Zone
L 59600 E
9 18 9 7.04 OX
  18 20 2 1.32 SULP
  48 57 9 0.99 OX
             
CRC-838A Marble Zone
L 59650 E
0 6 6 11.38 OX
             
CRC-847 Marble Zone
L 59750 E
0 87 87 11.80 OX+SULP
including 8 18 10 19.96 OX
including 67 72 5 107.5 OX
             
CRC-848 Marble Zone
L 59750 E
0 12 12 1.05 OX
  18 26 8 0.66 OX
  68 71 3 1.14 OX
  78 79 1 1.34 OX
  103 105 2 0.92 OX
             
CRC-849 Marble Zone
L 59850 E
37 59 22 6.63 OX
including 41 54 13 10.03 OX
             
CRC-850 Marble Zone
L 59825 E
No significant results
             
CRC-851   0 7 7 34.49 OX
  Between Main and West Zone
L 58550 E
3 7 4 60.50 OX
  8 11 3 2.72 SULP
  40 42 2 2.28 SULP
             
CRC-852 SW Waste Dump Area
L 58400 E
No significant results
 
 
CRC-853 SW Waste Dump Area
L 58350 E
No significant results
 
 
CRC-854 West Zone
L 57850 E
0 17 17 0.62 OX
including 6 9 3 1.29 OX
             
CRC-855 West Zone
L 57850 E
0 11 11 1.72 OX
including 3 7 4 5.04 OX
  28 29 1 1.16 SULP
  37 39 2 1.26 SULP
  47 50 3 0.75 SULP
             
CRC-856 West Zone
L 57850
0 16 16 3.46 OX
  16 17 1 1.22 SULP
  54 55 1 2.01 SULP
             
CRC-857 West Zone
L 57950 E
11 19 8 5.35 OX
  21 23 2 1.00 SULP
             
CRC-858 West Zone
L 57950
0 17 17 12.39 OX
             
CRC-859 West Zone
L 58000
0 26 26 3.47 OX
including 6 14 8 8.66 OX
             
CRC-860 West Zone
L 58050
0 17 17 0.77 OX
  26 27 1 1.15 OX
             
CRC-861 West Zone - L 58050 0 4 4 0.59 OX
             
CRC-862 West Zone - L 58050 20 36 16 0.80 OX
             
CRC-863 Between Waste Dump Area and West Zone - L 58050 44 60 16 0.89 OX
  68 69 1 1.42 SULP
             
CRC-864 Between Waste Dump Area and West Zone -
L 58050
93 95 2 0.77 OX
  99 101 2 1.03 OX
             
CRC-865 NW Waste Dump/ L 58050 57 63 6 0.53 OX
  84 85 1 1.07 OX
  93 100 7 0.87 SULP
             
CRC-866 Marble Zone - L 59800 E 46 58 12 4.55 OX
             
CRC-867 Between Main Zone and Village
L59450 E
60 68 8 3.15 OX
  79 81 2 1.45 SULP
  160 177 17 1.02 SULP
             
CRC-868 North Of Main Zone
L 59050 E
50 59 9 1.15 SULP
  82 92 10 1.56 SULP
  131 156 25 1.16 SULP
             
CRC-869 Main Zone
L 57950 E
48 73 25 1.16 SULP
  113 120 7 1.32 SULP
  131 143 12 0.90 SULP
             
CRC-870 Main Zone - L 57950 E No significant results
             
CRC-871 Main Zone - L 57850 E No significant results
 
 
             
MET-159A Manganese Zone
L 60050 E
0 35 35 1.93 OX
including 20 34 14 3.25 OX
  52 72 20 1.08 SULP
             
MET-594A Manganese Zone - L 59975 E 5 90 85 4.39 OX+SULP
CDD: Diamond drillholes; CRC: Reverse circulation drilllholes; MET: Metallurgical drillholes
SULP: Sulphide Mineralization ; OX : Oxide Mineralization;

Karakartal - Summary of Drillhole Locations
Hole
Number
Easting Northing Elevation Azimuth Dip Depth (m)
KDD027 466665 4355950 1655 30 -90 129.5
KDD028 466683 4355914 1696 - -90 22.9
KDD028A 466684 4355915 1696 - -90 29.9
KDD030 466785 4356204 1727 - -90 459.7
KDD029 466735 4355951 1691 - -90 50.4
KDD031 466768 4355969 1703 - -90 45.0
KDD032 466842 4356190 1725 - -90 406.5
KDD033 466819 4356005 1709 - -90 60.0
KDD034 466839 4356144 1722 180 -70 352.3
KDD035 466905 4356079 1751 - -90 100.0
KDD036 466837 4356084 1700 180 -70 350.0
KDD037 466604 4356001 1693 180 -70 324.4
KDD038 466703 4356033 1695 180 -70 285.0
KDD039 466781 4356098 1705 - -90 380.0
KDD040 467052 4355906 1736 180 -70 55.4
KDD040A 467055 4355903 1731 180 -70 157.5
KDD041 467153 4355903 1754 180 -70 56.7
KDD042 466905 4356056 1735 - -90 417.0
KDD043 466841 4356236 1718 180 -70 406.5
KDD044 465800 4355928 1785 180 -70 308.5
KDD045 466891 4355998 1728 180 -70 380.0
KDD046 466950 4356035 1742 180 -70 403.5
KDD047 466839 4356039 1728 180 -70 309.7
KDD048 466850 4356140 1745 180 -70 91.5
KDD049 466989 4356075 1765 180 -70 80.7
             
KRC001 466892 4355938 1714 180 -70 120.0
KRC002 466977 4355924 1730 180 -70 102.0
KRC003 467356 4355849 1835 180 -70 85.0
KRC004 467427 4355757 1852 180 -70 126.0
KRC005 466821 4355689 1775 180 -70 106.0

Karakartal - Summary of Drilling Results
Hole Number Section
Line
From
(m)
To
(m)
Intercept
(m)
Gold
(g/t)
Silver
(g/t)
Copper
(%)
Molybdenum
(ppm)
Zinc
(%)
KDD- 027   L 7250 E
Main Zone
94.0 104.0 10.0 0.40 - 0.20 - 0.13
                   
KDD- 028   L 7450 E
Main Zone
0.0 22.9 22.9 No significant results  
                   
KDD- 028A   L 7450 E
Main Zone
0.0 29.9 29.9 No significant results  
                   
KDD- 029   L 6750 E
Main Zone
0.0 50.4 50.4 No significant results  
                   
KDD- 030   L 6800 E
Main Zone
7.0 23.3 16.3 0.26 - 0.27 17 -
Including 17.0 18.9 1.9 0.94 - 0.61 19 -
  43.1 69.5 26.4 0.26 - 0.31 21 -
  75.8 93.8 18.0 0.34 - 0.31 25 -
Including 92.5 93.8 1.3 1.13 - 0.47 52 -
  120.0 126.5 6.5 0.36 - 0.26 - -
  135.8 156.0 20.2 0.25 - 0.24 - -
  169.7 173.1 3.4 0.35 - 0.29 - -
  371.5 388.5 17.0 0.25 - 0.33 20 -
  397.5 406.5 9.0 0.20 - 0.31 91 -
                   
KDD- 031   L 6750 E
Main Zone
10.0 16.6 6.6 - 100 0.46 - -
                   
KDD- 032 L 6850 E
Main Zone
0.0 7.5 7.5 0.34 - 0.17 35 -
  13.3 16.5 3.2 0.20 - 0.34 15 0.27
  23.5 29.5 6.0 0.20 18 0.19 42 -
  39.5 84.6 45.1 0.17 - 0.24 36 0.14
  98.2 117.2 19.0 0.18 - 0.23 - -
  122.2 127.2 5.0 0.14 - 0.27 43 -
  358.5 386.5 28.0 0.14 - 0.20 42 -
                   
KDD- 033   L 6800 E
Main Zone
0.0 58.0 58.0 0.30 - 0.17 10 -
                   
KDD- 034 L 6850 E
Main Zone
0.0 182.0 182.0 0.62 - 0.30 - -
Including 3.0 135.0 132.0 0.70 - 0.35 - -
  240.0 254.0 14.0 0.32 - 0.19 - -
                   
KDD- 035   L 6900 E
Main Zone
56.0 100.0 44.0 0.50 9 0.30 - -
Including 76.0 100.0 24.0 0.71 13 0.35 - -
                   
KDD- 036 L 6850 E
Main Zone
0.0 39.4 39.4 0.24 54 0.18 - -
  60.5 145.0 84.5 0.40 - 0.14 - -
Including 107.0 136.0 29.0 0.50 - 0.18 - -
  182.0 198.0 16.0 0.32 - 0.16 - -
  213.0 314.5 101.5 0.42 - 0.34 - -
Including 250.5 308.5 58.0 0.53 - 0.44 - -
                   
                   
KDD- 037   L 6600 E
Main Zone
154.3 156.0 1.7 0.55 - 0.25 - -
                   
KDD- 038   L 6700 E
Main Zone
89.5 120.5 31.0 0.30 - 0.23 18 -
  130.5 168.0 37.5 0.50 - 0.35 13 -
Including 130.5 160.5 30.0 0.60 - 0.35 13 -
Including 162.5 168.0 5.5 0.39 - 0.48 17 -
  186.5 189.0 2.5 0.74 - 0.39 34 0.10
                   
KDD- 039   L 6800 E
Main Zone
9.0 48.5 39.5 0.48 - 0.18 - -
  87.0 140.0 53.0 0.28 - 0.17 - -
                   
KDD- 040   L 7050 E
Main Zone
0.0 13.4 13.4 0.60 - 0.30 - -
  20.4 34.4 14.0 0.60 - 0.31 11 -
                   
KDD- 040A   L 7050 E
Main Zone
0.0 6.2 6.2 0.42 - 0.20 - -
    11.3 26.0 14.7 0.54 - 0.32 - -
    85.5 108.0 22.5 0.40 - 0.24 14 -
    129.0 145.5 16.5 0.40 - 0.34 13 -
                   
KDD- 041   L 7150 E
Main Zone
0.0 56.7 56.7 0.30 - 0.29 11 -
                   
KDD- 042   L 6900 E
Main Zone
27.0 255.0 228.0 0.60 - 0.27 - -
Including 238.0 254.0 16.0 0.50 - 0.30 - -
    281.0 325.0 44.0 0.44 - 0.30 - -
Including   281.0 297.0 16.0 0.46 - 0.33 - -
Including   301.0 325.0 24.0 0.47 - 0.33 - -
                   
KDD- 043 L 6850 E
Main Zone
120.0 178.0 58.0 0.13 - 0.25 - -
  221.0 241.0 20.0 0.27 - 0.30 - -
  263.0 391.0 128.0 0.43 - 0.41 - -
Including  356.0 378.0 22.0 0.76 - 0.58 - -
                   
KDD-044   L 5800 E
West Zone
74.0 84.9 10.9 - 15 1.96 - 1.65
Including 74.0 82.2 8.2 - 20 2.54 - 1.73
  95.4 109.5 14.1 - 5 1.79 - 0.75
Including 96.5 100.8 4.3 - 13 5.40 - 1.34
Including 105.0 109.5 4.5 - 4 0.37 - 0.33
                   
KRC- 001   L 6900 E
Main Zone
9.0 90.0 81.0 0.35 - 0.20 13 -
Including 42.0 49.0 7.0 0.57 - 0.30 18 -
  106.0 117.0 11.0 0.32 - 0.24 28 -
                   
KRC- 002   L 7000 E
Main Zone
6.0 23.0 17.0 0.25 - 0.28 13 -
  63.0 102.0 39.0 0.45 - 0.22 - -
                   
KRC- 003   L 7350 E
Main Zone
5.0 25.0 20.0 0.21 - 0.09 37 -
  42.0 48.0 6.0 0.22 - 0.16 64 -
  81.0 85.0 4.0 0.50 - 0.08 24 -
KRC- 004   L 7450 E
Main Zone
0.0 126.0 126.0 No significant results  
                   
KRC- 005 L 6800 E
Main Zone
0.0 106.0 106.0 No significant results  

Corona - Summary of Drilling Results
Hole
Number
Northing Easting RL Dip Azimuth From
(m)
To (m) Length
(m)
Gold
(g/t)
Comments
VIND047 6485981 379795 295 -60 268 178.5 191.0 12.5 124.1 Total Shear Zone
incl.           178.5 181.1 2.6 0.5 HW shear
            181.1 183.5 2.3 657.9 Corona Elevated Grade
            183.5 191.0 7.6 0.6 FW Shear
VIND048 6485981 379792 296 -50 268 122.0 129.0 7.0 0.6 Total Shear Zone
VIND049 6485981 379798 295 -68 268 195.0 206.0 11.0 39.8 Total Shear Zone
incl.           195.0 201.5 6.5 0.6 HW shear
            201.5 203.4 1.9 225.2 Corona Elevated Grade
            203.4 206.0 2.6 0.1 FW Shear
VIND050 6486044 379816 296 -60 269 173.0 179.0 6.0 0.2 Total Shear Zone
VIND051 6485931 379800 295 -60 269 147.0 157.0 10.0 1.7 Total Shear Zone
VIND052 6485983 379863 295 -60 268 254.0 265.0 11.0 3.0 Total Shear Zone
incl.           254.0 258.6 4.6 0.7 HW shear
            258.6 259.3 0.6 39.2 Corona Quartz
            259.3 265.0 5.8 0.8 FW Shear
VIND053 6486044 379813 296 -50 269 179.0 196.0 17.0 0.1 Total Shear Zone
VIND054 6485931 379803 295 -68 269 197.0 200.0 3.0 0.2 Total Shear Zone
VIND055 6485984 379866 295 -67 269 312.0 328.0 16.0 1.6 Total Shear Zone
incl.           312.0 320.0 8.0 0.1 HW shear
            320.0 321.0 1.0 1.9 Corona Quartz
            321.0 328.0 7.0 3.3 FW Shear
VIND056 6486044 379819 295 -68 267 208.1 212.3 4.2 0.9 Total Shear Zone
VIND057 6485981 379788 295 -58 290 161.0 168.0 7.0 5.0 Total Shear Zone
incl.           161.0 163.0 2.0 3.9 HW shear
            163.0 165.0 2.0 13.5 Corona Quartz
            165.0 168.0 3.0 0.1 FW Shear
VIND058 6485944 379920 295 -60 268 361.0 369.0 8.1 5.0 Total Shear Zone
incl.           361.0 363.0 2.1 0.7 HW shear
            363.0 366.5 3.5 0.3 Corona Quartz
            366.5 369.0 2.5 15.2 FW Shear
VIND059 6485979 379760 296 -69 270 120.0 137.0 17.0 2.0 Total Shear Zone
incl.           120.0 122.0 2.0 0.5 HW shear
            122.0 124.0 2.0 0.1 Corona Quartz
            124.0 137.0 13.0 2.5 FW Shear
VIND060 6485981 379755 296 -55 296 129.0 132.7 3.7 0.2 Total Shear Zone
incl.           129.0 130.5 1.5 0.0 HW shear
            130.5 131.0 0.5 1.1 Corona Quartz
            131.0 132.7 1.7 0.0 FW Shear
VIND061 6485944 379925 295 -65 268 454.0 470.0 16.0 0.1 Total Shear Zone
VIND062 6485877 379924 295 -60 268 331.5 341.0 9.6 0.1 Total Shear Zone
VIND063 6485981 379800 295 -62 290 205.0 221.0 16.0 0.5 Total Shear Zone
incl.           205.0 219.7 14.7 0.1 HW shear
            219.7 220.1 0.4 16.5 Corona Quartz
            220.1 221.0 0.9 0.0 FW Shear
VIND065 6485940 379920 295 -57 266 314.0 322.0 8.0 0.1 Total Shear Zone
incl.           314.0 317.4 3.4 0.2 HW shear
            317.4 318.6 1.2 0.1 Corona Quartz
            318.6 322.0 3.4 0.0 FW Shear
VIND066 6485877 379928 295 -67 268 421.4 437.4 16.1 0.4 Total Shear Zone
incl.           421.3 429.2 7.9 0.1 HW shear
            429.2 432.2 3.0 1.8 Corona Quartz
            432.2 437.4 5.2 0.1 FW Shear
VIND068 6486002 379806 295 -56 269 179.0 193.5 14.5 2.1 Total Shear Zone
incl.           179.0 180.8 1.8 0.7 HW shear
            180.8 181.2 0.4 66.1 Corona Quartz
            181.2 193.5 12.4 0.2 FW Shear
VIND069 6486002 379810 295 -60 269 196.0 207.0 11.0 3.6 Total Shear Zone
incl.           196.0 200.4 4.4 0.3 HW shear
            200.4 203.0 2.6 9.1 Corona Quartz
            203.0 207.0 4.0 3.7 FW Shear
VIND070 6486002 379814 295 -64 269 211.4 218.7 7.3 0.5 Total Shear Zone
incl.           211.4 213.5 2.0 0.1 HW shear
            213.5 214.1 0.7 2.7 Corona Quartz
            214.1 218.7 4.6 0.4 FW Shear
VIND071 6485960 379815 295 -56 269 172.3 185.6 13.3 0.9 Total Shear Zone
VIND072 6485960 379819 295 -60 269 188.6 195.6 7.0 3.2 Total Shear Zone
VIND073 6485960 379823 295 -65 269 210.4 216.1 5.7 0.1 Total Shear Zone
VIND074 6485980 379866 295 -64 269 272.4 283.2 10.8 0.2 Total Shear Zone
incl.           272.4 276.3 3.9 0.0 HW shear
            276.3 276.9 0.6 2.8 Corona Quartz
            276.9 283.2 6.3 0.0 FW Shear
VIND075 6485930 379875 295 -60 268 255.7 263.3 7.7 0.5 Total Shear Zone
VIND076 6485962 379819 295 -61 274 193.2 201.0 7.8 18.5 Total Shear Zone
incl.           193.2 197.2 4.0 0.0 HW shear
            197.2 199.5 2.3 60.9 Corona Quartz
            199.5 201.0 1.5 0.8 FW Shear
VIND077 6485962 379815 295 -53 280 167.5 181.0 13.5 0.9 Total Shear Zone
incl.           167.5 168.2 0.7 3.5 HW shear
            168.2 169.5 1.3 2.8 Corona Quartz
            169.5 181.0 11.6 0.6 FW Shear

Chalice - Summary of Drilling Results
Hole
Number
Easting Northing RL Dip Azimuth From
(m)
Interval
(m)
Gold
(g/t)
Zone
CHUG0087 359518 6478925 1166 -34 271 148.7 15.3 5.7 Gap
                  Gap
            166.0 12.0 4.1 (HW3)
            184.0 6.0 5.2 HW2
CHUG0088A 359518 6478925 1165 -40 269 162.0 14.0 6.9 Gap
            192.0 1.0 2.7 Gap(HW3)
CHUG0089 359518 6478925 1166 -28 268 142.0 2.0 3.0 Gap
CHUG0095 359518 6478926 1166 -31 277 157.0 7.3 1.0 Gap
            171.0 6.6 8.3 HW2
CHUG0099 359518 6478925 1166 -30 260 152.0 9.0 2.7 Gap
            168.0 5.0 1.1 HW2
CHUG0152 359518 6478925 1165 -35 256 170.0 6.0 4.1 Gap
CHUG0154 359518 6478925 1166 -34 262 182.6 6.4 0.7 HW2

Surprise - Summary of Drilling Results
Hole
Number
Easting Northing Dip Azimuth From
(m)
To
(m)
Interval
(m)
Gold
(g/t)
SD001 333911 6573200 -60 240 22.0 23.0 1.0 4.6
          59.0 65.0 6.0 6.8
          97.0 102.0 5.0 Void
          107.0 108.0 1.0 1.6
          111.0 112.0 1.0 2.2
          123.0 124.0 1.0 1.1
SD002 333857 6573286 -60 240 13.0 14.0 1.0 1.5
          91.0 5.0 4.0 1.7
SD003 333964 6573112 -60 240 61.0 63.0 2.0 11.7
          90.0 91.0 1.0 7.0
          98.0 110.0 12.0 4.8
        Including  98.0 101.0 3.0 16.3
        Including 106.0 110.0 4.0 1.6
          113.0 115.0 2.0 3.9
          125.0 126.0 1.0 4.3
          135.0 137.0 2.0 12.4
SD004 333961 6573229 -60 240 74.0 75.0 1.0 1.1
SD005 333806 6573371 -60 240 82.0 87.0 5.0 10.8
SD006 333908 6573315 -60 240 9.0 10.0 1.0 1.4
          96.0 97.0 1.0 1.2
          104.0 107.0 3.0 14.7
          114.8 117.0 2.3 7.9
          176.0 177.0 1.0 1.2
          196.0 197.0 1.0 1.2
          199.0 200.0 1.0 2.5
          227.0 228.0 1.0 55.6
SD007 334017 6573026 -60 240 No signficant results
SD008 334014 6573141 -60 240 117.5 119.0 1.5 2.3
          230.0 233.0 3.0 13.1
SD009 333755 6573456 -60 240 3.0 4.0 1.0 1.7
          75.0 77.0 2.0 2.2
SD010 333856 6573400 -60 240 No signficant results
SD011 333958 6573344 -60 240 0.0 2.0 2.0 2.0
          31.0 32.0 1.0 1.1
SD012 334069 6572938 -60 240 77.0 78.0 1.0 1.1
          89.0 90.0 1.0 2.5
          100.0 101.0 1.0 1.9
SD013 334066 6573055 -60 240 No signficant results
SD014 334064 6573170 -60 240 180.5 182.0 1.5 8.3

Cautionary Statements

Except for statements of historical fact relating to Alacer, certain statements contained in this press release constitute forward-looking information, future oriented financial information, or financial outlooks (collectively "forward-looking information") within the meaning of Canadian securities laws. Forward‐looking information may be contained in this document and other public filings of Alacer.  Forward-looking information often relates to statements concerning Alacer's future outlook and anticipated events or results and, in some cases, can be identified by terminology such as "may", "will", "could", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "projects", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts.

Forward-looking information includes statements concerning, among other things, matters relating to proposed exploration, communications with local stakeholders and community relations, status of negotiations of joint ventures, commodity prices, mineral resources, mineral reserves, realization of mineral reserves, existence or realization of mineral resource estimates, the development approach, the timing and amount of future production, timing of studies and analyses, the timing of construction of proposed mines and process facilities, capital and operating expenditures, economic conditions, availability of sufficient financing, exploration plans and any and all other timing, exploration, development, operational, financial, budgetary, economic, legal, social, regulatory and political factors that may influence future events or conditions. Such forward‐looking information and statements are based on a number of material factors and assumptions, including, but not limited in any manner to, those disclosed in any other of Alacer's filings, and include exploration results and the ability to explore, the ultimate determination of mineral reserves, availability and final receipt of required approvals, titles, licenses and permits, sufficient working capital to develop and operate the mines, access to adequate services and supplies, commodity prices, ability to meet production targets, foreign currency exchange rates, interest rates, access to capital markets and associated cost of funds, availability of a qualified work force, ability to negotiate, finalize and execute relevant agreements, lack of social opposition to the mines, lack of legal challenges with respect to the property of Alacer and the ultimate ability to mine, process and sell mineral products on economically favorable terms. While we consider these factors and assumptions to be reasonable based on information currently available to us, they may prove to be incorrect.

You should not place undue reliance on forward-looking information and statements.  Forward-looking information and statements are only predictions based on our current expectations and our projections about future events.  Actual results may vary from such forward-looking information for a variety of reasons, including but not limited to risks and uncertainties disclosed in Alacer's filings at www.sedar.com and other unforeseen events or circumstances.  Other than as required by law, Alacer does not intend, and undertakes no obligation to update any forward‐looking information to reflect, among other things, new information or future events.

 

SOURCE ALACER GOLD CORP.

PDF available at: http://stream1.newswire.ca/media/2012/05/07/20120507_C4802_DOC_EN_13196.pdf

PDF available at: http://stream1.newswire.ca/media/2012/05/07/20120507_C4802_DOC_EN_13197.pdf

PDF available at: http://stream1.newswire.ca/media/2012/05/07/20120507_C4802_DOC_EN_13198.pdf

PDF available at: http://stream1.newswire.ca/media/2012/05/07/20120507_C4802_DOC_EN_13199.pdf

PDF available at: http://stream1.newswire.ca/media/2012/05/07/20120507_C4802_DOC_EN_13200.pdf

PDF available at: http://stream1.newswire.ca/media/2012/05/07/20120507_C4802_DOC_EN_13201.pdf

PDF available at: http://stream1.newswire.ca/media/2012/05/07/20120507_C4802_DOC_EN_13202.pdf

PDF available at: http://stream1.newswire.ca/media/2012/05/07/20120507_C4802_DOC_EN_13203.pdf

PDF available at: http://stream1.newswire.ca/media/2012/05/07/20120507_C4802_DOC_EN_13204.pdf



More by this Source


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

 

PR Newswire Membership

Fill out a PR Newswire membership form or contact us at (888) 776-0942.

Learn about PR Newswire services

Request more information about PR Newswire products and services or call us at (888) 776-0942.