With a site selection permit in hand,
The permit, issued by the province of Usak, defines an area large enough to accommodate open-pit mining and heap leaching.
A gold porphyry deposit, Kisladag hosts a measured and indicated resource of 42.8 million tonnes averaging 1.49 grams gold per tonne, based on a cutoff grade of 0.8 gram gold. The inferred portion is pegged at 31.1 million tonnes averaging 1.35 grams.
About 17% of the total resource is oxide material, the rest being a mixture of transitional sulphides. Mineralization is hosted in a medium-grained andesitic crystal tuff, intruded by a weakly mineralized micro-diorite stock measuring 250 metres in diameter. The oxide material responded well to leach tests and achieved a gold recovery in excess of 95%. Leaching of the sulphide material produced gold recoveries in the range of 78-87%.
Eldorado has also signed an agreement with the Usak government that will allow local participation in the development of Kisladag.
In the coming months, the company will continue drilling in an effort to define and expand the resource. A prefeasibility study is planned for later in 2000.
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