Name and Location
Yenipazar polymetallic project, Turkey.

Client
Aldridge Minerals.

Project Description
The Yenipazar project has a probable mineral reserve of 29.17-million tons, with a grade of 0.89 g/t gold, 29.6 g/t silver, 0.30% copper, 0.96% lead and 1.41% zinc. The proposed mine development involves the construction of an openpit mine, a waste rock dump, a processing plant, a tailings facility and a supporting road infrastructure and various mine-related utilities.

Envisaged is a conventional openpit mine. The ore and waste materials will be mined with an owner-operated fleet of 90 t trucks and 10 m3 hydraulic excavators. Drilling and blasting of ore and waste rock will be required, while overburden materials will be free digging. The organic topsoil component of the overburden will be segregated and stockpiled separately. These temporary topsoil stockpiles will be used as part of the closure plan to cap the tailings dam, waste rock dump and other disturbed areas.

To distribute the waste-stripping quantities over time and to allow faster access to better grade ore, the pit has been subdivided into four phases that will be mined sequentially. Mining may occur in multiple phases simultaneously, depending on the respective strip ratios of ore to waste on the mining benches.

The process plant and design detailed in the feasibility study are based on conventional crushing and grinding, followed by a gravity circuit where most of the gold and a portion of the silver will be recovered. The gravity circuit will be followed by the sequential flotation of copper, lead, and zinc.

The design basis of the selected process is based on whole ore processing at a nominal throughput of 2.5-million tons a year.

Value
Total preproduction capital expenditure is estimated at $382-million.

Duration
Once initiated, it is estimated that construction will take about 21 months, which will be followed by a two-month period of plant commissioning and production ramp-up, estimated to take six months.

Latest Developments
In accordance with Turkish law, an environmental-impact assessment (EIA) report on the Yenipazar project must be submitted for approval by the Turkish government.

The EIA approval process involves the filing of an initial application, defining the scope of the proposed project and a public consultation process, both of which have been completed, as well as a final submission.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Too early to state.

Contact Details for Project Information
Aldridge Minerals director – investor relations, David Carew, tel +1 416 477 6984.