The Aği Daği project is located in the Canakkale Province of western Türkiye and is an epithermal, high-sulphidation, disseminated gold system. Aği Daği has been designed as a 30,000 tpd open pit heap leach operation with a primary and secondary crushing circuit. Heap leaching will be applied to the crushed ore and then processed through an ADR plant where gold and silver doré will be produced. Annual production is expected to average 177,600 ounces of gold and 444,200 ounces of silver over five years, supported by a Proven and Probable Mineral Reserve of 54.4 million tonnes at 0.7 g/t gold and 5.4 g/t silver (as of Dec. 31, 2020).
Alamos received a positive decision on the Environmental Impact Assessment for Aği Daği and requires a land use permit, GSM permit and operation permit before mine construction can begin. Alamos expects a 36 month development timeline for the project but their current focus is on completing the permitting and development at the nearby Kirazli project. The objective is to utilize cash flows from Kirazli to help fund the development of Aği Daği.
Within 60 days of the commencement of commercial production at Aği Daği, Sandstorm will receive a production bonus of $6 million. The bonus is payable by Newmont Corporation who assumed the obligation when they acquired Fronteer Gold in 2011.Description
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