RESERVE AND EXPECTATIONS

We are performing general reserve determination methodologies in accordance with international standards, and maintained digitally along with core data as necessary.

Computer supported Mine Design and 3D reserve programs that are widely used are the programs that complete tasks such as mine exploration, drilling, reserve determination, open and closed pit designs as well as geological cross-sectioning in few minutes.

We are carrying out R&D and reserve modelling which help accomplishment of the works rapidly thanks to our experienced work force and consultants as well as international methodologies, software and techniques. Underground geological surveys and drills are carried out/being carried out in-house using international ore determination programs. We are able to identify location and depth of ore structures, open pit stripping amount, total operating reserve calculations with high accuracy in 3D format. Thus, while such works take long time using analytical drawings and calculations, we are able to perform these verifications in much shorter time through our knowledge and experience within time limits.

EXPLORATION WORK

Upon transfer of the field to Timko Madencilik in year 2016, exploration works carried out in a more rational and planned manner. Geological surveys and underground drill works are assessed by our technical teams with a sound approach particularly at specific pits.

Prospection of all fields in 1/5000 scale detail are completed regularly in 2017 and onward, identifying chromium potential of the fields as well as expectation.

Approximately 10,000 m of exploration was completed by drilling works planned regularly on annual basis. Underground drill works are carried out by in-house teams using our own equipment, and surface drills are carried out by our engineering teams. Reserve determination methods conforming to international standards are used in these tasks. Therefore, both financing and reserve determinations are reliably assessed by 3rd persons.

Furthermore, geophysical research and development methodologies are used under supervision of our engineering teams for research and development of virgin territories, making contribution to drilling plans accordingly.

Surface Drills

Only indicated reserves of ore zones are identified in accordance with the international standards, and grade distributions are indicated on cross sections. There is no cut-off grade identified in calculation of identified reserves for CR ore formations that can be produced for factory and commercial purposes.

Multiple surface drills are being carried out at identified mostra tracks as well as locations identified by area excavations, and ore reserves are being identified from multi-dimensional aspect.

RESERVE TOTAL

All these efforts enabled identification of continuously growing and developing reserve quantities as well as work flows and production schedules of next 5 years, thus we are able to make a routine organization and production plan map based on sustainability principle.