Alacer Gold operations not harmed by Turkish earthquake

Michael Allan McCrae | October 24, 2011 | 5:09 am Precious Metals Australia Europe Gold

Alacer Gold (TSE:ASR) reports no injuries or damage occurred at the Çöpler Gold Project after a 7.2 magnitude earthquake struck the southern part of Turkey.

Over 200 people are confirmed dead with hundreds of more casualties expected. Structural damage near the earthquake is extensive.

The U.S. Geological Survey reported the epicenter was in the village of Tabani, about 410 kilometers southeast of Çöpler.

Alacer, a gold company with operations in Australia and Europe, is ramping up operations and planning to start with 1.42 million leachable ounces of gold at Çöpler.

The company says that average annual production is expected to be about 175,000 gold ounces. Additional production expansion from the sulfide gold reserve is expected to add 2.25 million ounces. A detailed feasibility study is underway.

Other mines operating in Turkey are Eldorado Gold’s Kisladag gold mine.

Google map indicating earthquake epicenter

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