Çöpler

Çöpler District - Building a Pathway to 300K - 400Kozs of Production for 10+ Years

Çöpler (80% SSRM owned) is located in east-central Turkey in the Erzincan Province, approximately 1,100 km southeast from Istanbul and 550 km east from Ankara, Turkey’s capital city.  Çöpler has been operating since 2010 and is currently processing ore through two producing plants – the oxide and sulfide plants. The oxide ore is processed via heap leach and the sulfide ore is processed using pressure oxidation. The current estimated mine life is 17 years.

Highlights of Çöpler include:

  • Mineral Reserves: Probable Mineral Reserves of 41.2 million tonnes at an average grade of 2.41 g/t or 3.2 million ounces of contained gold, as at December 31, 2019.
  • Potential for mine life extension: Indicated Mineral Resources of 79.8 million tonnes at an average grade of 1.97 g/t or 5.1 million ounces of contained gold. Inferred Mineral Resources of 31.3 million tonnes at an average grade of 1.31 g/t or 1.3 million ounces of contained gold. Mineral Resources are as at December 31, 2019. Mineral Resources are inclusive of Mineral Reserves.
  • Delivered record annual gold production: Produced 391,213 ounces of gold in 2019 at mine site AISC of $623 per payable ounce of gold sold.
  • Çöpler operating outlook: An updated NI 43-101 Technical Report is expected to be released in Q4 2020 that will start to define and evaluate optimization opportunities and potential growth within the Çöpler District from two areas:
    • Progressing programs to increase sulfide plant production rate above design and convert the large resource base
    • Increase oxide production and grow the reserve base from existing and new mines
  • Mine-life extension through exploration:  In addition to the gold in the known Mineral Reserves, we have been undertaking an in-pit exploration program to identify additional oxide ore. The in-pit exploration program has been successful, and we expect the program to continue to deliver additional oxide ore production. Additionally, exploration is ongoing with the goal of converting sulphide Mineral Resources to Mineral Reserves.

Çakmaktepe

Providing Oxide Ore Diversification

Çakmaktepe (50% SSRM owned) is located approximately 5 km from the existing Çöpler infrastructure and the Çakmaktepe ore is being processed through the existing Çöpler facilities. Mining operations commenced in September 2018 and production of Çakmaktepe phase one oxide ore was completed in 2019 and additional production is expected from phase two.

Highlights of Çakmaktepe include:

  • Mineral Reserves:  Probable Mineral Reserves of 1.3 million tonnes at an average grade of 2.13 g/t or 91,000 ounces of contained gold, as at December 31, 2019.
  • Potential for mine life extension:  Indicated Mineral Resources of 2.0 million tonnes at an average grade of 1.93 g/t or 127,000 ounces of contained gold. Inferred Mineral Resources of 1.7 million tonnes at an average grade of 0.88 g/t or 47,000 ounces of contained gold. Mineral Resources are as at December 31, 2019. Mineral Resources are inclusive of Mineral Reserves.
  • Çakmaktepe operating outlook:  As a result of the very successful phase one of oxide ore mining, an additional exploration program commenced in the Çakmaktepe permitted mining area. The aim of this short exploration program is to fast track phase two of oxide ore mining from areas of Çakmaktepe which are already permitted and ready for mining.
  • Mine-life extension through exploration:  Exploration continues at Çakmaktepe and results so far are encouraging. As exploration and understanding of the geology of Çakmaktepe and the Ardich deposits advance, it appears that there is connectivity between the areas, potentially creating an expanded “Greater Çakmaktepe” development pathway.

Robert Clifford, SSR Mining's Director, Operations Mine Planning, is a qualified person and has reviewed the foregoing disclosure on Çöpler. Please refer to the technical report entitled “NI43-101 Technical Report on Çöpler, Erzincan Province, Turkey” dated with an effective date of June 9, 2016, a link to which is provided below.

Mineral Resources are reported inclusive of Mineral Reserves. Please refer to our Mineral Reserves and Resources Table.

This page contains forward-looking statements. Please see the following link: Legal.

Videos

 

Reserves
And Resources
Reserves and Resources