SSR Mining Inc announced positive results from an additional 27 diamond drill holes at Copper Hill for the period from June to September 2021. Copper Hill is located in the Black Sea region of northeast Turkey (Figure 1), and these results follow the initial 8 drill holes reported from the prospect in 2020. Recent intercepts of note from Copper Hill included:EKD-09: 2.02% Cu over 30.5 meters from 44.7 meters,EKD-10: 3.03% Cu over 31.5 meters from 107.5 meters,EKD-12: 2.37% Cu over 13.0 meters from 213.6 meters,EKD-14: 1.60% Cu over 30.1 meters from 65.7 meters,EKD-16: 3.29% Cu over 37.4 meters from 92.0 meters,EKD-26: 1.02% Cu over 80.5 meters from 123.5 meters,EKD-30: 1.39% Cu over 36.0 meters from 122.0 meters,EKD-32: 1.25% Cu over 33.4 meters from surface.Concurrent with this exploration update, SSR Mining announced that it has reached an agreement to acquire an additional 20% ownership in Copper Hill from joint venture partner Lidya Mining. Upon completion of the Transaction, SSR Mining will own 70% of the asset and serve as operator. As consideration for the increased ownership in Copper Hill, SSR Mining will transfer 20% of its ownership stake in the Tunçpınar prospect in east-central Turkey to Lidya Mining, reducing SSR Mining's ownership to 30% while retaining a new 0.5% net smelter return royalty on the property. Lidya Mining will serve as operator at Tunçpınar. There are no royalties existing on Copper Hill. The ownership swap will provide both SSR Mining and Lidya Mining with the ability to efficiently advance both the Copper Hill and Tunçpınar assets while retaining material economic exposure. The Transaction will be completed in early 2022, upon receipt of all customary regulatory approvals and satisfaction of completion of all closing conditions.
SSR Mining Inc announced positive results from an additional 27 diamond drill holes at Copper Hill for the period from June to September 2021. Copper Hill is located in the Black Sea region of northeast Turkey (Figure 1), and these results follow the initial 8 drill holes reported from the prospect in 2020. Recent intercepts of note from Copper Hill included:EKD-09: 2.02% Cu over 30.5 meters from 44.7 meters,EKD-10: 3.03% Cu over 31.5 meters from 107.5 meters,EKD-12: 2.37% Cu over 13.0 meters from 213.6 meters,EKD-14: 1.60% Cu over 30.1 meters from 65.7 meters,EKD-16: 3.29% Cu over 37.4 meters from 92.0 meters,EKD-26: 1.02% Cu over 80.5 meters from 123.5 meters,EKD-30: 1.39% Cu over 36.0 meters from 122.0 meters,EKD-32: 1.25% Cu over 33.4 meters from surface.Concurrent with this exploration update, SSR Mining announced that it has reached an agreement to acquire an additional 20% ownership in Copper Hill from joint venture partner Lidya Mining. Upon completion of the Transaction, SSR Mining will own 70% of the asset and serve as operator. As consideration for the increased ownership in Copper Hill, SSR Mining will transfer 20% of its ownership stake in the Tunçpınar prospect in east-central Turkey to Lidya Mining, reducing SSR Mining's ownership to 30% while retaining a new 0.5% net smelter return royalty on the property. Lidya Mining will serve as operator at Tunçpınar. There are no royalties existing on Copper Hill. The ownership swap will provide both SSR Mining and Lidya Mining with the ability to efficiently advance both the Copper Hill and Tunçpınar assets while retaining material economic exposure. The Transaction will be completed in early 2022, upon receipt of all customary regulatory approvals and satisfaction of completion of all closing conditions.
