Kisladag Türkiye

The mine is 100% owned and operated by Tuprag Metal Madencilik Sanayi ve Ticaret, a subsidiary of Eurasia Minerals Corporation. The mine started commercial production in 2006. The Kisladag gold mine produced 38,990oz of gold in the second quarter of 2024.

The Kisladag gold mine is situated in west-central Turkey, approximately 180km inland from the Aegean coast, positioned between Izmir and Ankara. The site is located 35km south-west of the city of Usak.

The project area is covered by a single operational licence, number 85995, encompassing a total of 17,192ha.

Reserves at Kisladag site

The proven and probable mineral reserves at the Kisladag gold mine are estimated at 176.5 million tonnes (mt) grading 0.67g/t of Au (Gold) as of September 2023. The contained metal is estimated at 3,759oz of gold.

GEOLOGY AND MINERALIZATION.

Kisladag is a porphyry gold deposit that formed beneath a coeval Miocene volcanic complex in Western Anatolia, Türkiye. At least four latite intrusive phases are recognized in the deposit.

Alteration consists of a potassic core with K-feldspar, biotite, quartz and locally magnetite, outwardly overprinted by illite, kaolinite, quartz, and tourmaline. Remnants of a quartz-alunite lithocap are found near surface.

Gold mineralization occurs within zones of quartz-pyrite stockwork and disseminations.

Oxidation extends to a depth of 20 to 80 metres but there is no supergene enrichment.

The mineralized intrusions at Kisladag are enclosed within volcanic and volcaniclastic strata that overlie basement schist and gneiss of the Menderes Massif Core Complex.

These strata dip outward from the deposit core, and display rapid facies changes from massive lavas and coarse poorly stratified units proximal to the porphyry centre, to finer well-stratified volcaniclastic strata that interfinger with lacustrine sedimentary rocks in surrounding sedimentary basins.

EXPLORATION

The Kisladag deposit was an original discovery made by us during a regional grassroots exploration program.

The deposit is a gold-only porphyry, with unusual and exceptionally low copper concentrations present. Commercial production as a bulk-tonnage, open pit heap leach mine commenced in 2006.

Since defining the resource of the deposit, no exploration has been undertaken in the immediate resource area.

Limited exploration activities have been undertaken sporadically across the district.