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Kişladağ is our flagship gold mine.

It is a low-grade, bulk-tonnage, open pit operation that uses heap leaching for gold recovery. Kişladağ is the largest gold mine in Turkey.

Key Facts

Location Usak Province, Turkey
Mine type Open pit, heap leach
Metals mined Gold
Employees/contractors 1,254
Deposit type Gold porphyry
Ownership 100%
Resources & Reserves

2017 Outlook

Kisladag annual production and cash operating cost guidance was revised to 170,000-180,000 ounces at $500-550 per ounce on October 23, 2017. Laboratory test work done during the third quarter indicated that lower recoveries are now expected from the zone of mineralization located around the base of the open pit where mining is currently underway.

The Company is moving forward with assessing multiple processing solutions with a focus on a milling option. In parallel, the Company will continue to assess the performance of the deeper material when placed on the leach pad, along with test work to determine the viability of a high-pressure-grinding-roll (HPGR) option. The Company is working towards filing a Prefeasibility Report by the end of the first quarter of 2018. The Company expects to make a decision on a potential processing option based on this report.

Operating Data


2017E 2016A 2015A
Gold produced (oz) 170,000-180,000 211,161 281,280
Gold sold (oz)
211,284 280,892
Ore mined/processed (Mt) 13.1 16.6 19.1
Gold grade (g/t) 0.94 0.80 0.70
Cash operating costs ($/oz) 500-550 474 543
Sustaining capex ($M) 45.0 39.8 30.6

Geology and Mineralization

Kişladağ is a porphyry gold deposit that formed beneath a coeval Miocene volcanic complex in Western Anatolia, Turkey. At least four latite intrusive phases are recognized in the deposit. Alteration consists of a potassic core with K-feldspar, biotite, quartz and locally magnetite, outwardly overprinted by illite, kaolinite, quartz, and tourmaline. Remnants of a quartz-alunite lithocap are found near surface. Gold mineralization occurs within zones of quartz-pyrite stockwork and disseminations. Oxidation extends to a depth of 20 to 80 metres but there is no supergene enrichment. The mineralized intrusions at Kişladağ are enclosed within volcanic and volcaniclastic strata that overlie basement schist and gneiss of the Menderes Massif Core Complex. These strata dip outward from the deposit core, and display rapid facies changes from massive lavas and coarse poorly stratified units proximal to the porphyry centre, to finer well-stratified volcaniclastic strata that interfinger with lacustrine sedimentary rocks in surrounding sedimentary basins.

Exploration

The Kişladağ deposit was an original discovery made by Eldorado in the late 1990's during a regional grassroots exploration program. Our current exploration in the Kişladağ district is focused on defining and testing potential nearby satellite deposits, and identifying other porphyry centers in the surrounding region.

History

2014 Poured 2 millionth ounce of gold.
2014 Received approval of supplementary EIA
2012 Applied for supplementary EIA to increase yearly ore extraction to 35 Mtpa of ore
2011 Received approval of supplementary EIA for the expansion to 12.5 Mtpa; completed Phase III expansion
2009 Completed Phase II level pad expansion
2007 Completed Phase II plant construction
2006 Produced first doré in May; commercial production began in July
2005 Began construction
2003 Completed feasibility study; received EIA approval
1997 Identified ore body and began in-depth exploration

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