Ariana Resources PLC (LON:AAU) saw its shares rise on Wednesday after the miner announced that a 1,000 metre diamond drilling programme is due to commence imminently at its wholly-owned Kizilcukur Gold Project in Turkey.
The company said that drilling to be focused on the planned Zeki Pit area, with the aim of improving the classification of JORC resources to the Measured and Indicated categories.
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It added that the Kizilcukur vein system demonstrates potential to extend across an area of 2.3km x 0.3km, much of which remains undrilled.
Kizilcukur is located 22km to the northeast of the group’s Kiziltepe Mine and is being developed with a view to trucking and processing at Kiziltepe in the future.
Ariana said an optimal trucking route to the Kiziltepe plant has been determined and these transport costs will be reflected in an internal feasibility study.
Dr. Kerim Sener, Ariana Resources’ managing director, commented: "We look forward to commencing a new drilling programme at our Kizilcukur Project, with the objective of defining a high-grade zone amenable to open-pit mining.”
He added: “Previous scoping-level work on the project outlined this open-pit potential and the new drilling is designed to improve confidence in the Mineral Resource as part of our internal feasibility study.
“Following successful metallurgical testwork, announced earlier this year, we envisage the mining and trucking of Kizilcukur ore to the Kiziltepe plant for processing.
“We are looking to advance Kizilcukur to the point of a decision to mine during 2019, following which various options for the further development of the project will be considered."
In early afternoon trading, Ariana shares were 6.7% higher at 1.60p.
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