Brief: Erdemir Says Initial Surveys At Gold Mine Site In Kangal District Of Sivas Province Showed An Estimated 424,000 Ounces Of Gold

Eregli Demir ve Celik Fabrikalari

05/11/2025 05:39

Nov 5 (Reuters) - EREĞLİ DEMİR VE ÇELİK FABRİKALARI EREGL.IS:

SAID ON TUESDAY INITIAL SURVEYS AT THE GOLD MINE SITE IN KANGAL DISTRICT OF SIVAS PROVINCE SHOWED AN ESTIMATED 424,000 OUNCES OF GOLD

WITHIN SCOPE OF EXPLORATION ACTIVITIES CONDUCTED BY ERDEMIR MADENCILIK SANAYI VE TICARET, A SUBSIDIARY OF EREGLI DEMIR VE ÇELIK FABRIKALARI, IN THE ALACAHAN VILLAGE AREA OF KANGAL DISTRICT, SIVAS PROVINCE, AN "INFERRED RESOURCE" LEVEL OF GOLD MINERALIZATION HAS BEEN IDENTIFIED

LICENSE AREA COVERS 5,804.08 HECTARES, OF WHICH 45 HECTARES HAVE BEEN EXPLORED TO DATE

THE CALCULATIONS WERE MADE BASED ON A 0.5 G/T GOLD CUT-OFF GRADE, AND APPROXIMATELY 424,000 OUNCES OF GOLD CONTENT WERE IDENTIFIED IN 14.9 MILLION TONNES OF ORE WITH AN AVERAGE GOLD GRADE OF 0.89 G/T GOLD

THE AVERAGE DENSITY WAS DETERMINED AS 2.53 G/CM³, AND QUALITY ASSURANCE AND QUALITY CONTROL (QA/QC) PROCEDURES WERE CONDUCTED IN ACCORDANCE WITH INTERNATIONAL STANDARDS

EXPLORATION ACTIVITIES AT THE ALACAHAN SITE ARE ONGOING BOTH WITHIN THE CURRENTLY MODELED AREA AND IN POTENTIAL ZONES WHERE DRILLING HAS NOT YET BEEN CONDUCTED

INFILL DRILLING WITHIN THE DEFINED MINERALIZED ZONE IS CONTINUING, AND UPON COMPLETION OF THESE WORKS, THIS PORTION IS INTENDED TO BE UPGRADED TO A HIGHER CONFIDENCE CATEGORY SUITABLE FOR INCLUSION IN FUTURE RESERVE CALCULATIONS. CONCURRENTLY, CORE DRILLING PROGRAMS HAVE BEEN PLANNED AND INITIATED IN OTHER AREAS OF THE SITE TO SUPPORT NEW DISCOVERIES AND RESOURCE EXPANSION

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 (Gdansk Newsroom)

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