This is a massive sulfide deposit hosted in metamorphic schist units located in western Turkey in the Balikesir province. The upper portion of the deposit has been oxidized and contains gold and silver mineralization, and the bottom portion of the deposit is a sulfide zone contains a polymetallic orebody with economic values of copper, zinc, gold and silver.
The deposit will be extracted by conventional open-pit mining method with 11 years life of mine. Oxide ore will be treated by heap leach to produce gold & silver dore and sulfide ore will be floated to produce copper and zinc concentrates separately.
The deposit was discovered in 2013 by Lidya team under a joint venture, Polimetal Madencilik, with 50/50 Lidya/Alacer shareholding. The project was developed by Lidya under 50/50 arrangement with Alacer Gold until partners recently signed a deal to consolidate the project 100% under Lidya in return for oxide and sulfide NSR payments.
Following final permitting, Lidya plans to start the construction of the oxide plant to produce gold/silver while further studies continue on sulfide development.
Project site is in a favorable location with easy access to power, highways, seaports and airports with abundant workforce and mining activities in the region