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Alacer Gold posts initial resource for Çakmaktepe, Bayramdere deposits at Copler

Alacer Gold Corp. posted an initial resource estimate for the Çakmaktepe and Bayramdere deposits, which form part of its Çöpler gold-silver-copper operation in Turkey.

The estimate comprises 2.4 million tonnes grading 1.80 g/t of gold and 11.53 g/t of silver for 140,000 ounces of gold in the indicated category and 381,000 tonnes grading 1.89 g/t of gold and 1.35 g/t of silver for 24,000 ounces of gold in the inferred category.

The company also reported in its Dec. 19 news release that recent drilling at Copler returned highlights of 30 meters at 3.56 g/t of gold from the Çakmaktepe Central deposit. Çakmaktepe Central was previously considered part of the Çakmaktepe North deposit, but is now recognized as a new separate zone.

"Based on the positive 2016 results, we are in the process of defining the exploration program for 2017 with the objective of rapidly developing these areas to have oxide ore ready to supplement the Çöpler mine in 2018," Alacer President and CEO Rod Antal commented.

Alacer Gold recently flagged lower output and higher costs for 2016, lowering its production guidance to between 115,000 ounces and 125,000 ounces of gold from a range of 150,000 ounces to 170,000 ounces of gold.