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AHGAZ.E — Ahlatci Dogal Gaz Dagitim Enerji ve Yatirim News Story

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Brief: Ahlatcı Dogalgaz Shares Report Related To Sarikaya Gold Mine Project Of Indirect Subsidiary Ahlatci Altin Işletmeleri

Nov 25 (Reuters) - AHLATCI DOĞAL GAZ DAĞITIM ENERJİ VE YATIRIM AHGAZ.IS:

INDIRECT SUBSIDIARY AHLATCI ALTIN IŞLETMELERI HOLDS SEVEN GOLD MINING SITES IN YOZGAT

THE UMREK-2023 EXPLORATION TARGETS REPORT COVERS ONLY ONE OF THESE — LICENSE AREA NO. 201200128 IN SARIKAYA, SPANNING 1,968.67 HECTARES

ACCORDING TO THE REPORT, THE GEOLOGICAL MODEL IS BASED ON DETAILED MAPPING AND 56 DRILL HOLES (41 RE-LOGGED, 15 RC)

AN ESTIMATED 41.18 MILLION TONNES OF POTENTIAL ORE HAVE BEEN IDENTIFIED, WITH AN AVERAGE GRADE OF 0.70 G/T

THE PROJECT'S POTENTIAL IS CALCULATED AT APPROXIMATELY 927,000 OUNCES OF GOLD, VALUED AT AROUND USD 4 BILLION

THE MODEL IS CURRENTLY ASSESSED AT THE EXPLORATION TARGET LEVEL

WORK ON RESOURCE AND RESERVE REPORTS HAS BEGUN AND WILL BE SHARED WHEN COMPLETED

EXPLORATION OF THE REMAINING SIX SITES IS ONGOING

THE EARLIER PLAN TO BUILD A NEW PROCESSING FACILITY HAS BEEN REVISED, AND THE ORE WILL INSTEAD BE PROCESSED AT AN EXISTING PLANT NEAR THE SITE TO REDUCE COSTS AND ACCELERATE FINANCIAL IMPACT

AHLATCI ALTIN IŞLETMELERI WILL CONTINUE EVALUATING NEW GOLD MINING INVESTMENT OPPORTUNITIES IN LINE WITH ITS SUSTAINABLE GROWTH STRATEGY

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 (Gdansk Newsroom)

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