08:00 Mon 17 Sep 2018
Ariana Resources PLC - POTENTIAL TO EXPAND THE IVRINDI GOLD RESOURCE
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AIM: AAU
POTENTIAL TO EXPAND THE IVRINDI GOLD RESOURCE
Highlights:
· 1.3km long extension of the mineralised zone at Ivrindi identified through soil pXRF analyses.
· Gold mineralisation is encountered at surface in the range 2-10 g/t Au and is developed largely within several discrete zones of clay alteration.
· 1,500m Reverse Circulation ("RC") drilling programme being planned in order to test the full strike-length of the mineralised structure.
· Trial mining recently produced 8,000 tonnes; total of c.13,000 tonnes of gold mineralised material stockpiled, with future potential to truck to the Kiziltepe plant.
Dr.
"The discovery of a new zone of mineralisation outside of the areas previously tested with soil geochemistry or drilling, indicates the potential to grow the resource at Ivrindi substantially. Meanwhile, trial mining at the project undertaken during this summer has been completed and a stockpile is being maintained on site. We are very pleased with these recent developments at Ivrindi and we are keen to demonstrate that this resource has the potential to be mined and trucked to the Kiziltepe processing plant in the future. A drilling programme and metallurgical testwork are being planned in order to de-risk this project even further. We fully envisage Ivrindi being developed as a satellite operation during the later stages of mine life at Kiziltepe."
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Exploration Programme
During
In total, 1,370 soil samples for pXRF analysis were collected within and around the Ivrindi tenement. Results from these samples illustrate that elevated levels of arsenic and antimony correlate significantly with gold occurrences at Ivrindi. Arsenic levels ranging between 500 and 1,000 ppm in soil generally outline zones of known gold mineralisation. Arsenic levels exceeding 1,000ppm in soil, usually correlates directly with outcropping gold mineralisation, ranging in grade between 2-10 g/t Au. There is also a good correlation between areas of antimony mineralisation and higher-grade gold samples in the areas previously sampled and drill tested.
In particular, the recent exploration involved the follow-up of all previous data particularly where arsenic anomalism exceeded 500ppm. Detailed pXRF sampling was conducted on approximately 10m grids around all anomalous samples. Rock-chip samples for assay were taken from any material exceeding 1,000ppm arsenic. Seven new highly anomalous targets (exceeding 1,000ppm As) were identified within the Ivrindi tenement. Five of the newly identified targets are semi-contiguous over 1.3km and directly along strike of the main mineralised structure at the Kinik prospect, suggesting that the mineralisation continues east of the historic easternmost drill hole (KNK-D08-07 - 3.70m @ 2.51g/t Au). This extension of anomalous pXRF soil geochemistry for arsenic and antimony, has not previously been tested by rock-chip sampling or drilling and hence represents an important new exploration target.
A drilling programme of up to 1,500m of Reverse Circulation ("RC") drilling is being planned in order to fully test the strike length of the mineralised zone and to improve confidence in the existing resource.
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Figure 1: pXRF soil geochemical map of arsenic superimposed on satellite imagery of part of the
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Figure 2: pXRF soil geochemical map of antimony superimposed on satellite imagery of part of the
Trial Mining
Trial mining was conducted on the project area during the summer as part of a programme of work and as specified to the Turkish Government. Approximately 8,000 tonnes of mineralised material was extracted from the trial mining area. This adds to previous stockpiles of approximately 5,000 tonnes. Consideration will be given to moving this material for stockpiling and ultimately processing at the Kiziltepe mine site in the future. Initially, metallurgical testwork based on a bulk sample from Ivrindi will be conducted to demonstrate the amenability of this material for processing at the Kiziltepe plant.
Details of the
At Ivrindi, mineralisation occurs at the Kinik prospect, which occurs within a 450m long zone of mineralised alteration within Miocene age andesitic volcanic rocks. Mineralisation extends from surface to 70m vertical depth and is developed in part along the normal faulted contact with Permo-Triassic age limestones. The gold mineralisation is most well developed in several intensely clay altered zones associated with haematite and limonite, in which quartz vein formation is virtually absent.
A JORC 2012 compliant Mineral Resource estimate for the
Trial mining commenced within the central part of the resource area during 2018. Further trial mining is being considered for the 2019/20 period. The project is expected to be within economic trucking distance from the Kiziltepe operation and is accessible via asphalt road, which includes lengthy sections of dual carriageway. Consequently, any potentially open-pittable resources identified at Ivrindi are expected to be trucked efficiently to the plant site at Kiziltepe.
Contacts:
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Tel: +44 (0) 20 7407 3616 |
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Tel: +44 (0) 20 7628 3396 |
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Tel: +44 (0) 20 7886 2500 |
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Tel: +44 (0) 7544 275 882 |
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Editors' Note:
The information in this announcement that relates to exploration results is based on information compiled by Dr.
About
Ariana is an exploration and development company with mining operations focused on epithermal gold-silver and porphyry copper-gold deposits in
The Company's flagship assets are its Kiziltepe and Tavsan gold projects which form the
In north-eastern
For further information on Ariana you are invited to visit the Company's website at www.arianaresources.com.
Glossary of Technical Terms:
"As" the chemical symbol for arsenic;
"Au" chemical symbol for gold;
"g/t" grams per tonne;
"Inferred resource" a part of a mineral resource for which tonnage, grade and mineral content can be estimated with a low level of confidence. It is inferred from geological evidence and has assumed, but not verified, geological and/or grade continuity. It is based on information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes that may be limited or of uncertain quality and reliability;
"JORC" the
"JORC 2012" the JORC 2012 reporting code;
"m" Metres;
"oz" Troy ounces;
"pXRF" portable X-ray Fluorescence;
"Sb" chemical symbol for antimony.
Ends.
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