The company is hoping to add another oxide ore source to its majority-owned Çöpler operations just over 5km away.

Alacer said mineralisation at Ardich remained open in all directions and initial metallurgical results indicated the oxide ores were suitable for heap leaching.

In parallel, work has started on the permitting process and a scoping study to examine options to expand heap leach capacity, Alacer said. 

Ardich is on Alacer's 80%-owned Anagold tenement.

The company lifted its 2018 oxide production outlook earlier this month and expects its sulphide operations to start up this quarter.

Alacer now expects to produce 110,000-130,000 ounces (up from 70,000-90,000oz) from its oxide plant and maintained guidance of 50,000-100,000oz for the sulphide plant this year.

Alacer shares reached a 52-week high both in Toronto yesterday, after rising C7c to $2.82, and in Australia this morning where they were trading at A$2.87 at the time of writing.