Ariana Resources PLC (AIM:AAU) said the final stages of drilling at Tavsan in Turkey had produced some of the "most exciting" results of the programme.
According to managing director Kerim Sener: “High-grade mineralisation not only occurs on extensions of the North Zone near surface but most intriguingly is now identified in the deep drilling on the project."
“This suggests that there may be other laterally extensive high-grade structures developed along other thrust-planes beneath the main zone of mineralisation at Tavsan.
“The purpose of this deeper drilling was to test this hypothesis, and these results confirm our understanding of this potential.”
Drilling at the project is now complete and covered more than 10,000m in 112 diamond drill holes.
Best intercepts in the latest batch of assays were 12.6m at a grade of 4.91g/t gold from 214m; 9m at 2.99g/t from 69m and 8m at 2.61g/t from 55m.
Significant silver grades were also widely identified in the drilling, with 569 assay samples still pending.
Ariana added the construction of the mine at Tavsan is going well with high-grade ore being stockpiled ahead of first production, which is scheduled for the next few months.
Sener added: “Mining at Tavsan remains underway at the Main Pit, with high-grade material (c.3 g/t Au) being stockpiled preferentially.
“The production of the first gold at Tavsan will be derived from this high-grade material. Other construction activities are both ongoing and on schedule.”
Data from the drill programme will contribute to a revised Mineral Resource Estimate, production targets and the development plan, he added.
The project is operated via the Zenit Madencilik consortium in partnership with Proccea Construction and Ozaltin Holding. Ariana’s stake is 23.5%.