Alacer Gold Extends Çöpler Mineralization Including 100.1m @ 4.1g/t in Deepest Drillhole to Date

Tuesday, Aug 23, 2020

Alacer Gold Corp (“Alacer” or the “Company”) [TSX:ASR, ASX:AQG] announces ongoing results from the 2011 drilling program at the Çöpler Gold Mine. Of particular note is a thick, high-grade zone intersected below the Manganese Pit of 100.1m @ 4.1g/t Au from 427.5m including 41.1m @ 9.4g/t Au in CDD274 that confirms the significant depth potential of the Çöpler deposit.

The ongoing drilling campaign has also identified thick, high-grade mineralization outside of current resources in several areas:

— Depth extensions to Main Zone sulfide mineralization identified. Results include: o 70m @ 2.5g/t Au from 120m in CRC747

— Depth extensions to Southern Main Zone sulfide mineralization identified. Results include: o 35m @ 1.9g/t Au from 185m in CDD256 o 56m @ 1.1g/t Au from 122m in CDD261 o 17m @ 1.5g/t Au from 110m and 32.1m @ 1.4g/t Au from 161m in CDD253

— Shallow oxide mineralization extended and identified up to 1km west of the Main Zone. Results include: o 9m @ 2.0g/t Au from 8m in CRC750 o 9m @ 1.0g/t Au from 16m in CRC756 o 7m @ 1.1g/t Au from 1m in CRC751 o 3m @ 2.3g/t Au from surface and 11.9m @ 1.1g/t Au from 102m in CDD268

Edward Dowling, President and CEO of Alacer stated “The 2011 exploration program has continued to discover significant extensions to the Çöpler gold deposit in several areas.  The deepest diamond drillhole to date under the Çöpler gold deposit has intercepted a 100m thick zone grading 4.1g/t gold beneath the Manganese Zone that resoundingly demonstrates the potential for mineralization to continue at depth.

Drilling to extend known Main Zone mineralization has returned thick, high-grade sulfide gold mineralization and shallow oxide mineralization has been intersected up to one kilometer west of the Main Zone. Drilling continues to demonstrate the significant growth potential of the resource base and mine life at Çöpler. An ongoing drill program will test the scale and continuity of these numerous mineralized zones, leading to an updated mineral resource for Çöpler in early 2012. Alacer is also actively drilling numerous prospects in Australia and an update on those extensive exploration activities will be released soon.”

Çöpler Exploration

The Çöpler 2011 drilling program has been designed to infill and extend known oxide and sulfide mineralization at the Main Zone, particularly to the south, west and at depth.  In addition, deep diamond drillholes are planned to test the depth potential of the Çöpler deposit beneath the Manganese Zone.

Approximately 25,000 meters of diamond and reverse circulation (“RC”) drilling has been completed at Çöpler since drilling recommenced in January 2011 after a twelve month hiatus.  Results from the initial 37 drill holes were announced on April 29, 2020 and May 31, 2020.  These previous results highlighted significant extensions to both sulfide and oxide mineralization at the Main Zone. This release provides an update on the results from 47 drillholes received since the May 31, 2020 release. All significant assays from these 47 drill holes are detailed.

Çöpler Sulfide Extensional Drill Program – Manganese Zone Depth
Extension Identified

A program of deeper diamond drill holes is in progress within the 2011 drill program to determine the potential size and scale of the Çöpler deposit as part of the sulfide feasibility study. The first deeper drillhole (CDD274) has been completed, with the second deeper drillhole to commence soon.

CDD274 targeted gold mineralization 150m below the current Manganese open pit design limits.  A thick high-grade zone of 100.1m @ 4.1g/t Au from 427.5m including 41.1m @ 9.4g/t Au from 453.5m was intersected at the target depth.  True widths are estimated at 80% of downhole width.  Mineralization is strongly associated with a brecciated diorite intrusive and limestone breccia complex.

Figure 1 shows the location of CDD274 on section while Figure 6 shows the location in plan view.  The highest grade mineralization occurs within a brecciated intrusive and within the highly brecciated and fractured limestone near the intrusive contacts. This mineralized, brecciated instrusive cuts an earlier barren intrusive. The intersection in CDD274 has a mix of oxide and sulfide mineralization with the majority of the higher grade mineralization associated with strongly oxidized breccia.   The extreme depth of oxidation in the Manganese Zone deposit is highlighted by the strongly oxidized recrystalised limestone that was noted at over 640m downhole in CDD274.

CDD274 is the deepest (681.6m) drillhole ever completed at Çöpler and represents the deepest test of mineralization ever recorded (830RL), sitting over 300m below the current Manganese pit floor and 150m below the planned sulfide pit floor as outlined in the Çöpler Sulfide Prefeasibility Study.

During 2009, two deeper exploration holes in the Manganese Zone intersected 313.2m @ 2.4g/t Au from 54.2m in CDD201/201A and 249m @ 3.8g/t Au from 69m in CDD202/202A. At that time, the Company noted the potential for significant high-grade mineralization below the bottom of the current sulfide pit design. The thick, high-grade zone in CDD274 lies immediately below these previous intercepts and confirms the geological model and depth potential hypothesis for the Çöpler gold deposit.

Given the thickness and grade intersected in CDD274 and the fact that mineralization remains open in all orientations, potential exists to add significant ounces to the current oxide resource at Çöpler.  The scale and continuity of this mineralized zone will be tested with an ongoing drill program.

Çöpler Sulfide Extensional Drill Program – Main Zone Depth Extensions Identified

As part of the infill drill program at Çöpler for the sulfide feasibility study, individual drillholes are being extended to test the depth potential of mineralization below the existing resource model and open-pit mine design at Main Zone.  Drilling is indicating significant depth extensions in several areas at Main Zone with the potential to add ounces to the current resource.

In the central part of Main Zone immediately below the current planned pit floor (see Figure 2), CRC747 intersected 70m @ 2.5g/t Au from 120m (including 28m @ 3.8g/t Au from 132m).

In the eastern part of Main Zone immediately below the current pit boundary, CRC766 intersected 24m @ 1.8g/t Au from 126m (finished in mineralization at end-of-hole at 150m), and CDD260 intersected 19.9m @ 1.2g/t Au from 132.1m and 32.3m @ 1.4g/t Au from 168m.

Mineralization continues to remain open at depth and further deeper drilling is in progress.

Çöpler Sulfide Extensional Drill Program – South Main Zone Depth Extensions Identified

Results from this latest drilling campaign have indicated significant depth extensions to the new mineralized zone at the south end of Main Zone (‘South MZ’) announced in the press release dated May 31, 2020.   Drilling following up previously released drillholes CRC-721 (117m @ 2.0 g/t Au from 73m) and CRC-722 (69m @ 3.0 g/t Au from 54m) has identified continuity of mineralization over a minimum 750m strike length related to a south dipping intrusive / meta-sediment contact.

New results in the South MZ include 35.0m @ 1.9 g/t Au from 18.5m in CDD256, 56m @ 1.1g/t Au from 122m in CDD261 (see Figure 4), 28.1m @ 1.5g/t Au from 87.3m in CDD263, and 17.1m @ 1.5g/t from 110.4m and 32.1m @ 1.4g/t from 161.5m in CDD253. All intersections are expected to add significant ounces to the current Çöpler sulfide resource.

Mineralization continues to remain open down dip and is a target for further extensions to the sulfide mineralization. True widths are expected to be 80-100% of downhole width.

Çöpler Infill Drill Program

The infill drill program is continuing on the Main Zone as part of the Çöpler Sulfide Feasibility Study.  Drilling is targeted to bring the drill spacing down to less than 50m x 50m to provide an improved geological and grade estimation model for detailed mine planning and optimization. 

The majority of the infill drill results are confirming thicknesses of mineralization, but several holes are indicating significantly improved grades with the potential to add ounces to the current resource.

Additional Shallow Oxide Targets

Drill testing of additional oxide targets to the west of Main Zone continued to identify new oxide gold mineralization.

Two drillhole results (CRC756 and CRC757) have been received from drilling over 1km west of Main Zone and 600m northwest of West Zone at 457500E (see Figure 6).  Significant shallow oxide mineralization was intersected indicating the potential for significant western extensions to the Çöpler gold deposit with mineralization remaining open to the west.  CRC756 included 9m @ 1.0g/t from 16m and 6m @ 1.7g/t from 54m.

A northeast trending structure between the West Pit and Main Zone Pit has returned shallow oxide mineralization.  Best results are 9m @ 2.0g/t Au from 8m in CRC750, 7m @ 1.1g/t Au from 1m in CRC751, 5m @ 1.4g/t Au from 4m in CRC749 and 5m @ 1.1g/t Au from 12m in CRC753.

Drilling over the planned northwest waste dump has intersected oxide mineralization at surface, CDD268 recorded 3m @ 2.3g/t Au and CDD272A intersected 6.6m @ 1.4g/t Au.  Both drillholes also intersected deep oxide mineralization; CDD268 intersected 11.9m @ 1.1g/t Au from 102m and CDD272A intersected 5m @ 1.8g/t Au from 211.7m.

Source: Canadawire