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Canada : Alacer Gold Announces Update On Sulfide Definitive Feasibility Study And Positive Sulfide Gold Reconciliation.

Alacer Gold Corp. announced an update on the sulfide Definitive Feasibility Study ( DFS ) and highlights positive gold reconciliation in the sulfide orebody. Mr. Rod Antal, Chief Executive Officer of Alacer, will host a conference call on Wednesday, March 12 at 5:30 p.m. (North America Eastern Daylight Time) and Thursday, March 13 at 8:30 a.m. (Australian Eastern Daylight Time) to discuss this release together with the full year financial results.

Rod Antal, Alacer s Chief Executive Officer, stated As we continue to deliver on our commitments, I am pleased to report we are on track to deliver the DFS for the 5,000 tonne per day whole?ore pressure oxidation processing facility in Q2 2014. An important element of this study will be to understand the significant positive sulfide gold reconciliations we have experienced since mining the 1.5 million tonnes of sulfide ore to December 31, 2013. We have seen this positive trend continue across all three pits and, as a result, recently began an extensive study to determine the factors contributing to this positive bias. While the outcomes of this study may have a positive impact on the DFS, it will not delay our DFS project schedule.

Alacer remains on track to deliver the sulfide DFS in Q2 2014. The design, engineering and procurement studies are nearing completion and will soon be subject to the Corporation s internal review. In addition, the supplemental Environmental Impact Assessment for the project contemplated in the DFS will be submitted during March 2014.

During 2013 more than 1.3 million tonnes of sulfide ore were added to stockpiles with an average gold grade of 4.94g/t. The grade of the sulfide ore mined is significantly higher than was predicted by the resource block models. In 2013 there has been a positive reconciliation of 39% on a contained ounce basis, composed of lower than expected tonnage and higher than expected gold grade. The positive sulfide gold reconciliation was initially encountered in the Manganese Pit where the majority of mining took place in 2013. During 2013, sulfide ore stockpiled from this pit totaled 0.8 million tonnes at 4.50g/t gold, a positive reconciliation of 36% on a contained ounce basis. In July 2013, the Corporation began initial steps to investigate why this positive bias was occurring in the Manganese Pit. The positive gold reconciliation continued as mining of sulfide ore progressed into the Main and Marble Pits towards the end of 2013. Sulfide ore stockpiled from the Main and Marble Pits in 2013 totaled 0.5 million tonnes at 5.57 g/t gold, a positive reconciliation of 41% on a contained ounce basis.

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Publication:Mena Report
Date:Mar 14, 2014
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