Eldorado increases Kisladag resource

Vancouver — After incorporating the results of this year’s drill program Eldorado Gold (ELD-T) has tabled an interim resource estimate for its wholly-owned Kisladag gold project in western Turkey.

Micon International incorporated results from 4,565 metres of additional drilling completed this year that were designed to further define the limits and possible extensions of the previously defined 6.7 million oz. resource at Kisladag.

The resource calculations were based on the previously developed geological model and include data from the over 23,800 metres of drilling and trenching. The estimate is based on 0.4 gram gold per tonne cut-off grade.

In the measured and indicated category, the resource now stands at 149 million tonnes grading 1.14 grams gold per tonne, or 5.46 million oz. contained gold. The inferred resource weighs in at 61.9 million tonnes grading 0.92 gram gold, or 1.8 million contained oz. gold.

The previous measured and indicated resource was 126 million tonnes grading 1.20 grams gold per tonne and the previous inferred resource was 55.5 million tonnes grading 1.02 grams gold.

Eldorado reports that all samples from the drill program are prepared in Eldorado’s sample preparation laboratory in Turkey according to procedures established by Micon International. Sample pulps were shipped to the ALS Chemex Laboratory in Vancouver for gold fire assay with A.A. finish.

Eldorado continues to work towards bringing the Kisladag project to full feasibility by the first quarter next year. Additional metallurgical test work is ongoing and the Environment Impact Assessment is well underway. The company also states that an additional 4,000-metre in-fill drill program will be started before the end of the month.

Higlights from the most recent program are as follows;

• Hole GC40 intersected 202.5 metres grading 1.14 grams gold per tonne, starting from a down-hole depth of 249 metres. This included a 20-meter interval that averaged 3.21 grams gold.
• Hole GC110 cut 192.5 metres averaging 1.25 grams gold, starting at a down-hole depth of 375.5 metres.
• Hole GC113 intersected 450 metres grading 1.52 grams gold, starting 2.5 metres down-hole. This included a 105-metre interval averaging 2.64 grams gold.
• Hole GC114 cut 190 metres averaging 0.93 gram gold, starting 261.5 metres down-hole.
• Hole GC116 intersected 192.5 metres averaging 1.02 grams gold, starting 12 metres down-hole.
• Hole GC117 cut 160 metres averaging 1.92 grams gold starting 153 metres down-hole.

Meanwhile, at the Brumal property, situated five km from the company’s Sao Bento mine in Brazil, a drill program is underway to confirm and expand previously identified mineralization. Results from recently completed holes are as follows;

• Hole SJ-01 intersected a true width of 3.78 metres averaging 32.22 grams gold per tonne starting 129.08 metres down-hole (all intervals are reported as true width).
• Hole SJ-02 cut 1.71 metres averaging 3.92 grams gold, starting 349.66 metres down-hole.
• Hole SJ-03 intersected a 0.94-metre interval averaging 3.18 grams gold, starting 198.24 metres down-hole.
• Hole SJ-04 cut 2.31 metres averaging 12.43 grams gold, starting 197.73 metres down-hole.
• Hole SJ-05 cut 5.23 metres averaging 22.82 grams gold, starting 151.65 metres down-hole.

The company plans to table a resource estimate for Brumal by the fourth quarter this year. Eldorado has envisioned developing the Brumal project though a decline access and running it as underground operation supported by the Sao Bento infrastructure and operating team. The junior miner plans to utilize its excess milling capacity at Sao Bento to process the Brumal ore.

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