Alacer Gold Corp.

Published : February 06th, 2008

FILES SULFIDE SCOPING STUDY FOR 2.3 MILLION OUNCES AT ÇÖPLER GOLD PROJECT

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ANATOLIA FILES SULFIDE SCOPING STUDY FOR 2.3 MILLION OUNCES AT ��PLER GOLD PROJECT

 

 

February 6, 2008: Anatolia Minerals Development Limited ("Anatolia") [TSX:ANO]has filed on SEDAR (www.sedar.com) the Preliminary Assessment Sulfide Ore Processing Technical Report under National Instrument 43-101 ("Sulfide Scoping Study") for its 100%-owned ��pler Gold Project in Turkey.The Sulfide Scoping Study, which assumes production from sulfide resources, located primarily below the oxide reserves, following depletion of ��pler's 1.8 million ounce oxide mine, estimated an initial capital cost of $161 million for sulfide processing facilities, with average $385 per ounce cash operating costs for 2.3 million ounces of gold produced over a 12-year life, thus potentially extending the mine life to over 20 years at assumed production rates. A copy of the Sulfide Scoping Study can also be found on our website at www.anatoliaminerals.com

 

Based upon the results of this Sulfide Scoping Study, Anatolia plans to proceed with follow-up engineering, metallurgy and other work in order to develop a Preliminary Feasibility Study within the next few years. If subsequent work confirms favorable economics, Anatolia could consider initiating development within a few years after the planned oxide mine reaches full commercial production, or could wait until the oxide reserves are depleted, as assumed in the study. Either could have a positive financial impact on Anatolia.

 

The Scoping Study represents an unoptimized, technically feasible design undertaken for Anatolia by Pennstrom Consulting, Easton Process Consulting, Inc. and Resource Development Inc. All dollar references herein are in U.S. dollars.

 

Consulting Engineers

 

Anatolia retained William J. Pennstrom of Pennstrom Consulting and Christopher Easton of Easton Processing Consulting Inc., who prepared the process and infrastructure design and capital and operating costs and integrated the work of other consultants, including Independent Mining Consultants as filed on SEDAR April 30, 2007, (mineral reserves, resource estimation and mine planning), and Deepak Malhotra of Resource Development Inc. (metallurgical testing).

 

Qualified Persons

 

Mr. William J. Pennstrom of Pennstrom Consulting is the "qualified person" as defined by National Instrument 43-101 of the Canadian Securities Administrators ("NI 43-101") and is responsible solely for the contents of the Scoping Study. Mr. Christopher Easton of Easton Processing Consulting Inc. is the "qualified person" for the process design, Mr. Malhotra of Resource Development Inc. is the "qualified person" for metallurgy and Mr. John Marek, P.E. of Independent Mining Consultants is the "qualified person" for the resource estimate and ore reserves, as per the SEDAR 43-101 document filed April 30, 2007. Messrs. Pennstrom, Easton, Malhotra and Marek are not responsible for the contents of this news release. The Scoping Study is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary assessment will be realized. Additional drilling will be required and is planned to better categorize these mineral resources. A technical report summarizing the Scoping Study and meeting the requirements of NI 43-101 will be filed with the appropriate regulatory authorities within 45 calendar days of this news release.

 

Anatolia is developing its 100%-owned ��pler Gold Project in Turkey. The current phase of development anticipates mining the open-pittable oxide portion of the deposit over a 10-year period, producing 1.8 million ounces gold and 2.2 million ounces silver. Additionally, Anatolia is among Turkey's leading minerals exploration companies, targeting numerous potentially large-scale base metals and gold opportunities.

 

Anatolia currently has 83.1 million common shares issued and outstanding, 99.3 million fully diluted. For more information: Richard C. Moores, President, (303) 670-9945/9947 (fax), or Douglas Tobler, Chief Financial Officer, (303) 292-1299/297-0538 (fax), or visit www..anatoliaminerals.com. Anatolia trades on the Toronto Stock Exchange as ANO.

 

This news release may contain forward-looking statements in respect of various matters including upcoming work programs and events. The results or events predicted in these forward-looking statements may differ materially from actual results or events. Anatolia disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Assays are performed by ALS-Chemex, Vancouver, BC, Canada, with quality control of sampling, preparation and assaying overseen by Anatolia, whose President, Richard C. Moores, is a "qualified person" for the purposes of applicable Canadian securities regulations. Mr. Moores reviewed this press release.

 

 

 

 

 

 

Anatolia Minerals | 405 Urban St. Suite 150 | Lakewood | CO | 80228

Alacer Gold Corp.

PRODUCER
CODE : ASR.TO
ISIN : CA0329001022
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Alacer Gold is a gold producing company based in United states of america.

Alacer Gold produces gold, copper and silver in Australia and in Turkey, and holds various exploration projects in Australia and in Turkey.

Its main assets in production are HIGGINSVILLE - CHALICE, SOUTH KALGOORLIE GOLD MINE, HIGGINSVILLE - TRIDENT, HIGGINSVILLE - FAIRPLAY, HIGGINSVILLE - PALAEOCHANNELS and TRIDENT GOLD MINE in Australia and ÇÖPLER GOLD PROJECT in Turkey and its main exploration properties are KARAGOZ, BURSA EAST, TORUL, BAYBURT, IKIZTEPE - SARP, KEN-FOL, ARTVIN, KARAKARTAL, CEVIZLIDERE and YENIPAZAR in Turkey, MT FISHER in Canada and REDHILL, MT ZEPHYR and MUNGARI in Australia.

Alacer Gold is listed in Australia, in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 5.9 millions as of today (US$ 5.5 millions, € 3.8 millions).

Its stock quote reached its lowest recent point on September 14, 2009 at CA$ 0.02, and its highest recent level on October 21, 2011 at CA$ 9.99.

Alacer Gold has 292 850 016 shares outstanding.

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