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Kışladağ is a low-grade, bulk-tonnage, open pit operation that uses heap leaching for gold recovery. Kışladağ is located in Usak Province in western Turkey and is the largest gold mine in the country.

Key Facts

Location Usak Province, Turkey
Mine type Open pit, heap leach
Metals mined Gold
Employees/contractors ~480
Expected mine life 9 years*
Deposit type Gold porphyry
Ownership 100%
Resources & Reserves

* Based on current proven and probable reserves

2019 Outlook

For 2019, the Company is forecasting production of 145,000-165,000 ounces of gold, including approximately 70,000 ounces derived from ore previously placed on the leach pad. Approximately 9 million tonnes of new ore at an average grade of 1.1 grams per tonne is planned to be placed on the pad in 2019. Cash costs are estimated to be $570-620 per ounce of gold sold. Ore placed on the pad in 2019 is expected to contribute to production commencing in the second half of 2019 and into 2020.

Sustaining capital expenditures for 2019 are forecast to be approximately $10-15 million, spent primarily on capitalized waste stripping, equipment overhauls, some refurbishment work on the primary crusher and various small capital projects.

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Operating Data


2019E 2018A 2017A
Gold produced (oz) 145,000-165,000 172,009 171,358
Gold sold (oz) - 171,741 171,505
Ore mined/processed (Mt) 9.0 3.2 13.1
Gold grade (g/t) 1.1 1.13 1.03
Cash operating costs ($/oz) 570-620 662 500
Sustaining capex ($M) 10.0-15.0 17.8 27.9

Geology and Mineralization

Kışladağ 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 Kışladağ 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 Kışladağ deposit was an original discovery made by Eldorado in the late 1990's during a regional grassroots exploration program.

History

2019 January 2019 Decision to resume mining and heap leaching at Kisladag; mill project suspended.
2018 October 2018 Kışladağ feasibility study completed and subsequent Board approval to advance the Kışladağ mill project was received.
2018 March 2018 Pre-Feasibility Study for the Kışladağ Mill published
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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