TURKEY – With a positive feasibility study in hand, of Toronto-based ANATOLIA MINERALS DEVELOPMENT is proceeding with detailed engineering for its Copler gold project 500 km southeast of the capital, Ankara. The company hopes to make a construction decision by the end of this year and pour gold in 2008.
The feasibility study recommends an open pit with both a 5,000-tonne/day mill and a 7,500-tonne/day heap leach process. Oxide ore (12.7 million tonnes at 2.61 g/t Au) would be processed in the mill, and the remaining ore (15.0 million tonnes at 0.947 g/t Au) is suitable for heap leaching. The Copler deposit contains proven and probable reserves totalling 38.7 million tonnes containing 2.0 million oz of gold and 5.8 million oz of silver. Additional resources of 31.8 million tonnes at 1.75 g/t Au in the measured and indicated categories and 20.0 million tonnes at 2.52 g/t Au in the inferred category were noted by the company.
Anatolia says total capital costs for the project are US$125.7 million, plus-or-minus 15%. Cash operating costs are estimated to be $182/oz of gold produced. An average of 1.4 million oz of gold and 1.9 million oz of Ag would be produced annually.
Geological and mineralogical information prepared by WATTS, GRIFFIS and McQUAT is available at www.Anatolia-Minerals.com.