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Location: 6.4 km SE from Cayeli, Turkiye
Madenli Beldesi, 53200 MadenliCayeliTurkiye53200
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On March 12, 2026, First Quantum Minerals Ltd. announces that it has entered into a binding agreement to sell the Çayeli mine o Cengiz Insaat, a company controlled by Cengiz Holding.
The Transaction is subject to certain customary conditions and regulatory approvals and is expected to close during the second or third quarter of 2026.
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The main Çayeli mineralisation is located along the contact between a hanging wall of pyroclastics (tuffs) and basalts, and a footwall of rhyolite and felsic pyroclastic rocks. Hydrothermal alteration related to the formation of the deposit is restricted to the footwall stratigraphy and is in the form of clay (argillite) and chlorite.The Çayeli mineralisation is a typical example of a volcanogenic massive sulphide (VMS) style of deposit. VMS deposits form at or near the sea floor, where circulating hydrothermal fluids in association with submarine volcanism are quenched through mixing with sea water and or pore waters in near seafloor lithologies.As is typical with volcanogenic massive sulphide (VMS) deposits, the Çayeli mineralisation is zoned in terms of Cu and Zn tenor. The lower grade Cu stockwork volumes are located adjacent to massive sulphide zones with relatively minimal overlap. A similar pattern is evident in the Zn mineralisation, however, the proportion of Zn rich stockwork in either orebody is relatively small.The Çayeli mineralisation is characterised by two main styles, i.e., massive sulphides and associated stockwork mineralisation. The key economic elements are Cu and Zn and to a lesser degree Ag as a byproduct. The deposit is at the contact between altered footwall felsic volcanic flows and pyroclastic and hanging wall mafic volcanic rocks. It consists of massive and stockwork sulphides. The mineralization includes pyrite, chalcopyrite and sphalerite and smaller amounts of galena, dolomite and barite. The massive sulphide ore is classified into yellow ore, which is copper-rich and zinc-poor; black ore, which is zinc-rich and copper-poor; and clastic ore, which contains copper, zinc and precious metals. In this ore, the sphalerite contains intergrowths and inclusions of chalcopyrite and requires batch processing through the mill. Ore types which contain either secondary copper minerals or bornite are segregated and processed separately.
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