Vancouver — The purchase of private and public lands brings
The company acquired lands held by the state (either as treasury land or forestry lands) and privately owned agricultural holdings totalling about 9 sq. km. As part of that process, residents of the nearby community of Ovacik were asked if they preferred to remain in the settlement or relocate to a new area. The citizens unanimously chose to relocate and accepted an offer from the company to buy their properties — 417 parcels totalling 2.2 sq. km.
Eldorado President Paul Wright says the “timely, efficient completion of the complex land purchase positively reflects the support of the local community for the Kisladaq project.” He also praises the company’s staff in Turkey for their efforts in making the land acquisition a success.
With the complex land deal behind it, Eldorado plans to focus on the final stages of the permitting process, including zoning and construction.
Eldorado hopes to be able to start construction of an open-pit, heap-leach operation in the second quarter. Kisladaq hosts a measured and indicated resource of 214.8 million tonnes grading 1.04 grams gold per tonne, or 7.1 million contained oz., plus additional inferred resources of 45.5 million tonnes at 0.75 gram gold. Total reserves stand at 135 million tonnes grading 1.16 grams, or about 5 million contained ounces gold.
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