Ariana Resources plc (LON:AAU) has unveiled a Joint Ore Reserves Committee (JORC) exploration target for its Salinbas gold project in Turkey.
The AIM-listed gold explorer said the JORC exploration target had indicated up to 2.7mln ounces (Moz) of gold and 16.1Moz of silver in the Salinbas area, excluding current JORC indicated and inferred resources of around 1Moz of gold.
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Ariana added that there was potential for further resource extensions to be delineated from breccia pipes (shafts of broken rock) that feed into the Salinbas Horizon.
A drilling programme to systematically test the area and determine any potentially additionally JORC resources is “fully planned”, with around 10,000m of exploration drilling to be executed in two phases one forestry permits are secured.
Dr Kerim Sener, managing director of Ariana, said: "Our confidence in the potential for the Salinbas Project to host a multi-million ounce gold system in the area surrounding the Ardala Cu-Au-Mo porphyry has grown significantly during the past year.
He added: “The diligent work undertaken by our exploration team in recent months, involving the meticulous relogging of over 50 drill holes, along with the associated three-dimensional modelling, has underscored this potential. We now look forward to our summer exploration programme at Salinbas, which will be focused on follow-up surface sampling to further define this prospective horizon ahead of drill testing.”