Hod Maden Project, Türkiye

Hod Maden is a world-class gold-copper deposit, representing one of the highest margin and lowest capital intensity development assets globally. 1 Hod Maden is located in northeastern Türkiye within the Eastern Pontides metallogenic belt and approximately 130 km from the Erzurum airport. The Project is located approximately 330 km from SSR Mining's Çöpler Mine and 260 km from the Copper Hill development prospect. The Hod Maden licenses cover approximately 3,500 hectares.

Hod Maden Ownership

100%

Ownership

100%

Mineral Reserve

2.60Moz
of gold

Mineral Reserve

3,250Mlb
of copper

Overview and locality

Hod Maden gold-copper project, Turkey

The Hod Maden gold-copper project is an underground mining development located in the Artvin province in north-eastern Turkey. It lies in close proximity to Yukarimaden village and 2km from Asagimaden.

The project is situated within the Eastern Pontides tectonic belt, on the eastern margin of a Cretaceous age volcanic stratigraphy which is host to several volcanogenic massive sulphide (VMS) deposits. The Hod Maden orebody has a north-south strike and comprises the main zone with the bulk of the orebody and the south zone with limited economic mineralisation.

Gold and copper mineralisation at Hod Maden is defined as a polymetallic sub-volcanic hydrothermal deposit formed between the epithermal and porphyry zones. The mineralisation occurs within andesitic breccias and dacitic tuffaceous sediments in the form of quartz-sulphide, haematite/jasper breccias, massive sulphides and pyrite-chalcopyrite.

Gold-copper project reserves

The proven and probable mineral reserves at Hod Maden are estimated at 8.69Mt grading 8.8g/t gold and 1.5% copper and containing 2.4koz gold and 287Mlb copper, as of July 2020.

Mining methods

Hod Maden will be developed as an underground mining operation using transverse and longitudinal longhole stoping (LHS) and modified drift and fill (DAF).

The DAF mining method will be used in the upper sections of the deposit where ground conditions are poor. It will allow for high recovery while limiting exposure to these poor ground conditions.

The upper mine will consist of 171m of shaft and 36km of lateral development. Access to the mine will be via two 11.4m internal diameter shafts that will advance as each level is completed.

LHS mining method will be utilised in the lower sections of the mine in a primary/secondary sequence with paste backfill due to more competent ground conditions and flexibility of the method.

The lower mine will consist of 26km of lateral and 1.9km of vertical development. A portal at the north of the deposit will be used as access, while all development infrastructure will be located to the west and within the footwall of the deposit.

Mining will be carried out sequentially from the hanging wall to the footwall. The orebody is up to 60m wide, which allows for two stoping panels to be developed with approximately 30m width.

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