Ariana Resources PLC (LON:AAU) has had its suite of licences in one of the most sought after gold exploration areas of Turkey renewed for another five years.
Salinbas is located in the Hot Gold Corridor and Ariana's licences have been extended for a further five years until 2024.
The junior owns 100% of the project through its shareholding in Greater Pontides Exploration.
The Salinbas project comprises three licences at Ardala, Salinbas and Hizarliyayla, with most of the existing resources currently within Ardala.
The mining permit at Ardala has also been extended to cover this mineralisation and also the known resources at Salinbas and Salinbas North.
Kerim Sener, Ariana’s managing director, said the renewal was a major milestone and he was particularly pleased with the significant increase in the size of the operating permit at Ardala.
“That provides us with the right to undertake mining activities across the entire mineralised area within the licence.
“As a result of these recent positive project developments for the project, the company is committing to the immediate commencement of an environmental baseline study and associated scoping work required in advance of an Environmental Impact Assessment.
“We are also going to undertake further drill planning so that the company will be in a position to undertake dedicated resource drilling of this project from Q2 2020."
The Hot Gold Corridor in Turkey has already unearthed multi-million-ounce discoveries close to Ariana’s licences.