NİĞDE BOLKAR SULFIDE PROJECT

Niğde Bolkar sulfide Project is located within the Bolkar 1 and 2 mining license areas and below the oxide zone which is currently exploited via underground mining. Since 2017, the company has been engaged in drilling and other engineering works in the sulfide region, which was identified through deep exploratory drilling from both surface and underground.

The drilling operations so far have revealed that the mineralization is in the form of a medium to high grade parallel lens between the breccia and shear zones. As of the end of 2020, drilling operations continue with a total of 140,000 meters drilled at an average depth of 600 meters.

In 2020, a pilot flotation plant with a capacity of 125,000 tonnes/year was established next to the enrichment plant in Tepeköy to process the run-of-mine ore mined from the sulfide zone (lead, zinc and pyrite) mined from the sulfide zone. Average lead and zinc head grade is 5.5% and average gold grade in the pyrite is up to 3.5 gr/tonnes. The facility produced approximately 125,000 tonnes of sulfide ore as part of the preparation and production efforts that started in late 2020, and is expected to produce 150,000 tonnes of sulfide ore in 2021.