Alacer Gold's Australian Exploration Success Supports Planned Gold Production Growth
TORONTO, Aug. 30, 2011 /CNW/ --
TORONTO, Aug. 30, 2011 /CNW/ - Alacer Gold Corp ('Alacer' or the
'Company') [TSX:ASR, ASX:AQG] announces ongoing results from the 2011
drilling program at its Higginsville and South Kalgoorlie Gold
Operations in Australia.
Highlights
-- The Trident orebody extended down plunge by the discovery of a
thick zone of mineralization ('Helios') at Higginsville.
Results include:
o 54.5m @ 3.7g/t Au from 1,010m including 23m @ 7.7g/t Au
o 33.0m @ 3.7g/t Au from 961m including 13m @ 5.5g/t Au
-- Shallow, high-grade drilling intersection from Shirl West at
South Kalgoorlie including:
o 10m @ 11.4g/t Au from 13m
o 17m @ 6.6g/t Au from 35m
-- Final infill drilling of the Mt Marion West lode at South
Kalgoorlie confirmed continuity of mineralization over a 600m
vertical extent. Results include:
o 8m @ 5.0g/t Au from 281m
o 9m @ 4.7g/t Au from 431m
-- Acquisition of the Mt Martin tenements provides another
potential ore source for South Kalgoorlie.
Edward Dowling, President and CEO of Alacer stated 'Our exploration team
is systematically testing Alacer's large tenement holdings in
Australia's richest gold belt - the Kalgoorlie to Norseman gold belt.
We are investing in exploration to support our strategy of having
multiple mines providing ore to two treatment hubs in this prolific
region. Success over recent months includes the discovery of the thick
Helios zone at Trident and shallow high-grade oxide gold mineralization
at Shirl West. We remain confident that further success will enable
the Company's resource and reserve base to increase and support our
planned increase in gold production from our Australian operations.'
This exploration update reports Australian drilling results received
since the Alacer's Quarterly Activities Report was released on April
29, 2011.
Higginsville Exploration
The active exploration program at Higginsville continued to test for
depth extensions to the Trident orebody and for satellite ore sources
for the Higginsville processing plant.
Trident Exploration
Drill testing from underground of the strike extent of the Apollo North zone at Trident has extended the strike extent of this thick,
high-grade zone to in excess of 150m with a dip extent of 50m to 60m.
A new zone of mineralization (named 'Helios') has been confirmed at depth to the north of the Artemis lode. The
Artemis mineralization is interpreted to extend up to the commencement
of Helios where the mineralization changes from narrow laminated quartz
veining to a broad zone of strong shearing, sulphidation and
alteration.
Drilling has confirmed that the continuity of the thick Helios
mineralization is at a scale potentially similar to the recently mined
Western Zone. The Helios mineralization has now been defined as a broad
zone over a 200m length, 350m depth and up to 30m thickness within
which there is a higher grade component. The transition from the
laminated quartz veins of Artemis into the larger, more disseminated
style mineralization of Helios has distinct similarities with the
transition from the laminated quartz lodes of the Athena orebody into
the thick, 350,000 ounce Western Zone orebody. This similarity in
styles increases the down-plunge potential for additional
mineralization at Trident as it demonstrates a repetition and
periodicity to the laminated vein lodes (Athena and Artemis) and
larger, more disseminated zones of mineralization (Western Zone/Apollo
and Helios).
Diamond drilling from both underground and surface will continue to
infill and test for extensions to the Trident orebody.
____________________________________________________________________
| Hole | North | East |Dip/Azi|From |To (m)|Int |Grade|Comment|
| | (m) | (m) | | (m) | |(m) |(g/t)| |
|____________|_______|_______|_______|_____|______|____|_____|_______|
|HIGD160W5D2 |6490075|379685 |-53/085|1,080|1,125 | 45 | 1.1 |Helios |
| | | | | | | | | Bulk |
|____________|_______|_______|_______|_____|______|____|_____|_______|
| | | | incl: |1,100|1,106 | 6 | 3.4 |Helios |
| | | | | | | | | HG |
|____________|_______|_______|_______|_____|______|____|_____|_______|
|HIGD160W6D1 |6490075|379810 |-54/088|1,010|1,065 |54.5| 3.7 |Helios |
| | | | | | | | | Bulk |
|____________|_______|_______|_______|_____|______|____|_____|_______|
| | | | incl: |1,029|1,052 |23.3| 7.7 |Helios |
| | | | | | | | | HG |
|____________|_______|_______|_______|_____|______|____|_____|_______|
| HIGD160W8 |6490079|379598 |-59/100|1,059|1,122 |62.6| 2.0 |Helios |
| | | | | | | | | Bulk |
|____________|_______|_______|_______|_____|______|____|_____|_______|
| | | | incl: |1,101|1,116 |14.6| 3.9 |Helios |
| | | | | | | | | HG |
|____________|_______|_______|_______|_____|______|____|_____|_______|
| HIGD160W9 |6490080|379600 |-53/085|1,018|1,060 |42.5| 1.5 |Helios |
| | | | | | | | | Bulk |
|____________|_______|_______|_______|_____|______|____|_____|_______|
| | | | incl: |1,037|1,041 | 4 | 4.5 |Helios |
| | | | | | | | | HG |
|____________|_______|_______|_______|_____|______|____|_____|_______|
| HIGD160W10 |6490087|379538 |-55/095| 961 | 994 | 33 | 3.7 |Helios |
| | | | | | | | | Bulk |
|____________|_______|_______|_______|_____|______|____|_____|_______|
| | | | incl: | 975 | 988 | 13 | 5.5 |Helios |
| | | | | | | | | HG |
|____________|_______|_______|_______|_____|______|____|_____|_______|
|HIGD160W10D1|6490075|3795650|-50/081| 957 | 966 | 9 | 1.1 |Helios |
| | | | | | | | | Bulk |
|____________|_______|_______|_______|_____|______|____|_____|_______|
| | | | incl: | 957 | 959 | 2 | 3.5 |Helios |
| | | | | | | | | HG |
|____________|_______|_______|_______|_____|______|____|_____|_______|
Table 1: Summary of all significant drill intersections returned from
all holes drilled into the Helios Zone since April 2011. True width is
estimated at 50% on all surface drillhole intersections on Helios.
Figure 1: Trident Long Section showing location of surface drilling
extensions to the Trident system. The location of the current Trident
decline is highlighted in blue. The current extent of Helios (purple)
and Artemis (red) are show in comparison to Western Zone (blue) and
Athena (red).: http://files.newswire.ca/986/Figure1.pdf
Further drilling from surface recently commenced that is aimed at
testing the down-plunge position of Helios.
Higginsville Line of Lode Exploration
Aircore and Rotary Air Blast (RAB) drilling along the Higginsville Line
of Lode continued to test targets and define regolith anomalism over an
area of 7km by 3km on drill-spacing from 320m by 80m to 80m by 40m.
This program has generated several 0.5g/t Au regolith anomalies over
strike lengths of 200m to 400m that are being progressively followed up
with further drilling.
Gold deposits in the Higginsville area are predominantly hosted by a
particular gabbro rock unit. A 'framework drilling' program of deeper
diamond drillholes is being carried out with the aims of:
-- systematically building up knowledge of the stratigraphy and
structure to a depth of approximately 800m along the 6km-long
Higginsville Line of Lode; and
-- 'mapping' the prospective gabbro unit in 3D to enable at depth
to better target future drilling.
Framework drilling is being carried out on lines 800m apart and
comprising fences of scissor holes. This program will require
approximately 30,000m of drilling in 30 holes and take another nine
months to complete.
This systematic approach reflects the Company's assessment that another
major orebody similar to Trident is likely to be found beneath one of
the smaller gold deposits along the Higginsville Line of Lode that have
been mined via small open pits.
Other Higginsville Exploration
Regional exploration is being accelerated with the completion of more
than 44km of aircore drilling since March 2011 across Alacer's large
tenement holding at Higginsville. Drilling is targeting the
identification of anomalies at the scale of associated with the
Trident, Chalice or Frog's Leg orebodies.
Early stage drill testing of multiple targets in the Challenge region (~10 km southeast of the Higginsville processing plant), Nawock (~20km southeast) and Lake Cowan (~15km east) continued to return encouraging results. Aircore drilling
has generated several discrete 0.5g/t Au regolith anomalies that are
worthy of accelerated drill follow up.
RC drilling was completed at the Napoleon prospect at Lake Cowan and results indicate excellent potential for a
small open pit. Resource modelling is in progress prior to open pit
optimization studies.
South Kalgoorlie Operations Exploration
Recent exploration on the South Kalgoorlie Operations ('SKO') tenements
has been focused on testing for underground mining potential at HBJ and
Mount Marion West and open-pit mining potential at Shirl West.
HBJ Exploration
A twelve-hole drill program has commenced at HBJ to assist with the assessment of developing an underground mine within
this large gold resource. This program is targeting potential
high-grade zones below the southern end of the existing HBJ pit. This
area lies immediately to the south of an underground mine that produced
1.0 million tonnes at 6.4g/t Au for 207,000 ounces in the mid 1990's.
RC drilling identified gold mineralization in the oxide to transitional
zones in the planned cut-back to the northwest wall of the HBJ open
pit. Further drilling is in progress to assess the potential for this
area to provide additional oxide ore to the Jubilee processing plant.
Mt Martin
Alacer recently agreed to acquire the Mt Martin tenements from Australian Mines Limited for staged payments totaling
A$7.5 million. Located approximately 8km east of the HBJ pit and the
Jubilee processing plant, several mines on the Mt Martin tenements have
produced approximately 200,000 ounces of gold from intermittent mining
dating back to 1923.
In June 2010, ASX-listed Australian Mines Limited announced resources
for Mt Martin stated to be compliant with the JORC Code. Alacer is
undertaking studies and other work to:
-- commence open-pit mining of a portion of these resources; and
-- publish these resources in accordance with the NI43-101
Standard.
There is also potential for further open-pit and underground mining on
the Mt Martin tenements.
Mt Marion West Exploration
Located 18km west of the Jubilee processing plant, Mt Marion is an underground mine that produced approximately 650,000 ounces of
gold between 1997 and 2007. The Mt Marion West Lode was mined at a
depth of approximately 650m below surface. Alacer Gold completed a
drilling program testing the Mt. Marion West Lode closer to surface and final assay results have now been received.
Results have confirmed the extent of mineralization [over 600m vertical
extent up to 150m strike extent] in the Mt. Marion West Lode (see Table
2 and Figure 2). Interpretation of these results and resource modeling
has commenced.
_____________________________________________________________________
| Hole |North (m)| East (m) |Dip/Azi|Depth|From |To (m)|Int (m)|Grade|
| | Local |Local Grid| | (m) | (m) | | |(g/t)|
| | Grid | | | | | | | |
|_______|_________|__________|_______|_____|_____|______|_______|_____|
|MWDD006| 9982 | 8225 |-60/180| 252 |219.4|220.3 | 0.9 | 4.5 |
|_______|_________|__________|_______|_____|_____|______|_______|_____|
| | | | | | 223 | 224 | 1.0 | 2.1 |
|_______|_________|__________|_______|_____|_____|______|_______|_____|
|MWDD008| 10027 | 8249 |-60/180|275.6| 286 | 288 | 2.0 | 3.5 |
|_______|_________|__________|_______|_____|_____|______|_______|_____|
|MWDD010| 10030 | 8275 |-60/180| 300 | 281 | 289 | 8.0 | 5.0 |
|_______|_________|__________|_______|_____|_____|______|_______|_____|
|MWDD012| 10030 | 8300 |-60/180| 300 |285.8|288.7 | 2.9 | 5.7 |
|_______|_________|__________|_______|_____|_____|______|_______|_____|
|MWDD013| 10199 | 8202 |-60/180| 501 | 431 | 440 | 9.0 | 4.7 |
|_______|_________|__________|_______|_____|_____|______|_______|_____|
Table 2: Summary of significant drill intersections from all Mt Marion
West assays received since April 2011. Note that intersections in
MWDD007 and MWDD009 were disclosed in Alacer's Quarterly Activities
Report released on April 29, 2011. True width is estimated at 80-100%
of downhole width.
Figure 2. Long section showing existing underground mine infrastructure
at Mt Marion and the location of the five most recent drillhole assay
results from Mt Marion West: http://files.newswire.ca/986/Figure2.pdf
Shirl Exploration
Located near Coolgardie and 40km west of the Jubilee processing plant,
the Shirl-Barbara-Surprise 28 Complex ('SBS28 Complex') is a 3km-long
mineralized zone that has been sporadically mined under fragmented
ownership over the past 70 years. The various styles of gold
mineralization at the SBS28 Complex are indicative of a big system. The
controls on mineralization are becoming better understood as drilling
is progressively following up widespread, high-grade gold
mineralization defined by previous drilling and mining.
The Shirl open pit produced 63,000 ounces from August 2006 to January 2008. RC
drilling immediately to the northwest of the Shirl open pit area has
been completed on a 20m by 20m grid pattern with a total of 3,162m of
drilling completed in 42 holes.
Recent results at Shirl West have been extremely encouraging with several drillholes intersecting
shallow, thick, high-grade mineralization including:
-- 11m @ 5.5g/t Au from 20m in SHRC416
-- 25m @ 3.8g/t Au from 42m in SHRC425
-- 17m @ 6.6g/t Au from 35m in SHRC460
-- 5m @ 16.7g/t Au from 17m in SHRC461
-- 10m @ 11.4g/t Au from 13m in SHRC462
-- 17m @ 5.1g/t Au from 58m in SHRC464
Mineralization has been interpreted as a series of moderate to flat
dipping lodes up to 15m width over a strike length of 80m and dip
extent of 100m. Mineralization is visually associated with a
biotite-altered gabbro in fresh rock and remains open to the east and
at depth.
Infill drilling, resource modelling and open-pit optimization studies
are in progress. Shirl West has the potential to provide high-grade
oxide ore to the Jubilee processing plant and can be progressed into
production quickly as the deposit is located on freehold land with
relevant mining approvals already in place.
Figure 3. Plan projection showing the location of the Shirl West
drilling collars, colour coded by the gram x metres intersection within
the drillhole. The Shirl open pit lies immediately to the south of this
drilling (bottom of picture). Large circles refer to drilling since
April 2011 while smaller open circles refer to earlier drilling.: http://files.newswire.ca/986/Figure3.pdf
___________________________________________________________
| Hole | North | East |RL |Dip/Azi|Depth|From|To |Int|Grade|
| | (m) | (m) |(m)| | (m) |(m) |(m)|(m)|(g/t)|
|_______|_______|______|___|_______|_____|____|___|___|_____|
|SHRC412|6572667|333709|357|-60/231| 20 | 6 | 7 | 1 | 2.6 |
|_______|_______|______|___|_______|_____|____|___|___|_____|
|SHRC413|6572743|333675|357|-60/231| 60 | | | | NSI |
|_______|_______|______|___|_______|_____|____|___|___|_____|
|SHRC416|6572680|333725|357|-60/231| 40 | 6 |15 | 9 | 1.4 |
|_______|_______|______|___|_______|_____|____|___|___|_____|
| | | | | | | 20 |31 |11 | 5.5 |
|_______|_______|______|___|_______|_____|____|___|___|_____|
|SHRC418|6572755|333690|357|-60/231| 80 | 15 |17 | 2 | 0.8 |
|_______|_______|______|___|_______|_____|____|___|___|_____|
|SHRC420|6572767|333705|357|-60/231| 80 | | | | NSI |
|_______|_______|______|___|_______|_____|____|___|___|_____|
|SHRC422|6572736|333731|357|-60/231| 80 | 74 |80 | 6 | 3.8 |
|_______|_______|______|___|_______|_____|____|___|___|_____|
|SHRC424|6572780|333720|357|-60/231| 90 | | | | NSI |
|_______|_______|______|___|_______|_____|____|___|___|_____|
|SHRC425|6572749|333746|357|-60/231| 90 | 42 |67 |25 | 3.9 |
|_______|_______|______|___|_______|_____|____|___|___|_____|
| | | | | | | 88 |89 | 1 | 3.7 |
|_______|_______|______|___|_______|_____|____|___|___|_____|
|SHRC427|6572792|333736|357|-60/231| 100 | | | | NSI |
|_______|_______|______|___|_______|_____|____|___|___|_____|
|SHRC429|6572761|333761|357|-60/231| 100 | 58 |60 | 2 | 1.6 |
|_______|_______|______|___|_______|_____|____|___|___|_____|
|SHRC432|6572773|333777|357|-60/231| 110 | | | | NSI |
|_______|_______|______|___|_______|_____|____|___|___|_____|
|SHRC434|6572742|333801|356|-60/231| 110 | 73 |75 | 2 | 1.4 |
|_______|_______|______|___|_______|_____|____|___|___|_____|
|SHRC435|6572786|333792|357|-60/231| 120 | | | | NSI |
|_______|_______|______|___|_______|_____|____|___|___|_____|
|SHRC437|6572753|333815|356|-60/231| 120 | | | | NSI |
|_______|_______|______|___|_______|_____|____|___|___|_____|
|SHRC441|6572767|333680|357|-60/231| 60 | | | | NSI |
|_______|_______|______|___|_______|_____|____|___|___|_____|
|SHRC442|6572780|333696|357|-60/231| 80 | 88 |89 | 1 | 1.1 |
|_______|_______|______|___|_______|_____|____|___|___|_____|
|SHRC443|6572730|333786|356|-60/231| 110 | 68 |71 | 3 | 2.2 |
|_______|_______|______|___|_______|_____|____|___|___|_____|
|SHRC444|6572804|333751|357|-60/231| 110 | | | | NSI |
|_______|_______|______|___|_______|_____|____|___|___|_____|
|SHRC445|6572802|333780|357|-60/231| 120 | | | | NSI |
|_______|_______|______|___|_______|_____|____|___|___|_____|
|SHRC446|6572817|333767|357|-60/231| 120 | | | | NSI |
|_______|_______|______|___|_______|_____|____|___|___|_____|
|SHRC447|6572746|333652|357|-60/231| 20 | 14 |15 | 1 | 0.7 |
|_______|_______|______|___|_______|_____|____|___|___|_____|
|SHRC448|6572720|333646|357|-60/231| 20 | | | | NSI |
|_______|_______|______|___|_______|_____|____|___|___|_____|
|SHRC451|6572668|333679|357|-60/231| 20 | | | | NSI |
|_______|_______|______|___|_______|_____|____|___|___|_____|
|SHRC452|6572654|333692|357|-60/231| 20 | | | | NSI |
|_______|_______|______|___|_______|_____|____|___|___|_____|
|SHRC453|6572756|333665|357|-60/231| 40 | 15 |16 | 1 | 2.3 |
|_______|_______|______|___|_______|_____|____|___|___|_____|
|SHRC454|6572731|333661|357|-60/231| 20 | 13 |14 | 1 | 1.1 |
|_______|_______|______|___|_______|_____|____|___|___|_____|
|SHRC456|6572714|333672|357|-60/231| 20 | | | | NSI |
|_______|_______|______|___|_______|_____|____|___|___|_____|
|SHRC458|6572655|333723|357|-60/231| 20 | 28 |29 | 1 | 1.1 |
|_______|_______|______|___|_______|_____|____|___|___|_____|
|SHRC459|6572716|333697|357|-60/231| 40 | | | | NSI |
|_______|_______|______|___|_______|_____|____|___|___|_____|
|SHRC460|6572704|333729|357|-60/231| 60 | 35 |52 |17 | 6.6 |
|_______|_______|______|___|_______|_____|____|___|___|_____|
|SHRC461|6572693|333741|357|-60/231| 60 | 17 |22 | 5 |16.7 |
|_______|_______|______|___|_______|_____|____|___|___|_____|
|SHRC462|6572682|333753|356|-60/231| 60 | 13 |23 |10 |11.4 |
|_______|_______|______|___|_______|_____|____|___|___|_____|
|SHRC463|6572793|333711|357|-60/231| 90 | 61 |62 | 1 | 0.8 |
|_______|_______|______|___|_______|_____|____|___|___|_____|
|SHRC464|6572723|333746|357|-60/231| 80 | 44 |48 | 4 | 1.1 |
|_______|_______|______|___|_______|_____|____|___|___|_____|
| | | | | | | 58 |75 |17 | 5.1 |
|_______|_______|______|___|_______|_____|____|___|___|_____|
|SHRC465|6572704|333757|356|-60/231| 80 | 22 |27 | 5 | 0.8 |
|_______|_______|______|___|_______|_____|____|___|___|_____|
| | | | | | | 42 |48 | 6 | 1.0 |
|_______|_______|______|___|_______|_____|____|___|___|_____|
| | | | | | | 65 |67 | 2 | 1.3 |
|_______|_______|______|___|_______|_____|____|___|___|_____|
|SHRC466|6572679|333775|356|-60/231| 80 | 79 |80 | 1 | 1.1 |
|_______|_______|______|___|_______|_____|____|___|___|_____|
|SHRC467|6572764|333732|357|-60/231| 90 | 15 |18 | 3 | 1.6 |
|_______|_______|______|___|_______|_____|____|___|___|_____|
| | | | | | | 56 |58 | 2 | 1.8 |
|_______|_______|______|___|_______|_____|____|___|___|_____|
|SHRC468|6572718|333770|356|-60/231| 90 | 42 |44 | 2 | 5.4 |
|_______|_______|______|___|_______|_____|____|___|___|_____|
|SHRC469|6572716|333796|356|-60/231| 100 |144 |150| 6 | 1.6 |
|_______|_______|______|___|_______|_____|____|___|___|_____|
|SHRC470|6572827|333809|357|-60/231| 60 | 32 |33 | 1 | 4.2 |
|_______|_______|______|___|_______|_____|____|___|___|_____|
|SHRC471|6572724|333715|357|-60/231| 102 | 25 |27 | 2 |29.4 |
|_______|_______|______|___|_______|_____|____|___|___|_____|
| | | | | | |101 |102| 1 | 2.8 |
|_______|_______|______|___|_______|_____|____|___|___|_____|
|SHRC472|6572814|333667|357|-60/231| 80 | | | | NSI |
|_______|_______|______|___|_______|_____|____|___|___|_____|
|SHRC473|6572801|333652|358|-60/231| 60 | | | | NSI |
|_______|_______|______|___|_______|_____|____|___|___|_____|
|SHRC474|6572724|333711|357|-80/051| 50 | 32 |45 |13 | 1.6 |
|_______|_______|______|___|_______|_____|____|___|___|_____|
Table 3: Summary of Shirl West drill intersections received since April
2011. True width is estimated at 80-100% of downhole width.
About Alacer
Alacer is a leading intermediate gold company with operations in both
Australia and Turkey.
Australia
Alacer has three operating gold mines in Australia, namely the
Higginsville and South Kalgoorlie operations; and a 49% interest in the
Frog's Leg underground mine. The South Kalgoorlie operations and the
Frog's Leg interest were acquired following the successful takeover of
Dioro Exploration NL, which was completed in March 2010. The Australian
operations are targeting 280,000 ounces of gold in 2011.
Turkey
Alacer is recognized as a leader in exploration and development in
Turkey and, with the start-up of Çöpler, will soon be among Turkey's
leading gold producers. Çöpler is 95% owned by Alacer and 5% by Lidya
Mining (formerly known as Çalık Mining, see Anatolia News Release,
August 13, 2009). Initial plans at Çöpler are to produce approximately
1.42 million leachable ounces of gold at costs consistent with the
lower end of industry standards. 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. In addition, Alacer holds a
significant pipeline of prospective gold and base metal projects.
Alacer Gold currently has 278.0 million common shares issued and
outstanding, 297.1 million fully diluted.
Other Information
Technical Procedural Information
The information in this report which relates to Exploration Results and
the Mineral Resources is based on information compiled by Chris Newman,
a full time employee of Alacer Gold Corp. and who is a Member of the
Australasian Institute of Mining and Metallurgy and a Member of the
Australian Institute of Geoscientists. Mr Newman has sufficient
experience which is relevant to the style of mineralization and type of
deposit under consideration and to the activity which is being
undertaking to qualify as a Competent Person as defined in the 2004
Edition of the 'Australasian Code for Reporting of Exploration Results,
Mineral Resources and Ore Reserves' and a qualified person pursuant to
National Instrument NI 43-101 of the Canadian Securities
Administration. Mr Newman consents to the inclusion in the report of
the matters based on this information in the form and context in which
it appears.
Exploration and drilling results are reported as drilled thicknesses.
Reverse circulation cuttings were sampled on 1.0m intervals and core
was sampled at geologically selected intervals. Analysis of drill
samples were performed by ALS-Chemex in Vancouver, BC, Canada, for gold
by fire assay off a 30 gram charge with an AA finish. For these
samples, the gravimetric data were utilized in calculating gold
intersections. Quality Assurance/Quality Control included the insertion
and continual monitoring of numerous standards and blanks into the
sample stream, and the collection of duplicate samples at regular
intervals within each batch. Selected holes are also analyzed for a
33-element four acid ICP—AES. Drill composites were calculated using a
cut-off of 0.3 g/t Au.
Cautionary Statements
Certain statements contained in this report constitute forward-looking
information, future oriented financial information, or financial
outlooks (collectively 'forward-looking information') within the
meaning of Canadian securities laws. Forward-looking information may
relate to this report and other matters identified in Alacer's public
filings, Alacer's future outlook and anticipated events or results and,
in some cases, can be identified by terminology such as 'may', 'will',
'could', 'should', 'expect', 'plan', 'anticipate', 'believe', 'intend',
'estimate', 'projects', 'predict', 'potential', 'continue' or other
similar expressions concerning matters that are not historical facts
and include, but are not limited in any manner to, those with respect
to proposed exploration, communications with local stakeholders and
community relations, status of negotiations of joint ventures,
commodity prices, mineral resources, mineral reserves, realization of
mineral reserves, existence or realization of mineral resource
estimates, the timing and amount of future production, timing of
studies and analysis, the timing of construction of the proposed mines
and process facilities, capital and operating expenditures, economic
conditions, availability of sufficient financing, exploration plans and
any and all other timing, exploration, development, operational,
financial, economic, legal, social, regulatory and political factors
that may influence future events or conditions. Such forward-looking
statements are based on a number of material factors and assumptions,
including, but not limited in any manner, those disclosed in any other
Alacer filings, and include exploration results and the ability to
explore, the ultimate determination of mineral reserves, availability
and final receipt of required approvals, titles, licenses and permits,
sufficient working capital to develop and operate the mines, access to
adequate services and supplies, commodity prices, ability to meet
production targets, foreign currency exchange rates, interest rates,
access to capital markets and associated cost of funds, availability of
a qualified work force, ability to negotiate, finalize and execute
relevant agreements, lack of social opposition to the mines, lack of
legal challenges with respect to the property or the Company and the
ultimate ability to mine, process and sell mineral products on
economically favorable terms. While we consider these assumptions to be
reasonable based on information currently available to us, they may
prove to be incorrect. Actual results may vary from such
forward-looking information for a variety of reasons, including but not
limited to risks and uncertainties disclosed in other Alacer filings at
www.sedar.com and other unforeseen events or circumstances. Other than
as required by law, Alacer does not intend, and undertakes no
obligation to update any forward-looking information to reflect, among
other things, new information or future events.
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For further information on Alacer Gold, please contact:
Edward Dowling or Lisa Maestas - North America at 1-303-292-1299
Rohan Williams - Australia at 618-9226-0625
Roger Howe - Australia at 61-405-419-139