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Ariana's confidence in Kiziltepe increased by latest drilling results

Kiziltepe is part of the Red Rabbit joint venture with Proccea Construction and is 50% owned by Ariana

Ariana Resources PLC -
The recent phase of the drilling programme focused on progressively increasing the resources at Kiziltepe

Ariana Resources PLC (LON:AAU) said drilling at its Kiziltepe mine has confirmed several mineralised structures.

Earlier this year, Ariana completed a programme of resource infill drilling over the Arzu South, Derya and Arzu North vein systems within the Kiziltepe Sector of the Red Rabbit Project area.

Infill resource drilling results from the Derya vein include 16 metres (m) @ 2.04 grams per tonne (g/t) gold plus 14 g/t silver; 2m @ 9.88 g/t gold plus 4 g/t silver and 2m @ 5.80 g/t gold plus 70 g/t silver.

Ariana said drilling had confirmed the existence of several mineralised structures between Derya and Arzu North, including the Aybor vein.

 Drilling results

Hole ID

From (m)

To (m)

Interval (m)

Grade Au (g/t)

Grade Ag (g/t)

 

"The latest drilling results from the Derya area continue to reinforce the continuity of mineralisation at depth and to the east along strike of the currently open-pittable reserve,” said Kerim Sener, the managing director of Ariana.

“The grades and widths of mineralisation encountered [see table above] increase our confidence in the current resource model and also demonstrate the potential for a further extension of the open-pit to the east and/or mining by underground methods in the future,” Sener asserted.

“It is also apparent that the area between Derya and Arzu North contains several other gold-silver mineralised veins, some showing potential to be economic. Mining activities have recently commenced at Derya, so these results represent important and timely additions to our knowledge-base,” he added.

Quick facts: Ariana Resources PLC

Price: 1.975 GBX

AIM:AAU
Market: AIM
Market Cap: £20.93 m
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