Lapseki Gold and Silver Mine

TÜMAD Mining Inc. is currently working on the Lapseki Gold and Silver Mine and Enrichment Project within the borders of the Şahinli and Kocabaşlar Villages of the Lapseki District in the city of Çanakkale. The construction phase of the Lapseki Project has been completed and the operation stage has kicked off in December 2017.

Gold and silver minerals are acquired from four pits (Karakovan, Karatepe, K-Zone and SBX pits) which will be processed by way of open pit blasting within the scope of the project. The produced ore is subject to enrichment by way of tank leach process and the final product is 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. The project has also been evaluated as having the best use of technology.

Feasibility of the project was prepared in accordance with NI-43-101 Canada standards. In the light of these works, 4 pits are planned to be opened within the scope of the project. Gold and silver grades per ton are 1,85 gr and 1,86 gr respectively. It is planned to carry out production with recovery ratios of 94, 91% for gold and 72, 35% for silver. It is predicted that a total of 7,15 million tons of ore, 60 million tons of tallow and 8,2 million tons of waste fill shall be produced within the scope of the Lapseki Project.

The construction of the Lapseki Project has been completed and it has started operation in December 2017. The economic life of the mine in this project is 10 years.