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ARZU NORTH DRILLING RESULTS

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RNS Number : 6577T
Ariana Resources PLC
18 November 2019
 

 

 

ARZU NORTH DRILLING RESULTS

Highlights:

 

·    Infill resource drilling results from the Arzu North Vein include 7m @ 3.34 g/t Au + 54 g/t Ag, 9m @ 2.44 g/t Au + 41 g/t Ag, and 8m @ 2.88 g/t Au + 156 g/t Ag.

 

·    Significant mineralisation confirmed at far NW end of Arzu North, which sits outside of the current resource with the potential to extend further by several hundred metres.

 

·    Mining activities at Arzu North and Derya are fully underway, and grade control results obtained to date from Arzu North include: 2m @ 17.90 g/t Au + 147 g/t Ag, 3m @ 7.74g/t Au + 60 g/t Ag and 8m @ 2.05 g/t Au + 20 g/t Ag.

 

Dr. Kerim Sener, Managing Director, commented:

"The drilling results from Arzu North demonstrate that the vein system contains significant opportunities to identify further mineralised parallel structures which sit outside of the zones modelled to date.  Most importantly, we now have confirmation that the Arzu North vein system is not limited on its NW end and that significant mineralisation occurs in this area, which is not currently captured by the designed pit.  We will be working on ensuring we obtain forestry access to this area such that the full strike length of a further 470m can be tested all the way to Arzu Far North.  If further economic mineralisation is determined along this trend it will have a significant positive impact on the life of mine and the future economics of the operation. 

 

"The Company is working on a new mineral resource estimate for the Kiziltepe Mine to include all of the new drilling results.  This work will be completed once the results for the Arzu South deep drilling programme are obtained during December."

 

Drilling Programme

1)      Complete infill drilling at the eastern end of the Derya resource prior to the commencement of mining in Q4 2019.

 

2)      Complete additional drilling at Arzu North, following the results from May 2019, to test for probable extensions to the NW and to the SE.

3)      Conduct initial testing for any underground potential at Arzu South to support an underground resource estimation.

 

Hole ID

From (m)

To (m)

Interval (m)

Grade Au (g/t)

Grade Ag (g/t)

KTP-RC17-19

3

6

3

2.18

51

15

19

4

2.03

31

41

45

4

1.31

45

KTP-RC18-19

93

97

4

4.03

76

145

146

1

3.4

55

KTP-RC19-19

2

4

2

2.43

51

7

8

1

1.07

12

15

16

1

2.2

27

47

48

1

1.37

2

66

72

6

1.91

32

87

89

2

1.92

55

KTP-RC20-19

37

45

8

2.14

11

106

110

4

2.24

74

KTP-RC21-19

35

36

1

1.07

4

43

44

1

3.5

8

60

62

2

1.9

23

65

73

8

2.28

156

76

77

1

5.7

90

KTP-RC22-19

35

36

1

1

2

74

75

1

1.83

12

79

80

1

4.33

125

83

84

1

2.75

17

92

99

7

3.34

54

102

104

2

2.67

8

KTP-RC23-19

8

9

1

1.05

2

17

18

1

3.63

21

19

20

1

1.27

13

28

29

1

1.3

16

37

39

2

1.13

10

66

67

1

1.03

6

70

72

2

1.6

25

75

76

1

1

26

78

87

9

2.44

41

91

92

1

1.22

50

KTP-RC24-19

111

112

1

1.07

54

117

118

1

2.1

47

KTP-RC25-19

12

14

2

1.16

18

35

36

1

1.45

19

38

39

1

3.74

55

66

67

1

1.47

12

80

82

2

1.5

20

 

Channel ID

From (m)

To (m)

Interval (m)

Grade Au (g/t)

Grade Ag (g/t)

AN-385-27

31

33

2

17.9

147

AN-385-27A

0

3

3

7.74

60

AN-385-34

17

25

8

2.05

20

AN-385-35

7

15

8

1.41

13

AN-385-25A

2

4

2

5.59

33

AN-405-7A

14

20

6

1.79

3

AN-385-34

9

15

6

1.6

20

AN-385-38

50

53

3

3.12

5

AN-385-35

28

34

6

1.39

13

AN-385-26A

1

3

2

4.05

53

 

Sampling and Assaying Procedures

 

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

Contacts:

 

Ariana Resources plc

Tel: +44 (0) 20 7407 3616

Michael de Villiers, Chairman

 

Kerim Sener, Managing Director

 

 

 

Beaumont Cornish Limited

Tel: +44 (0) 20 7628 3396

Roland Cornish / Felicity Geidt

 

 

 

Panmure Gordon (UK) Limited

Tel: +44 (0) 20 7886 2500

Atholl Tweedie / James Stearns

 

 

 

Yellow Jersey PR Limited

Tel: +44 (0) 20 3004 9512

Dom Barretto / Harriet Jackson

/ Henry Wilkinson

[email protected]

 

 

Editors' Note:

 

 

About Ariana Resources:

Glossary of Technical Terms:

"oz" Troy ounces;

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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