Drilling at SSR Mining‘s (TSX: SSRM; NASDAQ: SSRM; ASX: SSR) Ardich gold deposit in Turkey has returned robust outcomes as the corporate plans an preliminary reserve estimate slated for subsequent 12 months, adopted by first manufacturing in 2023.
SSR reported outcomes from 194 diamond drill holes accomplished between March 2020 and Might 2021 at Ardich, positioned 6 km from its Copler gold mine.
Highlights from step-out drilling included 40.7 metres of seven.48 grams gold per tonne (together with 5 metres of 29.99 grams gold per tonne) from 155 metres depth in gap AR274; 24.5 metres of 4.18 grams gold per tonne (together with 1 metre of 35.1 grams gold per tonne) from 246 metres in gap AR280; and 62.7 metres of two.98 grams gold per tonne (together with 3.4 metres of 13.43 grams gold per tonne) from 163 metres in gap AR356.
SSR accomplished a preliminary economic assessment last November for its 80%-owned Copler district, together with the Copler mine, which produces sulphide ore and Ardich, a predominately oxide deposit.
The corporate says Ardich is a key natural development initiative, with the PEA highlighting the potential for the deposit to contribute 1.1 million oz. of gold over an 11-year mine life for a capital funding of $50 million.
SSR at present has seven drills onsite at Ardich conducting infill and step-out drilling.
“These are nice outcomes and we’re keen to construct them into our fashions as we intention to each enhance on the Ardich PEA case offered within the present technical report and ship an preliminary mineral reserve assertion for the venture,” Rod Antal, SSR’s president and CEO acknowledged in a press launch. “Allowing and different works required to deliver Ardich into manufacturing proceed in parallel with the exploration and useful resource definition drilling.”
Commenting on the assays, Cosmos Chiu of CIBC’s fairness analysis crew, famous that the drill outcomes “included step-out holes, positioned to the west, south and south-west of the present Ardich mineral useful resource space, and level to the continued potential of useful resource enlargement and development, along with affirmation of present assets.”
Ardich is positioned 1.5 km north of SSR’s 50%-owed Cakmakepe mine (an oxide deposit), itself positioned about 5 km away from its 80%-owned Copler operation. Many of the assets up to now outlined at Ardich (96%) are on floor that’s 80% held by SSR.
The Copler mine is predicted to supply 310,000 to 340,000 oz. gold this 12 months at all-in sustaining prices of US$760-810 per ounce.
In June, the corporate accomplished a supplemental flotation circuit at its sulphide processing plant at Copler. Commissioning and ramp-up are anticipated to be accomplished within the third quarter.