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Turkiye
Halilaga Project

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 Location:
40 km SE from Canakkale, Turkiye

  Project Contacts:
Filistin Cad. Kader Sok. No:36
Ankara
Turkiye
06700
Phone  ...  Subscription required
Fax+90-(312)-468-11-80
EmailEmail
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Fleet
  • Personnel
  • Filings & News

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Overview

StagePreliminary Economic Assessment
Mine TypeOpen Pit
Commodities
  • Copper
  • Gold
  • Molybdenum
Mining Method
  • Truck & Shovel / Loader
Mine Life14 years (as of Jan 1, 2015)


Owners

Source:
CompanyInterestOwnership
Cengiz Holdings A.S. 100 % Indirect
On August 12, 2020 Liberty Gold closed the sale of its interest in the Halilaga porphyry copper-gold deposit to Cengiz Holdings A.S. (“Cengiz”) pursuant to a definitive agreement signed on July 12, 2019 (the “Halilaga Agreement’). Liberty Gold interest in Halilaga was held through a 40% shareholding in Truva Bakir Maden Isletmeleri A.S. ("Truva Bakir"). TMST held the remaining 60% of this Turkish entity. Pursuant to the terms of the Halilaga Agreement, the Company and TMST agreed to jointly sell their 100% interest in Truva Bakir to Cengiz for $55 million cash. As a result of the Transaction, Liberty Gold will receive a total of US$22 million.

Contractors

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Deposit Type

  • Porphyry
  • Epithermal


Summary:

Halilaga is classified as a copper-gold porphyry system. Advanced argillic alteration and gold mineralization at Kunk Hill and Pirentepe are classified as high sulphidation epithermal mineralization. Copper mineralization in the Bakirlik Tepe area is classified as proximal copper skarn. All three types are related to magmatic-hydrothermal activity associated with intrusion of the Kestane porphyry stock and other intrusions in the area.

The geology of Halilaga is characterized by various lithological associations made up of: (1) Paleozoic and early Mesozoic basement metamorphic rocks; (2) Permian and Mesozoic sedimentary and ophiolitic rocks; (3) Tertiary volcanic and intrusive rocks; and (4) Neogene sedimentary rocks. Older rocks are affected by several collisional orogenic events. Tertiary rocks record mainly brittle extensional and transtensional deformation.

The property is located in a district with significant potential for both porphyry copper-gold and high-sulphidation-style gold deposits. Investigation of geological relationships in the field along with geochemical and geochronological data suggest that magmatic activity began with the intrusion of granitoids, coeval with an early phase of volcanic activity, and was superseded by a second phase of volcanism. The mineralized intrusives are thought to be part of a suite of 26 to 38 million year old (Ma) quartz monzonites and granodiorites.

The Halilaga district is mainly underlain by Ol ........


Mining Methods

  • Truck & Shovel / Loader


Summary:

250 mm diameter blast hole drills are planned to perform the bulk of the production drilling in the mine (both mineralized and waste rock). The hydraulic drill with a 115 mm diameter bit would be used for secondary blasting requirements and may be used on the tighter spaced patterns required for pit development blasts. The main loading and haulage fleet is planned to consist of 40 t haul trucks, loaded primarily with the diesel powered 7 m3 front shovels or the 7 m3 wheel loader, depending on pit conditions.

As pit conditions dictate, the D9-class dozers are planned to rip and push material to the excavators and maintaining the waste dump.

The additional equipment is planned to be used to maintain and build access roads and to meet various site facility requirements, including stockpile maintenance and further exploration development.


Crushing and Grinding
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Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.


Projected Production:

CommodityProductUnitsLOM
Copper Payable metal M lbs 779
Copper Concentrate kt 1,228
Gold Payable metal koz  ......  Subscription required

Operational Metrics:

Metrics
Stripping / waste ratio 1.3 *
Daily mining rate 57,793 t *
Waste tonnes, LOM 158 Mt *
Ore tonnes mined, LOM 124.3 Mt *
Total tonnes mined, LOM 282 Mt *
Daily processing rate 25,000 t *
Tonnes processed, LOM 124 Mt *
Annual processing rate 9,125,000 t *
* According to 2015 study.

Reserves at July 7, 2013:
A gold equivalent cut-off of 0.43 g/t.

CategoryTonnage CommodityGradeContained Metal
Indicated 182.7 Mt Copper 0.27 %
Indicated 182.7 Mt Gold 0.3 g/t
Indicated 182.7 Mt Molybdenum 0.0057 %
Indicated 182.7 Mt Gold Equivalent 0.9 g/t 5,287 koz
Inferred 178.7 Mt Copper 0.23 %
Inferred 178.7 Mt Gold 0.24 g/t
Inferred 178.7 Mt Molybdenum 0.0087 %
Inferred 178.7 Mt Gold Equivalent 0.77 g/t 4,431 koz

Commodity Production Costs:

CommodityUnitsAverage
Cash costs Copper USD 2.5 / lb *  
Cash costs Copper USD 1.08 / lb *†  
Total cash costs Copper USD 2.78 / lb *  
Total cash costs Copper USD 1.35 / lb *†  
Assumed price Molybdenum USD 12.5 / lb *  
Pre-tax break-even price Copper USD 1.83 / lb *  
Assumed price Copper USD 2.9 / lb *  
Assumed price Gold USD 1,200 / oz *  
* According to 2015 study / presentation.
† Net of By-Product.

Operating Costs:

Units2015
OP mining costs ($/t mined) USD 1.79 *
OP mining costs ($/t milled) USD  ......  Subscription required
Processing costs ($/t milled) USD  ......  Subscription required
Total operating costs ($/t milled) USD  ......  Subscription required
* According to 2015 study.
Subscription required - Subscription is required.

2015 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Pre-Production capital costs $M USD  ......  Subscription required
Sustaining CapEx $M USD  ......  Subscription required
Closure costs $M USD  ......  Subscription required
Total CapEx $M USD  ......  Subscription required
OP OpEx $M USD  ......  Subscription required
Processing OpEx $M USD 1,038
G&A costs $M USD 86.6
Total OpEx $M USD  ......  Subscription required
Total Taxes $M USD  ......  Subscription required
Royalty payments $M USD  ......  Subscription required
Net Operating Income (LOM) $M USD  ......  Subscription required
Pre-tax Cash Flow (LOM) $M USD  ......  Subscription required
Pre-tax NPV @ 7% $M USD  ......  Subscription required
After-tax NPV @ 7% $M USD  ......  Subscription required
Pre-tax IRR, %  ......  Subscription required
After-tax IRR, %  ......  Subscription required
Pre-tax payback period, years  ......  Subscription required
After-tax payback period, years  ......  Subscription required
Subscription required - Subscription is required.


Proposed Heavy Mobile Equipment as of December 20, 2014:
HME TypeModelSizeQuantity
Crane 80 t ....................... Subscription required
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Staff:

Total WorkforceYear
Subscription required 2015

Corporate Filings & Presentations:

DocumentYear
................................... Subscription required 2020
Preliminary Economic Assessment 2015
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