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Ariana Resources more bullish on Tavsan potential

Published: 07:38 22 Feb 2017 GMT

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Tavsan may have substantial upside believes Ariana

Ariana Resources plc (LON:AAU) is now regarding its Tavsan gold deposit in Turkey as more of a standalone heap leach mining operation after analysing the latest exploration programme.

Once seen as a potential satellite ore supplier to the newly built Kiziltepe mine, Tavsan would still share facilities with the neighbouring operation but is looking an extremely attractive low-cost and high-margin mining opportunity in its own right said Kerim Sener, Ariana’s managing director.

A scoping study in December indicated production of a potential 30,000 ounces a year of gold over four years at a cost of US$559-630/oz but drilling has identified sixteen possible targets to follow up.

Sener believes that finding further resources can enhance Tavsan’s numbers substantially.

“Our management resource target at Tavsan is 300,000 oz gold of which at least 200,000 oz gold is targeted to be accessible via open pit mining methods.

“This would result in an increase in potential mine life by a further c.3 years to a total life of c.7 years, producing at a rate of approximately 30,000 oz gold per annum.”

He added more work is need to fully explore the options, but at this stage  Tavsan is now seen as a semi-autonomous satellite operation to the Kiziltepe Mine. 

“It would share much of the management and operational infrastructure as Kiziltepe yet be developed as a heap-leach operation with possibly only the carbon elution and regeneration, electro-winning and gold room being shared between the two operations. 

“This would require limited additional capital expenditure at Kiziltepe, though substantially less than developing such facilities independently at Tavsan.”

Ariana Resources updates resource and reserve; realises long-term strategy

Joining Jonathan Jackson in the Proactive studio is Ariana Resources PLC (AIM:AAU) managing director Kerim Sener, who sits down to discuss the latest resource and reserve update for the Zenit Mining Operations in Western Türkiye. The update encompasses the Kiziltepe and Tavsan sectors, operated...

8 hours, 21 minutes ago