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Ariana Resources PLC

Ariana Resources gives positive update on exploration and development activities at its projects in Turkey

The AIM-listed explorer highlighted the successful completion of 746 metres of infill resource diamond-drilling at its 100%-owned Kizilcukur Project

Gold
Dr Kerim Sener, Ariana’s managing director, commented: "We are very pleased with the current pace of progress across our exploration project areas"

Ariana Resources PLC (LON:AAU) shares jumped higher on Friday as the firm unveiled a positive update on the exploration and development activities at its projects within Turkey.

The AIM-listed exploration and development company with gold mining operations in Turkey highlighted the successful completion of 746 metres of infill resource diamond-drilling at its 100%-owned Kizilcukur Project.

WATCH: Ariana Resources' Kerim Sener details 2019 production and exploration plans

The group added that construction of a new haul road and plans for 2019 trial mining are also well underway at Kizilcukur.

The company also said that resource infill, geotechnical and hydrological diamond-drilling are scheduled to commence at the Tavsan Project next week.

In addition, it said, 2,000 metre reverse circulation drilling is due to commence in May 2019 at the company's 100%-owned Salinbas Project in eastern Turkey, with forestry permits for 10,000-metre drilling programme at Salinbas also close to being finalised.

Dr Kerim Sener, Ariana’s managing director, commented: "We are very pleased with the current pace of progress across our exploration project areas. Our field team is currently active across all of our sites simultaneously; the highest level of exploration and development activity undertaken in the history of the Company.”

He added: “In western Turkey, project development work is continuing at the Kizilcukur, Ivrindi and Tavsan sites which are located in close proximity to our flagship Kiziltepe gold mine. 

"Furthermore, additional resource-focused work is being directed towards extending the life of mine at Kiziltepe. In eastern Turkey, work at Salinbas, our large gold and base-metal deposit with over 1Moz of gold already defined, has started early in the field season in order to ensure we are in a position to commence a 2,000m RC drilling programme during May 2019.”

The CEO concluded: "We look forward to providing further project updates in due course and as results become available."

In late morning trading, shares in Ariana Resources were 7% higher at 1.90p.

 -- Adds share price --

Quick facts: Ariana Resources PLC

Price: £0.02

Market: AIM
Market Cap: £21.63 m
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