Yenipazar deposit, Bogazliyan District, Yozgat Province, Turkey

Overview and locality

The Yenipazar Project is a polymetallic volcanogenic massive sulphide (“VMS”) body that hosts a gold-silver-copper-lead-zinc mineral deposit within the Yenipazar Property. It has a currently [2019] determined strike length of at least 1,700 metres averaging 200 metres in width and approximately 20 metres in thickness at depths between 30 and 190 metres. Much of the ore body is sitting at a depth of approximately 50 to 120 metres. The Yenipazar Project includes approximately 9.5 square kilometres of land within the project fence line.

Drillholes that tested this extension returned grades higher than the average grades reported for the project’s reserves, including a drillhole that intercepted 17 m averaging 6.13% Pb, 7.78% Zn, 1.06% Cu, 1.79 g/t Au, and 118 g/t Ag. Significant exploration upside remains elsewhere on the property, as 90% of the land position is unexplored. There are at least 11 other occurrences on the property, at least one of which is coincident with historical geophysical anomalies.

A brief history

• Although the Yenipazar Deposit appears to have been mined during ancient and / or historic times (there is an old, shallow pit on the property developed into what was likely a copper plus / minus gold bearing gossan), contemporary work is limited to that undertaken by Yeni Anadolu Min. Mad. San. Ve Tic. Ltd. Sti (“YAMAS“) in the late 1990s on behalf of its parent Alacer (then Anatolia Minerals; Howard, 2005).
• Alacer was attracted to the area by the presence of gossanous outcrops and the historic pits. The Yenipazar Deposit was discovered during a regional reconnaissance soil and rock sampling program undertaken in the 1990s. Subsequent to this survey, Alacer acquired the property from the Turkish government and began exploring the property in more detail through YAMAS.