Alacer Gold Corp. ("Alacer") [TSX: ASR and ASX: AQG] is pleased to announce an increase in gold production guidance for the ??pler Gold Mine to 214,000 - 218,000 attributable1 ounces for 2013.
Rod Antal, Alacer's Chief Executive Officer, commented "??pler achieved record production in the third quarter of 81,059 ounces and fourth quarter production remains strong. Improvements in operating efficiencies, including increased levels of cyanide dosing and a focus on quality agglomeration, have increased production beyond expectations resulting in higher than forecasted gold production. This solid production has prompted a 10% increase in our 2013 production guidance. Our guidance for cash costs and capital expenditure remains unchanged."
Mr. Antal continued, "??pler's performance reinforces our strategy to focus on this world-class asset and the surrounding area. Alacer has a large landholding in Turkey with 14 active exploration projects. Using the initial positive geochemical and drill results received to date, Alacer is intensifying its exploration focus in Turkey with the goal of discovering one or more oxide ore deposits that can be brought into production over the next 3 to 4 years."
About Alacer
Alacer Gold Corp. is a leading intermediate gold mining company. Alacer's
world-class operation is the ??pler Gold Mine in Turkey. Alacer has 14 active exploration projects in Turkey which are 50%/50% joint ventures with our Turkish partner Lidya Mining.
During 2013, ??pler is forecast to produce 268,000 to 272,000 ounces at Total Cash Cost of less than $425 per ounce. ??pler is an epithermal gold deposit with oxide ore currently being processed in a conventional crush, agglomeration, heap-leach and gold recovery circuit.
The ??pler Gold Mine is operated by Alacer and is 80% owned by Alacer. ??pler is located in the eastern part of Turkey, roughly 550km east of Ankara and 120km southwest of the city of Erzincan. ??pler is an epithermal gold deposit, centered on a composite diorite to monzonite porphyry stock that has intruded into the surrounding metasediments and limestone-marbles. Crossing these units are two main parallel east-northeast striking faults with smaller northeast/northwest striking faults between them, providing a permissive environment for the hydrothermal mineralization. Mineralization at ??pler occurs in both oxide and sulfide forms, amenable to conventional open pit mining.
