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Additional Information
Market: AIM
Sector: General Mining - Gold
EPIC: AAU
Latest Price: 4.50p  (-2.81% Descending)
52-week High: 6.88p
52-week Low: 3.63p
Market Cap: 11.71M
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Ariana Resources
www.arianaresources.com

Ariana is an AIM-listed and PLUS-traded gold exploration and development company which aims to develop new gold mines in Turkey. Ariana is lead by an experienced board and is spearheaded by a focused Turkish management team. Current resources stand at approximately 400,000 ounces of gold in western Turkey, with two key projects under development: the high-grade Kiziltepe prospect and the heap-leachable Tavsan prospect. An exploration joint venture with European Goldfields (20% shareholders in Ariana) in northeastern Turkey is focused on the Ardala copper-gold porphyry and surrounding areas. Ariana holds a large and prospective licence portfolio from which a pipeline of new exploration targets is being generated for drill-testing utilizing an ‘in-house’ drilling team. Exploration and development success is being delivered via a strategy which integrates geoscientific knowledge and new technologies to identify and advance prospects for drill-testing. Ariana aims to develop a portfolio of licences in western Turkey which contain an aggregate of one million ounces of gold; a target which it is already on the way to achieving.

Full Ariana Resources profile here
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New drilling results increase Ariana’s asset value by 20 pct - Edison Investment Research

3rd Aug 2010, 1:29 pm New drilling results increase Ariana’s asset value by 20 pct - Edison Investment Research

The latest drill results announced yesterday from Ariana Resources (LON:AAU) puts the value added to the group’s assets at an estimated £1 million, or 20 percent of Ariana’s market capitalisation of the immediately prior to the announcement, Edison Investment Research announced in a note.

“In per share terms, this equates to a 0.45p per share uplift on a share price of 2.25p,” it said.

Ariana was trading up 20 percent in early afternoon deals at 3p.

The Turkey focused gold miner said yesterday the latest drilling results from the Banu and Derya veins at its Red Rabbit project “confirmed the integrity” of the resource at the Kiziltepe prospect with mineralised quartz intersected in every hole for a flawless “hit-rate”. In addition to that, the company said that the gold and silver grades were “robust” and demonstrated economic potential.

Edison stated that “as a result of this drilling, we estimate that Ariana will be able to promote 14,975oz of gold in the Derya vein and 5,434oz from the Banu vein at least from the ‘inferred’ into the ‘indicated’ categories.”

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