Ssr Mining Announces Exploration Results ON the IN-Pit Copper-GOLD Porphyry C2 Target at Çöpler Intercept of 0.74% Copper Equivalent 1 over 241.5 Meters, Including 1.77% Copper Equivalent 1 over 32 Meters Directly Below Çöpler Main Pit
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November 25, 2020
SSR MINING ANNOUNCES EXPLORATION RESULTS ON THE IN-PIT
COPPER-GOLD PORPHYRY C2 TARGET AT ÇÖPLER
INTERCEPT OF 0.74% COPPER EQUIVALENT 1 OVER 241.5 METERS, INCLUDING 1.77%
COPPER EQUIVALENT 1 OVER 32 METERS DIRECTLY BELOW ÇÖPLER MAIN PIT
DENVER, CO – SSR Mining Inc. (NASDAQ/TSX: SSRM; ASX: SSR) (“SSR Mining”) is pleased
to announce positive results from the diamond drilling program for the Çöpler copper -gold
porphyry target (“C2”). The C2 target sits directly below the Çöpler Main pit, which is currently in
production. Four diamond drill holes were completed along a line of approximately 730 meters,
with all holes intersecting gold-rich copper porphyry mineralization. Chalcopyrite is visible in th e
drill core with mineralization starting at or close to the bottom of the ultimate Çöpler Main pit.
The four diamond drill holes had intercepts including:
CDD955 returned 0.74% CuEq over 241.5 meters from 37 meters, including 1.77% CuEq
over 32 meters from 96.2 meters, 1.92% CuEq over 17.4 meters from 136.2 meters, and
0.42% CuEq over 166.2 meters from 287.5 meters.
CDD935 returned 0. 86% CuEq over 108.6 meters from 103.1 meters, including 1.19%
CuEq over 8.6 meters from 146.3 meters, 1.40% CuEq over 23.6 meters from 161 meters,
and 1.36% CuEq over 5.3 meters from 199 meters.
Rod Antal, President and CEO said, “The C2 results are another example of the long- term
potential of Çöpler. It has long been contemplated that there are copper -gold porphyries
associated with the Çöpler mineralization and recent in- pit exploration mapping identified
mineralization and structures pointing to the possibility of a porphyry. Drilling began mid-year with
the first four holes all returning long mineralized intercepts. While we are in the early stage for this
exploration target, we are excited by the potential of C2 for a large volume and higher-grade zone
close to what will be the ultimate bottom of the Çöpler Main pit. Drilling is continuing wit h three
drills exploring the extent of the mineralization while we also start metallurgical test work
programs. C2 is another excellent example of our organic growth opportunities.”
1 Copper equivalent calculated as CuEq = [Cu ppm + ((Au ppm*Au price(g) / Cu price(g)) /10000)]. Based upon metal prices of
$1,750/oz gold and $3.00 /pound copper with recovery assumed to be 100% as no metallurgical test data is available. CuEq will
change proportionally to the metal’s relative recoveries once metallurgical test work is complete. Intervals reported are sections with
more than 0.2%CuEq (and a minimum 0.1%Cu) and less than of 5 meters contiguous dilution.
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Mineralization Style
The C2 target lies within the Main p it of the Çöpler mine (Figure 1). Çöpler is currently mining
sulfide gold ore, hosted mainly in hornfels, in the Main pit. Some of the newly discovered porphyry
intrusive has been exposed in parts of the lower benches (Figure 2 ). The porphyry has well -
developed stockwork and sheeted sulfide-quartz veins. Where exposed in the pit benches, these
veins are locally overprinted by thicker quartz-sericite-sulfide veins. The mineralized intrusive was
subjected to potassic alteration that is c haracterized by development of K -Feldspar, secondary
biotite, quartz and magnetite as veins and as replacement of earlier rock forming minerals.
Potassic alteration is overprinted by a supergene clay alteration and locally overprinted by chlorite
and sericite. The copper mineralization is predominantly chalcopyrite formed as disseminations
in the matrix and as thin veins associated with quartz accompanied with rare molybdenite
mineralization. There is elevated arsenic i n some zones, but this does not seem t o be directly
correlated to the copper mineralization. The gold mineralization is not visible.
Drilling
Between June 2020 and September 2020, SSR Mining drilled four diamond core holes totaling
1,882.5 meters (Figure 3), designed to test the C2 target. The holes are located in the Main p it,
all within 80% owned and managed license 2. All drilling used either HQ (63.5 millimeters in
diameter) or PQ (85 millimeters in diameter) core sizes. Currently there are three drills at the C2
target. The exploration drilling is, at times, restricted by mining activities within the pit.
Significant results are down hole length and include:
CDD935 returned 0. 86% CuEq over 108.6 meters from 103.1 meters, including 1.19%
CuEq over 8.6 meters from 146.3 meters, 1.40% CuEq over 23.6 meters from 161 meters,
and 1.36% CuEq over 5.3 meters from 199 meters.
CDD940 returned 0.71% CuEq over 81.5 meters from 271.2 meters, including 1.29%
CuEq over 10.8 meters from 274.2 meters, 1.28% CuEq over 5.7 meters from 308.5
meters, 1.30% CuEq over 9 meters from 327.6 meters, and 0.34% CuEq over 74.7 meters
from 359.7 meters.
CDD947 returned 1.14% CuEq over 49.6 meters from 156.9 meters, including 1.06%
CuEq over 10.0 meters from 162.3 meters, 1.29% CuEq over 6.7 meters from 181.0
meters, 2.82% CuEq over 9.8 meters from 194.7 meters, 1.20% CuEq over 18.4 meters
from 237.8 meters, and 0.30% CuEq over 127.7 meters from 303.3 meters.
CDD955 returned 0.74% CuEq over 241.5 meters from 37 meters, including 1.77% CuEq
over 32 meters from 96.2 meters, 1.92% CuEq over 17.4 meters from 136.2 meters, and
0.42% CuEq over 166.2 meters from 287.5 meters.
Table 1 presents significant mineralized drill hole intercepts . To view the complete drill assay
results and further technical information relating to this news release, please visit SSR Mining’s
website at www.ssrmining.com.
2 The Çöpler gold mine is owned and operated by Anagold Madencilik Sanayi ve Ticaret Anonim Şirketi (Anagold). SSR Mining
controls 80% of the shares of Anagold, Lidya Madencilik Sanayi ve Ticaret A.Ş. (Lidya), controls the remaining 20%.
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Figure 1. Location map of the C2 target.
Figure 2. Mining operations exposed the top of the porphyry system. The copper -gold
mineralization is hosted in a tonalite porphyry that was subjected to intense potassic alteration
that is characterized by development of combination of quartz, secondary biotite, magnetite and
K-felspar veins with pyrite, chalcopyrite and molybdenite. These veins are crosscut by late
anhydrite veins.
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Figure 3. Distribution of gold and copper in exploration holes.
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Table 1. Significant mineralized drill hole CuEq3 intercepts at the C2 target.
Hole ID From
(meters)
To
(meters)
Interval
(meters)
Cu
(%)
Gold
(g/t)
CuEq
(%)
Depth
(meters)
CDD935
2.00 32.80 30.80 0.15 0.34 0.44
449.1
38.80 76.10 37.30 0.14 0.27 0.38
84.10 89.10 5.00 0.16 0.41 0.51
103.10 211.70 108.60 0.26 0.70 0.86
(including) 146.30 154.90 8.60 0.39 0.95 1.19
(including) 161.00 184.60 23.60 0.42 1.10 1.40
(including) 199.00 204.30 5.30 0.39 1.13 1.36
224.7 230.6 5.9 0.11 0.22 0.30
CDD940
9.5 17.2 7.7 0.13 0.11 0.22
470.4
105.40 127.10 21.70 0.10 0.28 0.34
152.30 157.30 5.00 0.11 0.16 0.24
168.30 188.30 20.00 0.12 0.18 0.27
233.60 260.00 26.40 0.10 0.54 0.56
271.20 352.70 81.50 0.16 0.64 0.71
(including) 274.20 285.00 10.80 0.18 1.30 1.29
(including) 308.50 314.20 5.70 0.27 1.18 1.28
(including) 327.60 336.60 9.00 0.16 1.34 1.30
359.70 434.40 74.7 0.13 0.25 0.34
451.90 458.90 7.00 0.14 0.19 0.30
CDD947 107.30 143.40 36.10 0.11 0.12 0.21
434.3
156.90 206.50 49.60 0.23 1.06 1.14
(including) 162.30 172.30 10.00 0.27 0.92 1.06
(including) 181.00 187.70 6.70 0.10 1.41 1.29
(including) 194.70 204.50 9.80 0.52 2.70 2.82
213.50 228.30 14.80 0.10 0.90 0.87
237.80 256.20 18.40 0.10 1.28 1.20
262.80 271.80 9.00 0.17 0.14 0.30
279.80 290.00 10.20 0.23 0.14 0.35
303.30 431.00 127.70 0.16 0.16 0.30
CDD955 9.50 28.50 19.00 0.14 0.22 0.33
528.7
37.00 278.50 241.50 0.25 0.58 0.74
(including) 96.20 128.20 32.00 0.46 1.54 1.77
(including) 136.20 153.60 17.40 0.54 1.62 1.92
287.50 453.70 166.20 0.17 0.28 0.42
467.80 507.00 39.20 0.10 0.19 0.26
520.00 528.70 8.70 0.10 0.25 0.31
3 Copper equivalent calculated as CuEq = [Cu ppm + ((Au ppm*Au price(g) / Cu price(g)) /10000)]. Based upon metal prices of
$1,750/oz gold and $3.00 /pound copper with recovery assumed to be 100% as no metallurgical test data is available. CuEq will
change proportionally to the metal’s relative recoveries once metallurgical test work is complete. Intervals reported are sections with
more than 0.2%CuEq (and a minimum 0.1%Cu) and less than of 5 meters contiguous dilution.
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Sampling and Analytical Procedures
The C2 drilling program started in 2020. Diamond drill core is sampled as half core at 1m intervals
or geological contacts. Sampling interval varies between 0.6 meters and 2 meters with an average
of 1.02 meters length. The samples were submitted to ALS Global laboratories in Izmir, Turkey
for sample preparation and analysis which is of an ISO/IEC 7025:2005 certified and accredited
laboratory. Bureau Veritas (Acme) laboratory, Ankara was used for umpire check sample
analysis. Gold was analyzed by fire assay with an AAS finish, and the multi -element analyses
were determined by four acid digestion and ICP-AES and MS finish. For gold assays greater than
or equal to 10 g/t, the fire assay process is repeated with a gravimetric finish for coarse gold. If
copper assays are greater than or equal to 10,000ppm, fou r acid digestion and ICP finish (Cu-
OG62) is implemented. The 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 C2 have been
completed by independent consultant Dr. Erdem Yetkin, P.Geo. in November 2020. There were
no adv erse material results detected and the QA/QC indicates the information collected is
acceptable, and the database can be used for further studies.
No metallurgical work has been completed to date on C2 samples . The process of compositing
samples for the initial metallurgical test work program has begun.
Qualified Persons
The exploration results disclosed in this document w ere 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 type of deposit under consideration and is a qualified
person pursuant to National Instrument 43-101 (“NI 43-101”).
The information in this document which relates to C2 exploration results is based on, and fairly
represents, information and supporting documentation prepared by Dr. Mesut Soylu, P.Geo.,
Eurgeol, who is a Chief Geologist at SSR Mining. Dr. Soylu has sufficient experience which is
relevant to the style of mineralization and type of deposit under consideration and is a qualified
person pursuant to NI 43-101. Dr. Soylu consents to the inclusion in this document of the matters
based on this information in the form and context in which it appears.
External review of data and processes relating to the C2 target was completed in November 2020
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 I nc. 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 2019, the four operating assets produced over 720,000 ounces of gold and 7.7
million ounces of silver.
SSR Mining’s diversified asset portfolio is comprised of high margin, long-life assets along several
of the world’s most prolific precious metal districts including the Çöpler mine along the Tethyan
belt in Turkey; the Marigold mine along the Battle Mountain- Eureka trend in Nevada, USA; the
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Seabee mine along the Trans -Hudson Corridor in Saskatchewan, Canada; and the Puna mine
along the Bolivian silver belt in Jujuy, Argentina. SSR Mining has an experienced leadership team
with a proven track record of value creation. Across SSR Mining, the team has expertise in project
construction, mining (open pit and underground), and processing (pressure oxidation, heap leach,
and flotation), with a strong commitment to health, safety and environmental management.
SSR Mining intends to leverage its strong balance sheet and proven track record of free cash flow
generation as foundations to organically fund growth across the portfolio and to facilitate superior
returns to shareholders.
SSR Mining is listed under the ticker symbol SSRM on the NASDAQ and the TSX, and SSR on
the ASX.
SOURCE: SSR Mining Inc.
SSR Mining Contacts
F. Edward Farid, Executive Vice President, Chief Corporate Development Officer
Michael McDonald, Director, Corporate Development & Investor Relations
SSR Mining Inc.
E-Mail: [email protected]
Phone: +1 (888) 338-0046 or +1 (604) 689-3846
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Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking information within the meaning of Canadian securities laws and forward-
looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 (collectively,
“forward-looking statements”). All statements, other than statements of historical fact, are forward-looking statements.
Generally, forward-looking statements can be identified by the use of words or phrases such as “expects,” “anticipates,”
“plans,” “projects,” “estimates,” “assumes,” “intends,” “strategy,” “objectives,” “potential,” “believes,” or variations
thereof, or stating that certain actions, events or results “may,” “could,” “would,” “might” or “will” be taken, occur or be
achieved, or the negative of any of these terms or similar expressions. The forward-looking statements in this news
release relate to, among other things: preliminary cost reporting in this document; production, cost, and capital
expenditure guidance; the ability to expand the current heap leach pad; development plans for processing sulfide ore
at Çöpler; the results of any gold reconciliations; the ability to discover additional oxide gold ore; the generation of free
cash flow and payment of dividends; matters relating to proposed exploration; communications with local stakeholders;
maintaining community and government relations; negotiations of j oint ventures; negotiation and completion of
transactions; commodity prices; mineral resources, mineral reserves, realization of mineral reserves, and the existence
or realization of mineral resource estimates; the development approach; the timing and amount of future production;
the timing of studies, announcements, and analysis; the timing of construction and development of proposed mines
and process facilities; capital and operating expenditures; economic conditions; the outbreak of pandemics, epidemics
or other health crises (including, without limitation, the COVID -19 pandemic); availability of sufficient financing;
exploration plans; receipt of regulatory approvals; and any 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 and statements are based on a number of material factors and assumptions,
including, but not limited to, those disclosed in any other of SSR Mining’s filings, the inherent speculative nature of
exploration results; the ability to explore; communications with local stakeholders; maintaining community and
governmental relations; status of negotiations of joint ventures; weather conditions at our operations; commodity 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 to 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
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a qualified work force; ability to negotiate, finalize, and execute relevant agreements; lack of social opposition to the
mines or facilities; lack of legal challenges with respect to our property; 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 products 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 we consider these factors and assumptions to be reasonable based
on information currently available to us, they may prove to be incorrect.
You should not place undue reliance on forward-looking information and statements. Forward-looking information and
statements are only predictions based on our current expectations and our 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 SSR Mining’s filings on SSR our website at www. ssrmining.com, on SEDAR at
www.sedar.com, the EDGAR section of the SEC website 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, SSR Mining does not intend, and undertakes
no obligation to update any forward-looking information to reflect, among other things, new information or future events.