İvrindi Gold and Silver Mine

TÜMAD Mining Inc. shall carry out Ivrindi Gold and Silver Ore and Enrichment Project within the borders of the Değirmenbaşı and Küçükılıca Quarters of the İvrindi District in the city of Balıkesir.

Gold and silver ore will be acquired from the 4 pits (Ballıktepe, Karteldere, Kabaktepe and Güney-Boyun pits) that will be drilled within the scope of the project. Mining will be carried out by way of open pit blasting method. The produced ore will be subject to enrichment by way of tank leach process and the final product shall be dore gold and silver.

The project is in accordance with the performance requirements put forth by the European Bank for Reconstruction and Development (EBRD). Documentation that is open to the public including Non-Technical Summary (NTS) is comprised of environmental impact assessments and the related management plans and frameworks. Feasibility of the project was prepared in accordance with NI-43-101 Canada standards. It is estimated that the pits have a total of 964.602 ons gold and 2.350.997 ons silver https://www.tumad.com.tr/wp-content/uploads/2017/10/tumad-capseki-cizim.jpg.  Gold and silver grades per ton are 0,67 gr and 1,62 gr respectively. It is predicted that a total of 45 million tons of ore, 101 million tons of tallow shall be produced within the scope of the Project.

Basic and detailed engineering works for the "İvrindi Gold and Silver Mine Project" have been completed and mobilization along with site preparation works and topsoil stripping have been started. The construction shall commence in April 2018 and will last about 1 year. The economic life of the mine in this project is 10 years. The life of the remaining mine will be designed with contributions from additional exploration activities that will be carried out in accordance with the mine plan. It is aimed to complete the investment in April 2019.