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Ariana Resources is advancing gold opportunities in Turkey

Last updated: 12:43 12 Mar 2024 GMT, First published: 14:30 16 Dec 2020 GMT

Snapshot

  • Ariana Resources reports 'most exciting' drill results so far at Tavsan
  • How Ariana Resources turned a £5 idea into £50 million
  • Ariana underlines Tavsan potential with latest drill results, says WHI
  • Ariana Resources drilling across all key projects
gold

About the company

Ariana Resources PLC is an exploration, development and production company focused on precious and technology metals.

The company aims to advance mineral resource opportunities towards production and commercialisation in the globally significant Tethyan Metallogenic Belt, extending through Europe and Asia, which hosts some of the world’s largest gold, copper and silver deposits.

The demand for mineral resources is ever-increasing and as such Ariana aims to contribute via its projects towards technological development, energy efficiency and the global decarbonisation agenda.

How it is doing

12 Mar 2024

Ariana Resources PLC (AIM:AAU) said the final stages of drilling at Tavsan in Turkey had produced some of the "most exciting" results of the programme.

According to managing director Kerim Sener: “High-grade mineralisation not only occurs on extensions of the North Zone near surface but most intriguingly is now identified in the deep drilling on the project."

“This suggests that there may be other laterally extensive high-grade structures developed along other thrust-planes beneath the main zone of mineralisation at Tavsan.

“The purpose of this deeper drilling was to test this hypothesis, and these results confirm our understanding of this potential.”

22 Feb 2024

Ariana Resources said final drilling from the 2023 programme at the Kizilcukur deposit in Turkey showed two high-grade veins that underline its potential as an ore feed to the existing Kiziltepe mine.

One intersection contained gold grading at 1.99 g/t and silver at 153 g/t over a width of 17 metres, with another returning 30 g/t gold over 1.9m.

15 Feb 2024

Ariana Resources has completed due diligence on the 1.3Moz Dokwe gold project in Zimbabwe owned by Rockover.

For the due diligence programme, Ariana carried out 1,222m of diamond drilling with two holes at Dokwe North and two holes drilled at Dokwe Central.

Insight: How Ariana Resources turned a £5 idea into £50 million

18 Feb 2021

“Figuring out how to turn a £5 idea into a company worth about £50mln” – this is how Kerim Sener describes the process of transforming Ariana Resources (LON:AAU) from an upstart explorer into a gold producer over the last eighteen years.

There’s been little stopping Ariana after it kicked off production at its first gold mine, Kiziltepe in western Turkey, four years ago.

What the brokers say

12 Mar 2024

Ariana Resources PLC (AIM:AAU) results from the final drilling programme at its Tavsan mine project – to be its second operating mine in Turkey - highlight the potential for an increase in resource size and grad, suggests stockbroker WH Ireland.

High-grade ore (more than 3g/t gold) is already being stacked from the commissioning of the mine in preparation for first production and Ariana expects to put out an announcement about the plans for 2024 before the end of March.

“Tavsan will be an important new plant for Ariana in our view and essentially turns the company from a single-mine to multi-operational organisation which reduces risks and provides for production and cash flow growth,” said the broker.

What management says

20 Nov 2023

Ariana Resources PLC (AIM:AAU) managing director Kerim Sener gives Proactive an update on its Asgard Metals Fund. He says the companies have successfully raised additional funds both privately and through the capital markets, totalling circa A$5,500,000, which he says has been a real achievement. Sener adds that diamond drilling is progressing well at the Hertica project in Kosovo while the company also has a number of drill programs advancing in Turkey. ‘'It’s probably one of the most active periods we’ve ever been involved in'', he says.

Ariana Resources drilling across all key projects

Ariana Resources PLC (AIM:AAU) managing director Kerim Sener gives Proactive an update on its Asgard Metals Fund. He says the companies have successfully raised additional funds both privately and through the capital markets, totalling circa A$5,500,000, which he says has been a real...

on 20/11/23