Infill drilling results from the Kepez North vein include: 2.70 metres at 15.26 grammes a tonne (g/t) gold and 90.7g/t silver; 2.60m at 5.75g/t gold and 9.2g/t silver; and 6.05m at 2.34g/t gold and 22.5g/t silver.
New intercepts from surface for the Kepez North scree returned: 4.5m at 10.21g/t gold and 133.8g/t silver, 4.0m at 8.26g/t gold and 107.3g/t silver; and 1.5m at 5.02g/t gold and 51.0g/t silver.
"The Kepez area has always been an enigmatic jewel in the portfolio,” said managing director Dr. Kerim Sener.
“This new data will lead to a revised resource estimate for Kepez, which now shows the potential for a significant grade boost. The fact that most of the high-grade mineralisation is directly accessible from surface to a depth of about 70m, suggests that the majority of the resource is likely to convert to mining reserves.”
Kepez North is 23.5% owned by Ariana.
Sener said the joint venture is looking at ways to expedite the mining of this area.
On the corporate front, Ariana announced yesterday that a second court hearing on its proposed capital reduction plan has been completed as expected.,
A further update on the company's dividend policy will be provided in July, it said.
The proposed capital reorganisation, announced February 8, will enable the company to pay a special dividend following completion of the joint venture with Özaltin Holding and Proccea Construction Co.