TORONTO, Oct. 5 /CNW/ - Anatolia Minerals Development Limited ("Anatolia" or the "Company") (TSX:ANO) announces mobilization of construction activities at the Çopler Gold Project in eastern central Turkey.
Construction activities commenced following an opening ceremony attended by numerous local residents, and community and regional leaders. Civil, mining and other major contractors were on site and started work shortly thereafter. Additional contractors, equipment and personnel are mobilizing.
Initial activities are focusing on critical path items. Excavation for the primary crusher foundation and heap leach pad preparatory work started approximately 10 days ago. Other earthworks projects underway include facility site earthworks, topsoil stripping and stockpiling, on-site access road construction, and site clearing for project offices and workshops. Most equipment components are on site and the remaining incoming equipment and materials are expected shortly. Prefabricated assay laboratory buildings are in position and pre-commissioning of the lab has started. Concrete form setting has started and the concrete batch plant is being mobilized. Construction power and water are available.
Edward Dowling, President and CEO of Anatolia stated, "We are pleased to achieve this milestone. This represents the hard work and collaborative efforts of many individuals. We appreciate the cooperation from the communities, local leaders, and government agencies. Initial work is progressing well."
Anatolia, recognized as a leader in exploration and development in Turkey, is developing Çopler. Initial plans are to produce approximately 1.3 million ounces of gold at a cash cost of about US$260 per ounce. The first gold pour at Çopler is expected in 2010 with full production of about 175,000 ounces of gold per year anticipated in 2011. Additional production expansion of the oxide and sulfide gold resource is expected at Çopler by taking advantage of the inherent large resource through on-going technical activities. In addition, Anatolia holds a significant pipeline of prospective gold and base metal projects.
Anatolia currently has 114.9 million common shares issued and outstanding, 133.5 million fully diluted. For more information please contact Edward Dowling, President and CEO, or Douglas Tobler, CFO at (303) 292-1299 or visit www.anatoliaminerals.com. Anatolia's common shares are listed for trading on the Toronto Stock Exchange under the symbol "ANO."
Certain statements contained in this news release 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 news release and other matters identified in Anatolia's public filings, Anatolia'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 commodity prices, mineral resources, mineral reserves, realization of mineral reserves, existence or realization of mineral resource estimates, the timing and amount of future production, the timing of construction of the proposed mine 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, 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 Anatolia filings, and include 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 proposed mine, access to adequate services and supplies, commodity prices, 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 mine, 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 Anatolia filings at www.sedar.com and other unforeseen events or circumstances. Other than as required by law, Anatolia does not intend, and undertakes no obligation to update any forward-looking information to reflect, among other things, new information or future events.
SOURCE Alacer Gold Corp.
For further information: For further information: please contact Edward Dowling, President and CEO, or Douglas Tobler, CFO at (303) 292-1299 or visit www.anatoliaminerals.com