Ariana Resources plc (LON:AAU) has completed its resource-focused target assessments for the Tavsan gold project on the 50%-owned Red Rabbit joint venture with Proccea Construction.
Extensive new geochemical target areas have been identified, demonstrating clear potential for resource growth.
In particular, six significant target areas have been confirmed, with some containing significant drill intercepts including six metres at 3.37 grams per tonne gold and 3.67 grams silver and nine metres at 1.30 grams gold and 4.32 grams silver within around 20 metres from surface.
In addition, a new discovery, referred to as the South Zone, appears to represent a structural repeat of the Main Zone resource area, though it is partly obscured by cover rocks.
The company is now reassessing the resource estimate for Tavsan, which currently stands at 215,000 ounces of gold equivalent.
"The Tavsan Gold Project has continued to demonstrate substantial opportunity for further resource growth,” said Ariana’s managing director Kerim Sener.
“This new soil geochemical survey has identified a number of areas that require drill testing for the first time or which specifically require resource drilling. Some of these areas are known to contain mineralised jasperoid and are dotted with old antimony workings. We are confident that such areas will also host high-grade gold and silver mineralisation.”