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

It uses a flotation circuit to produce a gold concentrate.

Key Facts

Location Izmir Province, Turkey
Mine type Underground
Metals mined Gold
Employees/contractors ~870
Expected mine life 9 years*
Deposit type Epithermal gold
Ownership 100%
Resources & Reserves

* Based on current proven and probable reserves.

2021 Outlook

Efemçukuru is expected to mine and process almost 520,000 tonnes of ore at an average gold grade of 6.6 grams per tonne. Cash operating costs per ounce in 2021 are expected to increase due to fewer payable gold ounces sold, partially offset by the weakening of the Turkish Lira. Forecast total cash costs and AISC have increased due primarily to higher gold royalty rates consistent with higher gold prices. Expected sustaining capital expenditures for 2021 include drilling related to KPR resource conversion as well as 2020 carry-over capital expenditures.

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Operating Data

2021E 2020A 2019A
Gold produced (oz) 90,000-95,000 99,835 103,767
Gold sold (oz) - 98,340 105,752
Ore mined/processed (t) 520,000 523,702 521,034
Gold grade (g/t) 6.6 6.76 7.03
Cash operating costs ($/oz sold) 550-600 556 599
All-in Sustaining costs ($/oz sold) - 918 923
Sustaining capex ($M) 18.0-23.0 19.1 24.5

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 Turkey. 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 Turkey