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 Resources raises £ 800,000 in well-received institutional placing
Turkey-focused gold group Ariana Resources PLC (AIM: AAU) said it raised £800,000 before expenses via an institutional placing of 26.667 million new shares a 3 pence each, and plans to use the funds for further development work on the Kiziltepe and Tavsan deposits.
Some of the new funds will be used to initiate core components of the pre-feasibility level evaluation of the 'Red Rabbit' project, which envisages integrating these two deposits into a single venture.
The interest in the placing exceeded expectations, underpinned by the latest positive shift in market sentiment towards Ariana, the group added.
It will undertake new exploratory drilling on Kiziltepe and related targets in prospective areas where surface data is limited. At Tavsan, Ariana plans a geophysical programme to identify new targets for resource extensions.


















