Ariana Resources PLC (LON:AAU) told investors it has unearthed new high grade veins across the Arzu North area of the Kiziltepe joint venture gold-silver mine project in Turkey.
The company provided details of its findings from its latest geochemical sampling and geological interpretation programme, where it has identified some 1,190 metres of strike length of new gold-silver veins within the limits of the current Arzu North and Derya open-pits.
It added that the veins are 0.5 to 4 metres of true width. Highlight grades in samples measured up to 14.48 grams per tonne gold and 130 g/t silver over 1 metre, and 6.58 g/t and 260 g/t silver over 4 metres.
The news comes just one day after Ariana announced the completion of its transformational joint venture deal with Özaltin and Proccea Construction – the expanded JV deal sees the AIM-listed company bank US$37.75mln of cash.
READ: Ariana Resources seals expanded joint venture
Ariana highlighted that its active drill programme is now being adjusted to intercept the newly uncovered veins at depth and outside the current pit designs.
"Following the landmark news of the completion of the company's transformational joint venture with zaltin and Proccea, we are pleased to announce the results of the latest geochemical sampling and geological interpretation of the Arzu North area at the JV's Kiziltepe mine,” said Dr Kerim Sener, managing director.
“The latest work in the Arzu North area proves our understanding that the majority of veins in this area were obscured at surface due to the upper ignimbrite cap rock.
“This prohibited the identification of mineralisation at surface and suggests that significant mineral potential remains to be tested throughout this area. In addition, from the perspective of the mining operation, the presence of these veins will only add to the gold and silver output of the Arzu North pit.”
Sener added: “Evidence suggests that the vein system, though buried, remains well-developed in this area and requires drill testing.
“A similar situation also occurs on the eastern end of the Derya vein.
“The current two-rig diamond drilling programme is well underway and is now being refined to test additional areas along strike of the Arzu North vein system in particular and in the Arzu Central area near the Derya vein.”