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Efemçukuru is a high grade, underground operation located in Izmir Province in western Türkiye.

It uses a flotation circuit to produce a gold concentrate. 

Key Facts

Location Izmir Province, Türkiye
Mine type Underground
Metals mined Gold
Expected mine life 6 years*
Deposit type Epithermal gold
Ownership 100%
Resources & Reserves

* Based on current proven and probable reserves.

2022 Outlook

Efemçukuru is expected to mine and process over 525,000 tonnes of ore at an average gold grade of 5.9 grams per tonne. Cash operating costs per ounce in 2022 are expected to be impacted by fewer ounces produced and sold. Cost inflation is expected to be partially offset by the weakening of the Turkish Lira.

Expected sustaining capital expenditures for 2022 include underground development and resource conversion drilling. 2022 exploration includes conversion drilling of inferred resources at the Kokarpinar and Bati vein systems, resource expansion drilling at Kokarpinar and drill-testing several new targets on the property.

Virtual Tour

Operating Data

2022E 2021A 2020a
Gold produced (oz) 85,000-90,000  92,707 99,835
Gold sold (oz) 92,75898,340
Ore mined/processed (t) 525,000  528,212
Gold grade (g/t) 5.9  6.51
Cash operating costs ($/oz sold) 600-650  551
All-in Sustaining costs ($/oz sold) 901
Sustaining capex ($M) 15.0-20.0  18.0

Geology and Mineralization

Efemçukuru is an intermediate sulfidation epithermal gold deposit hosted within Upper Cretaceous phyllite and schist at the western end of the Izmir-Ankara Suture Zone in SW Türkiye. The host rocks are locally silicified to hornfels and cut by moderately N- to NE-dipping faults that are exploited by rhyolite dykes and epithermal veins. Two major veins host mineralization, Kestanebeleni and Kokarpinar, with the former containing the bulk of the ore. Vein mineralogy is variable but primarily consists of quartz, rhodonite (commonly replaced by rhodochrosite), adularia and sulfide assemblages including pyrite, galena, chalcopyrite and sphalerite. Spectacular, high grade banded crustiform-colloform textures characterize the veins in addition to multi-stage breccias that were likely the result of shallow-level boiling. Most of the gold is very fine (2.5 to 50 microns), occurring as free grains in quartz and carbonate, and as inclusions in sulphide minerals. Lower grade mineralized stockworks occur peripheral to the ore shoots, and are most strongly developed in hangingwall rocks.


The Efemçukuru epithermal vein deposit was identified and defined by Eldorado in the late 1990s. Current exploration is focused on adding resources to the two principal mineralized veins at the project: the Kestane Beleni Vein, which hosts the present mine reserves, and the subparallel Kokarpinar Vein, located 400m to the east. We are also continuing to identify and test new vein targets on the property.


2015 Commenced mining from the North Ore Shoot (NOS)
2014 Mine throughput increased to 435 ktpa
2013 Received approval of supplementary EIA for the expansion from 250,000 tpa to 600,000 tpa
2012 Commenced commercial sales of concentrate to third parties
2011 Commercial production began in December; mining and processing started in June
2008 Began construction
2007 Completed feasibility study
2005 Received EIA approval
1992 Discovered the deposit while carrying out reconnaissance work in western Türkiye