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.
Ariana Resource ups Kiziltepe JORC resource by 25%
Ariana Resources (LON:AAU) has increased the Kiziltepe JORC resource by 25 percent, taking it to 232,900 ounces of gold equivalent.
Total Measured and Indicated resources were increased to 206,500 ounces of gold equivalent.
Crucially all the measured resources are within preliminary pit shapes, which were model based on prices of US$800/ounce gold and US$14/oz silver.
Kiziltepe is one part of the recently established Red Rabbit joint venture project in Turkey, which is being progressed alongside Turkish construction firm Proccea. Tavsan is the other Red Rabbit deposit.
Overall Ariana’s total resource inventory now stands at approximately 448,000 ounces of gold equivalent.
“The new estimate represents the foundations of our continuing work programmes,” managing director Dr. Kerim Sener
“it was important to ensure that the estimate incorporated economic parameters derived from our scoping study.”
“Most importantly, the increase to the Measured and Indicated components of the estimate provides enhanced confidence in the scale of the potentially mineable resource at Kiziltepe.”
Sener also highlighted that Ariana has achieved an excellent result by upgrading Kiziltepe’s Banu and Derya resources from Inferred category to Indicated, almost on a 1 for 1 basis.
The company highlighted that the grade zones continue below the modelled pit-bottom - at Arzu South and Arzu North targets.
Furthermore Ariana has identified other new areas for potential resource growth.
The resource covers Kiziltepe’s four main mineralised structures - Arzu South, Arzu North, Derya and Banu.
To date Ariana has completed over 16,340 metres of drilling, as well as 960 metres of channel sampling.
