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14/12/2012

Ariana Resources "back on track"

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Market: AIM
Sector: General Mining - Gold
EPIC: AAU
Latest Price: 1.05p  (0,00%)
52-week High: 3.88p
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Market Cap: 4.38M
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Ariana Resources
www.arianaresources.com
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Ariana Resources PLC is an AIM-listed gold exploration and development company. Ariana's advanced projects are located in western Turkey.  Production is currently scheduled to start in 2013 on the Red Rabbit gold project.  Ongoing exploration is fulfilled through our own work in western Turkey, via joint venture (Eldorado Gold) and...

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Ariana Resources Kiziltepe drilling returns "truly exceptional" gold grades

May 21 2012, 7:20am Other intercepts include 34 metres at 1.04 grams of gold equivalent, 7.6 metres at 7.6 grams and 5.81 at 5.71 grams.

 

Ariana Resources (LON:AAU) this morning said the latest drilling programme in western Turkey returned “truly exceptional” gold and silver grades.

The highlight from the Arzu North and South veins in the Kiziltepe sector of the Red Rabbit Project was a 12.1 metre section at 13.1 grams of tonne of gold and 187.6 grams of silver. 

This included 3.2 metres at 38.7 grams of gold and 511 grams of silver and a one metre section at almost 66 grams of gold and 760 grams of silver.

Other intercepts include 34 metres at 1.04 grams of gold equivalent, 7.6 metres at 7.6 grams and 5.81 at 5.71 grams.

Managing director Dr Kerim Sener said: "These are truly exceptional drilling results and underline the potential of our Red Rabbit Gold Project.  

“The grades and width of mineralisation reported are greater than anything we have seen in the seven years that we have been exploring this deposit and importantly prove the high grade vein system extends under cover between the Arzu South and Arzu North structures.  

“The scale of the project continues to grow with further zones being identified that will only improve the economics of the project which we are advancing towards production.

"The fact that these results derive from an area of cover along a strong geophysical anomaly corridor suggests that there is significant potential in this zone.  

“We will now look to advance our exploration on the project with drilling focused on identifying mineralisation that could be accessed by underground development originating from either the bottom of the Arzu South or the Arzu North pits."  

 

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