The Turkish mining company “Ermaden“ announced that it has discovered a gold deposit with reserves of over 420,000 ounces in the Sivas region of Central Turkey, reports “Türkiye“, BTA reported.
“As a result of the thorough and continuous drilling work carried out in the “Alaçahan” deposit near Sivas, “Ermaden“ has revealed a very valuable potential resource of 424,000 ounces of gold. "We consider this discovery to be the first and most important fruit of our correct strategy and purposeful work," said Murat Yalçıntaş, Chairman of the Board of Directors of Ermaden, in a statement.
At current gold prices - around $4,000 per ounce - the total value of gold in the Ermaden deposit is around $1.7 billion.