Alacer Announces Q2 Production Results

Alacer Gold Corp. (TSX:ASR) reported the 2012 second quarter production results for its mine operations in Turkey and Australia, including a total production of 106,226 ounces of gold.

As quoted in the press release:

Second Quarter 2012 Highlights

• Second quarter gold production totalled 106,226 ounces (attributable¹: 95,984 ounces) which was 6% more than the gold production of 100,290 ounces achieved in Q1 2012.
• Second quarter gold sold totalled 108,844 ounces (attributable: 97,615 ounces).
• Çöpler gold production for the quarter increased 15% to 51,212 ounces (attributable: 40,970 ounces) compared to Q1 2012, with ore production from the Marble and Main open pits ramping up following the relocation of the old Çöpler village.
• Higginsville gold production increased 6% to 35,227 ounces for the quarter compared to Q1 2012 as a result of increased plant throughput and ore sourced from three mines displacing the processing of low-grade ore stockpiles.
• Chalice underground mine development proceeded ahead of schedule, with the initial development ore from the Atlas Lode delivered to the Higginsville treatment plant on June 15, 2012.
• Alacer’s Board of Directors approved an exploration decline to access Higginsville’s high-grade Corona deposit and for exploratory drilling from underground.
• Gold production from South Kalgoorlie Operations (“SKO”) for the quarter decreased 12% to 19,787 ounces compared to Q1 2012, largely due to rain limiting haulage of ore to the Jubilee plant from both the Frog’s Leg underground mine and the Triumph open pit.

President and CEO of Alacer, Edward Dowling, commented:

Alacer’s gold production of 106,226 ounces for the second quarter was 6% more than the first quarter. Çöpler benefitted from the release of gold from ore stacked on the leach pads during the severe winter conditions in the first quarter. Higginsville’s gold production is expected to increase over the course of 2012 with Chalice ore production ramping up over the coming months.

Our guidance for 2012 gold production remains between 435,000 and 450,000 ounces on a 100% basis for the mines which we operate or 396,000 to 410,000 ounces on an attributable basis. We remain focused on controlling costs at all of our mines with asset optimization and equipment utilization initiatives already making a positive effect on plant throughput and mining of high-grade ore during the quarter.

Click here to read the full press release.