Ssr Mining Announces Positive Exploration Results at Copper Hill and Increases Ownership to 70%
News Release
1 Significant intervals reported at a nominal 0.2% copper cut-off and with a maximum 5 meters contiguous dilution. All
thicknesses are down hole length and true thicknesses are not known at this stage.
November 29, 2021
SSR MINING ANNOUNCES POSITIVE EXPLORATION RESULTS AT COPPER HILL AND
INCREASES OWNERSHIP TO 70%
Results Include 3.29% Cu Over 37.4 Meters and 3.03% Cu Over 31.5 Meters
DENVER – SSR Mining Inc. (NASDAQ/TSX: SSRM; ASX: SSR) (‘’SSR Mining’’ or the
“Company”) is pleased to announce 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 intercepts1 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 is pleased to announce that it has reached
an agreement to acquire an additi onal 20% ownership in Copper Hill from joint venture partner
Lidya Mining (the “Transaction”). 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.
Rod Antal, President and CEO said, “ Copper Hill is beginning to show real potential as a new
development project, particularly given the near-surface and high-grade mineralization. While still
early stage, t here is good potential to expand the footprint at Copper Hill as we step out
exploration drilling. Our exploration and development teams will accelerate the work on Copper
Hill, commencing with metallurgical test work and an expanded drilling program.”
Drilling at Copper Hill continue s to intersect copper sulfide mineralization (chalcopyrite) with
impressive grades. The oxide zone appears very narrow and constrained close to surface.
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Copper mineralization in the intercepts is considered “clean”, having low levels of other metals or
arsenic (<0.01% zinc and lead, with average <60 ppm arsenic levels), which is atypical for skarn-
type deposits and bodes well for future economic studies on the property. Drilling and technical
study activities are ongoing to determine the extent of mineralization, subject to drill permits and
weather. The target is open in all directions laterally and at depth and starts from the surface.
Figure 1. Location map of the Copper Hill copper prospect.
Prospect Overview
Copper Hill sits within the package of exploration leases known as Kazıkbeli . The Lidya Mining
Exploration team discovered Copper Hill and undertook the preliminary exploration activities on
behalf of the joint venture with SSR Mining (the “Joint Venture”). Site activities are now being
transitioned to the SSR Mining Exploration and Project Development teams. The prospect is
covered by porphyritic intermediate magmatic rocks, volcanic rock, and volcano-sedimentary rock
sequences. Skarn-type mineralization is composed of copper-iron occurrences developed within
the volcano- sedimentary rock sequences. The mineralization consists of coarse- grained
chalcopyrite, specular hematite, and magnetite with exotic copper such as malachite constrained
to the very narrow oxide zone. The skarn exposed on the surface is coincident with anomalous
alteration zones of CuOx, FeOx, and silicification (Figure 2).
Exploration activities were initiated in 2009 , consisting of surface sampling (rock and soil
sampling) and ground magnetics. To -date, 35 diamond drill holes, totaling 10,829 meters have
been completed. The northwest-southeast trending mineralized zone has been identified over a
strike length of at least 450 meters with a width of 180 meters and a depth extent of at least 200
meters. The mineralization is open in all directions (Figure 3).
SSR Mining will conduct further drilling to continue to define the overall size of the mineralization
and test the higher-grade zones. In addition, encouraging high-grade surface results at the north
and east will be the initial focus of further work in the upcoming exploration program.
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Figure 2. Simplified geology map of the Copper Hill target including alteration zones, magnetic anomaly,
surface geochemistry, and drill locations.
Figure 3. Conceptual NW-SE cross section along Copper Hill copper property.
* Drill Holes are reported previously in the press release entitled “ALACER GOLD REPORTS INITIAL DRILL RESULTS FROM THE
COPPER HILL COPPER EXPLORATION PROSPECT” April 22, 2020, Toronto: Alacer Gold Corp, which is available on
www.sedar.com and on www.asx.com.au.
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Drilling
The Joint Venture has drilled 35 diamond drill holes at Copper Hill between July 2018 and
September 2021, totaling 10,829m. The previously announced 8 holes (EKD01 – EKD08, totaling
3,181m) defined the initial area of mineralization. The extent of the drilling pattern of those holes
was constrained to areas previously permitted for drilling.
The 27 holes in this release total 7,648m of drilling and were completed between June and
September 2021 (EKD09 – EKD35). All drill holes are vertical with the exception of EKD-15, EKD-
21 and EKD -23 which were collared with a -60° dip and an azimuth of 120° . EKD-27 was
abandoned at 79.2 meters due to a rubble zone. EKD-27A was offset to the previous hole (EKD-
27).
In 2022, the Copper Hill property will be tested with an additional diamond drilling program in
attempt to expand known mineralization through the targeting of new high-grade zones laterally
and at depth.
Drill Highlights
Significant drill results are down hole length and include:
• EKD-14: 1.60% Cu over 30.1 meters from 65.7 meters and 0.38% Cu over 20.6 meters
from 136.8 meters.
• EKD-16: 3.29% Cu over 37.4 meters from 92 meters and 1.27% Cu over 8.6 meters from
135.4 meters and 0.33% Cu over 9 meters from 152 meters and 0.86% Cu over 16 meters
from 168 meters.
• EKD-26: 0.21% Cu over 7.2 meters from 93.3 meters and 1.02% Cu over 80.5 meters
from 123.5 meters.
• EKD-30: 1.39% Cu over 36 meters from 122 meters and 0.4% Cu over 11.5 meters from
168.5 meters and 0.53% Cu over 26.3 meters from 188.7 meters and 0.88% Cu over 27.7
meters from 221 meters.
• EKD-32: 1.25% Cu over 33.4 meters from surface and 0.84% Cu over 22.1 meters from
71.4 meters.
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Table 1. Significant copper intercepts from 2021 drilling at the Copper Hill Prospect.
Drill Hole From
(m)
To
(m)
Interval
(m)
Cu
(%) Oxidation State EOH Depth
(m)
EKD-09
0.00 18.60 18.60 0.59 Mixed
270.00
26.90 35.70 8.80 1.00 Mixed
44.70 75.20 30.50 2.02 Sulfide
145.90 161.80 15.90 0.79 Sulfide
169.80 179.75 9.95 0.26 Sulfide
186.90 196.10 9.20 0.81 Sulfide
214.40 225.20 10.80 0.42 Sulfide
EKD-10
0.00 13.30 13.30 0.33 Mixed
281.20 107.50 139.00 31.50 3.03 Sulfide
151.50 157.80 6.30 0.32 Sulfide
EKD-12
81.50 94.00 12.50 0.29 Sulfide
365.50
132.60 150.00 17.40 1.24 Sulfide
199.20 206.60 7.40 1.47 Sulfide
213.60 226.60 13.00 2.37 Sulfide
233.60 244.20 10.60 0.95 Sulfide
292.00 299.50 7.50 0.42 Sulfide
EKD-14 65.70 95.80 30.10 1.60 Sulfide 251.40 136.80 157.40 20.60 0.38 Sulfide
EKD-16
92.00 129.40 37.40 3.29 Sulfide
250.00 135.40 144.00 8.60 1.27 Sulfide
152.00 161.00 9.00 0.33 Sulfide
168.00 184.00 16.00 0.86 Sulfide
EKD-22 136.40 160.80 24.40 0.51 Sulfide 263.40 166.80 177.00 10.20 2.40 Sulfide
EKD-23
4.60 11.60 7.00 0.20 Mixed
380.00 24.30 44.50 20.20 1.11 Sulfide
330.60 337.90 7.30 0.32 Sulfide
EKD-25 2.50 34.70 32.20 0.71 Mixed 264.70
EKD-26 93.30 100.50 7.20 0.21 Sulfide 302.50 123.50 204.00 80.50 1.02 Sulfide
EKD-30
122.00 158.00 36.00 1.39 Sulfide
300.00 168.50 180.00 11.50 0.40 Sulfide
188.70 215.00 26.30 0.53 Sulfide
221.00 248.70 27.70 0.88 Sulfide
EKD-32 0.00 33.40 33.40 1.25 Mixed 235.40 71.40 93.50 22.10 0.84 Sulfide
Significant intervals reported at a nominal 0.2% copper cut-off and with a maximum 5 meters contiguous dilution are given in Table 1.
All thicknesses are down hole length and true thicknesses are not known at this stage.
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Sampling and Analytical Procedures
Drilling at Copper Hill commenced in 2018. Diamond drill core is sampled as half core at 1m
intervals. The samples were submitted to ALS Global laboratories in Izmir, Turkey for sample
preparation and analysis which is an ISO/IEC 7025:2005 certified and accredited laboratory. SGS
laboratory, Ankara and ArgeTest laboratory, Ankara are being used to umpire check sample
analysis. Copper was analyzed by four acid digestion and ICP -AES finish. For copper assays
greater than or equal to 10%, aqua regia digestion with ICP-AES finish is used. SSR Mining's drill
and geochemical samples were collected in accordance with accepted industry standards. SSR
Mining conducts routine QA/QC analysis on all assay results, including the systematic utilization
of certified reference materials, blanks, field duplicates and umpire laboratory check assays.
External review of data and processes relating to the prospect have been completed by
independent Consultant Dr. Erdem Yetkin, P.Geo. in November 2021. There were no adverse
material results detected and the QA/QC indicates the information collected is acceptable, and
the database can be used for further studies.
Qualified Persons
The exploration results disclosed in this document were prepared under the supervision and
approved by Dr. Cengiz Y. Demirci, AIPG Registered Member and a CPG (Certified Professional
Geologist), and VP Exploration at SSR Mining. Dr. Demirci has sufficient experience that is
relevant to the style of mineralization and ty pe of deposit under consideration and is a qualified
person pursuant to National Instrument 43-101 (“NI 43-101”).
External review of data and processes relating to the Copper Hill was completed in November
2021 by independent consultant Dr. Erdem Yetkin, P.Geo. a qualified person as defined by NI 43-
101. There were no adverse material results detected and Dr. Yetkin is of the opinion that the
QA/QC indicates the information collected is acceptable, and the database can be used for
announcing the exploration results.
About SSR Mining
SSR Mining Inc. is a leading, free cash flow focused intermediate gold company with four
producing assets located in the USA, Turkey, Canada, and Argentina, combined with a global
pipeline of high-quality development and exploration assets in the USA, Turkey, Mexico, Peru,
and Canada. In 2020, the four operating assets produced approximately 711,000 gold-equivalent
ounces. SSR Mining is listed under the ticker symbol SSRM on the NASDAQ and the TSX, and
SSR on the ASX.
SSR Mining Contacts
F. Edward Farid, Executive Vice President, Chief Corporate Development Officer
Alex Hunchak, Director, Corporate Development and Investor Relations
SSR Mining Inc.
E-Mail: [email protected]
Phone: +1 (416) 306-5789
To receive SSR Mining's news releases by e-mail, please register using the SSR Mining
website at www.ssrmining.com.
SOURCE: SSR Mining Inc.
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Cautionary Note Regarding Forward-Looking Information
Except for statements of historical fact relating to the Company, certain statements contained in this press release
constitute forward-looking information, future oriented financial information, or financial outlooks (collectively “forward-
looking information”) within the meaning of Canadian securities laws. Forward-looking information may be contained in
this document and the Company’s other public filings. Forward-looking information relates to statements concerning
the Company’s outlook and anticipated events or results and, in some cases, can be identified by terminology such as
“may”, “will”, “could”, “should”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “estimate”, “projects”, “predict”,
“potential”, “continue” or other similar expressions concerning matters that are not historical facts.
Forward-looking information in this press release is based on certain key expectations and assumptions made by the
Company. Although the Company believes that the expectations and assumptions on which such f orward-looking
information is based are reasonable, undue reliance should not be placed on the forward-looking information because
the Company can give no assurance that they will prove to be correct. Forward-looking information is subject to various
risks and uncertainties which could cause actual results and experience to differ materially from the anticipated results
or expectations expressed in this press release. The key risks and uncertainties include, but are not limited to: local
and global political and economic conditions; governmental and regulatory requirements and actions by governmental
authorities, including changes in government policy, government ownership requirements, changes in environmental,
tax and other laws or regulations and the interpretation thereof; developments with respect to COVID -19 pandemic,
including the duration, severity and scope of the pandemic and potential impacts on mining operations; and other risk
factors detailed from time to time in the Company’s reports filed with the Canadian securities regulatory authorities.
Forward-looking information in this press release include statements concerning, among other things: forecasts;
outlook; timing of production; production, cost, operating and capital expenditure guidance; the Company’s intention to
return excess attributable free cash flow to shareholders; the timing and implementation of the Company’s dividend
policy; the implementation of any share buyback program and the amount thereof; statements regarding plans or
expectations for the declaration of future dividends and the amount thereof; future cash costs and all in sustaining costs
(“AISC”) per ounce of gold, silver and other metals sold; the prices of gold, silver and other metals; Mineral Resources,
Mineral Reserves, realization of Mineral Reserves, and the existence or realization of Mineral Resource estimates; the
Company’s ability to discover new areas of mineralization; the timing and extent of capital investment at the Company’s
operations; the timing and extent of capitalized stripping at the Company’s operations; the timing of production and
production levels and the results of the Company’s exploration and development programs; current financial resources
being sufficient to carry out plans, commitments and business requirements for the next twelve months; movements in
commodity prices not impacting the value of any financial instruments; estimated production rates for gold, silver and
other metals produced by the Company; the estimated cost of sustaining capit al; availability of sufficient financing;
receipt of regulatory approvals; the timing of studies, announcements, and analysis; the timing of construction and
development of proposed mines and process facilities; ongoing or future development plans and capi tal replacement;
estimates of expected or anticipated economic returns from the Company’s mining projects, including future sales of
metals, concentrate or other products produced by the Company and the timing thereof; the Company’s plans and
expectations for its properties and operations; and all other timing, exploration, development, operational, financial,
budgetary, economic, legal, social, environmental, regulatory, and political matters that may influence or be influenced
by future events or conditions.
Such forward-looking information is based on a number of material factors and assumptions, including, but not limited
in any manner to, those disclosed in any other of the Company’s filings, and include: the inherent speculative nature of
exploration results; the ability to explore; communications with local stakeholders; maintaining community and
governmental relations; status of negotiations and potential transactions, including joint ventures; weather conditions
at the Company’s operations; commodit y prices; the ultimate determination of and realization of Mineral Reserves;
existence or realization of Mineral Resources; the development approach; availability and receipt of required approvals,
titles, licenses and permits; sufficient working capital t o develop and operate the mines and implement development
plans; access to adequate services and supplies; foreign currency exchange rates; interest rates; access to capital
markets and associated cost of funds; availability of a qualified work force; abil ity to negotiate, finalize, and execute
relevant agreements; lack of social opposition to the Company’s mines or facilities; lack of legal challenges with respect
to the Company’s properties; the timing and amount of future production; the ability to meet production, cost, and capital
expenditure targets; timing and ability to produce studies and analyses; capital and operating expenditures; economic
conditions; availability of sufficient financing; the ultimate ability to mine, process, and sell mineral pr oducts on
economically favorable terms; and any and all other timing, exploration, development, operational, financial, budgetary,
economic, legal, social, geopolitical, regulatory and political factors that may influence future events or conditions. While
the Company considers these factors and assumptions to be reasonable based on information currently available to
the Company, they may prove to be incorrect.
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The above list is not exhaustive of the factors that may affect any of the Company’s forward-lo oking information. You
should not place undue reliance on forward-looking information. Forward-looking information is only a prediction based
on the Company’s current expectations and the Company’s projections about future events. Actual results may vary
from such forward- looking information for a variety of reasons including, but not limited to, risks and uncertainties
disclosed in the Company’s filings on the Company’s website at www.ssrmining.com, on SEDAR at www.sedar.com,
on EDGAR at www.sec.gov and on the ASX at www.asx.com.au and other unforeseen events or circumstances. Other
than as required by law, the Company does not intend, and undertake no obligation to update any forward-looking
information to reflect, among other things, new information or future events.
All references to “$” in this press release are to U.S. dollars unless otherwise stated.