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MINING ACTIVITIES UNIT undertakes mining activities via its subsidiaries Ege Madencilik San. Tic. A.S. and Akan Madencilik San. Tic. A.S. 
 GIRESUN PROJECT Akan Madencilik San. Tic. A.S. owns 5 exploration licenses and 1 operation license for Bulancak-Giresun site. Giresun-Bulancak mine is located in the middle volcanic province in north of Turkey. Exploration program is under progress. Operation works based on underground mining for Cu-Pb-Zn are developing and reserve estimation drilling will be implemented in 2012. The province has a high capacity for three major types of mineralization – porphyry-style copper-gold deposits, volcanic-hosted massive sulphides (“VHMS”) base metal deposits and both high-sulphidation and low-sulphidation epithermal gold-silver deposits. USAK-ESME PROJECT Ege Madencilik San. Tic. A.S. has 4 exploration licenses at Usak-Esme. The exploration program has been ongoing and the resource estimation drilling programme was completed. The areas has extensive sericitic-chloritic-carbonate K-Feldspar alteration occurring mainly in parallel to the schistosity plains of quartz-garnet-mica schists, which are probably the result of retrograde metamorphism and hematitic-limonitic-argillic+/- silicic alteration. |
