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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.

2020 Outlook

For 2020, the Company is forecasting production of 90,000-100,000 ounces of gold. Efemçukuru is expected to mine and process over 510,000 tonnes of ore at an average grade of 6.9 grams per tonne gold. Cash operating costs are estimated to be $650-700 per ounce of gold sold. Operating costs are forecast to be inline with 2019 actual operating costs.

Sustaining capital expenditures for 2020 are forecast to be approximately $15-20 million, spent primarily on capitalized underground mine development, equipment rebuilds, column flotation and resource expansion drilling.

Virtual Tour

Operating Data

2020E 2019A 2018A
Gold produced (oz) 90,000-100,000 103,767 95,038
Gold sold (oz) - 105,752 97,485
Ore mined/processed (t) 510,000 521,034 499,121
Gold grade (g/t) 6.9 7.03 6.76
Cash operating costs ($/oz sold) 650-700 599 511
All-in Sustaining costs ($/oz sold) - 923 834
Sustaining capex ($M) 15.0-20.0 24.5 24.4

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