Proactive Investors - Run By Investors For Investors

Ariana boosts gold resource at Tavsan

New resource will allow Ariana to move straight to feasibility studies
Ariana will fund further work at Tavsan with cash flow from Red Rabbit

Ariana Resources plc (LON:AAU) has boosted its resource base at the Tavsan project in Turkey to 3.98mln tonnes grading 1.32 grams per tonne gold. There’s also 4.46 grams per tonne silver.

That gives a total of 168,900 ounces of gold and 571,000 ounces of silver, all within established pit shapes.

READ: Ariana expects 20,000 ounces of gold production in 2018

More than 71% of the resource is now counted in the measured and indicated categories, under the JORC guidelines.

In addition, Ariana has identified a target that could contain as much as 9.70mln tonnes of extra ore, which would amount to around 400,000 ounces of gold, assuming grades of 1.3 grams.

The new resource allows Ariana to proceed with a feasibility for Tavsan without additional drilling.

The property is part of the wider Red Rabbit joint venture, which is already in production.

"This is an exceptionally pleasing and robust resource update for the Tavsan project,” said Ariana managing director Kerim Sener. 

“We are increasingly confident in the potential for Tavsan to be developed in the medium-term and that planned mine life can be increased beyond four years, as previously defined in the scoping study of 2016. The JV is targeting the development of Tavsan as a semi-autonomous project with the Kiziltepe mine, within the broader context of the Red Rabbit Joint Venture with Proccea Construction Co.”


View full AAU profile View Profile

Ariana Resources PLC Timeline

Related Articles

May 15 2018
It has hired engineer Hatch Ltd to look at a potential autoclave to produce gold bars
June 21 2018
The company's key operations are located in South Africa, Ghana and Kenya.
zeolite mine
September 14 2018
Zeolite may not be the most well-known mineral but it has wide applications, such as use in animal feed, as a pozzolan in cement and as an additive to soil, which could be used for cannabis plants

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use