Ariana Resources says drilling confirms opportunity to expand the open-pit at the Arzu South area of the Kiziltepe mine
Arzu South is the most significant area of gold and silver mineralisation within Kiziltepe
Company
LON:AAU
Ariana Resources is a mineral exploration and development company with an exceptional track-record of creating value for its shareholders through its interests in active mining projects and investments in exploration companies. The company's focus is a +1Moz gold development project in Zimbabwe and has interests in gold production in Türkiye and copper-gold silver and zinc exploration and development projects in Cyprus and Kosovo.
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Arzu South is the most significant area of gold and silver mineralisation within Kiziltepe
The results confirm that the Arzu and Derya vein systems are interlinked without interruption through the Arzu Central area
Maintains gold production guidance of around 19,000 ounces for the year
“We remain highly encouraged by this area as a potential source of very high-grade mineralisation," said managing director Dr. Kerim Sener
Ariana has built up a strong track record of gold production in Turkey
Michael de Villiers said the company will continue to focus on discovering mineral resources by “mitigating risks, mobilising cutting-edge technologies, minimising environmental impact and maximising partnerships with local communities”
“Following several years of significant under-investment across the junior exploration sector, we are taking a major-company approach to the funding and development of exploration projects," said Dr. Kerim Sener
"These excellent results confirm our expectations that the Kokkinoyia deposit represents a copper-gold volcanogenic massive sulphide system,” said managing director Dr. Kerim Sener
The Kepez North area is 23.5% owned by Ariana Resources
The Kiziltepe Mine and the Tavsan and Salinbas projects are all located in Turkey
High-grade potential at Derya includes the previously reported "Bonanza Zone" intercept of 12.1 metres at 13.1g/t gold and 187.6g/t silver
Several exploration licence applications have been submitted in Kosovo and an extensive review of Eastern European project opportunities has commenced
Court dates have been fixed for early and late June
The results confirm the presence of higher-grade mineralisation towards the south-eastern end of the Banu vein
“Collectively these results confirm the potential to extend the Arzu North open pit both to the northwest and to the southeast.
The proposed capital reorganisation will enable the company to pay a special dividend
The eight-hole drilling programme is expected to also to confirm the abundance and distribution of gold and silver
A plant expansion to an operating capacity of up to 500,000 tonnes of ore per annum is well underway and scheduled for completion early in the third quarter and a new mill has recently been installed
The AIM-listed exploration and development company started with managing director Dr. Kerim Sener and his father driving around in a second-hand car, sampling for gold across Turkey. Now, Ariana Resources is a gold exploration and developme
“The latest work in the Arzu North area proves our understanding that the majority of veins in this area were obscured at surface due to the upper ignimbrite cap rock," said Dr Kerim Sener