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Ariana Resources announces big increase in resource estimate for the Kepez prospect

Kepez is part of the Red Rabbit joint venture with Proccea Construction and is 50% owned by Ariana through its shareholding in Zenit Madencilik San
Geologist
Veins in the Kepez project are predominantly north trending and bifurcating low sulphidation style veins

Ariana Resources plc (LON:AAU) has announced a Joint Ore Reserves Committee resource update for the Kepez prospect, which is part of the Red Rabbit joint venture.

The new estimate represents a roughly 270% increase on a gold-only basis from the previous estimate of around 8,800 oz gold.

Potential resource extensions are represented by a number of drill holes including 9.6 metres at 3.0 grams per tonne (g/t) gold (Au) and 119 g/t Ag; 6 metres at 2.7g/t Au and 16 g/t Ag from near the surface.

The revised resource estimate​

 

Tonnes (t)

Grade Au (g/t)

Grade Ag (g/t)

Gold (oz)

Silver (oz)

Au equiv. (oz)

Kepez North

Indicated

60,000

4.61

34.7

8,768

66,030

9,869

Inferred

159,862

1.15

7.4

5,911

37,879

6,542

Kepez West

Inferred

150,993

1.89

12.5

9,175

60,439

10,182

GLOBAL TOTAL

370,855

 2.00

 13.8

23,854

164,348

26,593


"This resource update for Kepez indicates the potential to add at least one year of production from this satellite area to the Kiziltepe mining operations. Furthermore, the higher confidence indicated resource at Kepez North, which contains approximately 60,000 tonnes at 4.6 g/t Au and 34.7 g/t Ag, shows potential for several months of high-grade production. This part of the resource has also been shown to have good metallurgical characteristics from previous bulk test-work,” said Dr Kerim Sener, the managing director of Ariana.

"We envisage this area being developed as a series of shallow open-pits, developed as satellites to the Kiziltepe mining operations, within short trucking distance from the processing plant. In addition, we believe there is scope to enhance this resource further and additional drilling is being planned by the joint venture accordingly. The proximity of this area to the Kiziltepe operations makes such satellite operations highly viable," Dr Sener maintained.

The Kepez prospect is 50% owned by Ariana Resources; the other half is owned by Proccea Construction.

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