The Red Rabbit joint venture, which is 50%-owned by Ariana, has so far completed geotechnical and hydrological drilling, a preliminary site plan and process flow-sheets for Tavsan.
Analysis of rock-chip sampling has shown some areas at 3.59 grammes per tonne of gold and 8.1 g/t of silver, some at 2.13 g/t of gold and 5.0 g/t of silver and some at 1.65 g/t and 4.7 g/t.
With metallurgical testing nearing completion, a feasibility study and the environmental impact assessment (EIA) are both expected to be finished in the coming months.
Ariana managing director Kerim Sener was pleased with the results from Tavsan, saying: “The latest discovery shows that there is significant potential for the project to yield additional resources.”
He said while some drilling for the purposes of the EIA was completed earlier this year, some resource drilling was postponed and will instead be replaced by a rock-saw channel programme over the primary resource areas in late September.
“We are very encouraged by new discoveries of mineralisation outside of the initial mine plan, as these indicate that there is further scope to grow the Tavsan project," he said.