Yenipazar

Overview

The Yenipazar polymetallic VMS deposit in central Türkiye is currently owned and being advanced by CVK Madencilik. Elemental holds a net profits interest (NPI) royalty that is set at 6% until US$165 million gross sales proceeds of products are received by CVK, after which the NPI converts to a 10% interest. The Yenipazar Royalty was acquired in 2021 as part of the SSR royalty portfolio transaction.

The Yenipazar polymetallic VMS deposit was discovered in the late 1990’s by YAMAS, a predecessor of Alacer and SSR Mining. Aldridge Minerals Inc. formed a JV with Alacer in 2004 which led to Aldridge acquiring a 100% project equity interest, with Alacer retaining the royalties which are now held by Elemental. Through a series of transactions, CVK now owns a 70% interest in the Yenipazar project.

The Yenipazar deposit remains open along strike to north of the current mineral resource. Drillholes that tested this extension returned grades higher than the average grades reported for the project’s reserves, including a drillhole that intercepted 17 m averaging 6.13% Pb, 7.78% Zn, 1.06% Cu, 1.79 g/t Au, and 118 g/t Ag. Significant exploration upside remains elsewhere on the property, as 90% of the land position is unexplored. There are at least 11 other occurrences on the property, at least one of which is coincident with historical geophysical anomalies.

Aldridge disclosed a historical feasibility study in 2013, which was updated in 2014 and filed on SEDAR.