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Alacer Gold Corp (ASX:AQG) - Chairman, Edward C Dowling
Chairman, Edward C Dowling
Sourced: Penn State Alum Association
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  • Alacer Gold (AQG) has released assay results from its Copper Hill copper prospect in Turkey
  • The drill program consisted of eight diamond drill holes and seven of the holes intersected sulphide copper mineralisation
  • Results include 40.8 meters containing 2.66 per cent copper from 144 meters
  • The company is very happy with the results, stating all intercepts made were high grade, close to the surface and free of contaminants
  • Alacer Gold is trading 6.57 per cent in the green and shares are selling for $7.30 each

Alacer Gold (AQG) has posted its initial drill results from the Copper Hill copper prospect in Turkey.

The prospect is located in the Black Sea region of northeast Turkey, 30 kilometres southwest of Kurtun town.

The drill program consisted of eight diamond drill holes totalling 3180 meters of on-site drilling and seven of these holes intersected sulphide copper mineralisation.

The company has posted copper assays of 40.8 meters containing 2.66 per cent copper from 144 meters.

Other pleasing results include 70.3 meters containing 1.66 per cent copper from 83 meters.

Alacer is very happy with the results, stating all intercepts made were high grade, close to the surface and free of contaminants. All this bodes well for the production price per pound.

As yet, the company does not have the permits required to drill the entirety of the property, so it has concentrated its drilling work within the areas it is permitted to do so. 

The company has stated it will restart exploration work at Copper Hill when weather and permitting allows.

The Copper Hill project is a joint venture between Alacer and its partner Lidya Mining

Lidya and Alacer have been partners in crime since a previous Alacer joint venture partner spun Lidya out in 2010.

The Copper Hill project is close to Alacer’s flagship project, its Copler Gold Mine in east-central Turkey. It is hoped that the exploration work at Copper Hill can tie in with operations at Copler one day to generate some efficiencies in the region.

The Copler Gold Mine is 80 per cent owned by Alacer and 20 per cent owned by Lidya.

The Copler region remains Alacer’s focus, while it makes plays into surrounding regions for prospective plays such as Copper Hill.

Other Alacer projects in the region include the Cakmaktepe, Ardich and Copler Saddle prospects. 

Alacer Gold is trading 6.57 per cent in the green. Shares are selling for $7.30 each at 10:26 am AEST.

AQG by the numbers
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