Ariana Resources PLC (AIM:AAU, FRA:4A6) (AIM:AAU) said drilling results confirmed the opportunity to expand the open-pit at the Arzu South area of the Kiziltepe gold-silver mine in western Turkey.
New significant intercepts within the Arzu South area include 13.9 metres at 1.67 grammes a tonne (g/t) gold and 17.5g/t silver; 8.2 metres at 2.49g/t gold and 43.5g/t silver; and 5.0 metres at 2.70g/t gold and 027.6g/t silver.
A full Kiziltepe mineral resource estimate update, based on drilling completed up to the end of June, is underway.
"These drilling results have confirmed the opportunity to expand the open-pit at Arzu South, particularly at the NW end and also at further depth,” said managing director Dr. Kerim Sener.
“Some of the deeper drilling undertaken at Arzu South this year aimed to provide further definition to some higher-grade mineralised shoots, though the continuity to depth of these is now considered less likely.
We are, however, very encouraged to see the opportunities for pit expansion and to bring Arzu South back into operation. Being the highest-grade vein system overall at Kiziltepe, this is an important development.
“Encouragingly, we have both identified and confirmed the presence of additional narrow but potentially higher-grade veins in both the hanging wall and footwall of the main Arzu South vein, which furthers the opportunity to build an enhanced resource,” he said.
Earlier this month, the AIM-listed company announced positive drilling results from the Arzu Central area of Kiziltepe.
Kiziltepe is part of the Zenit Madencilik San. ve Tic. A.S. joint venture with Proccea Construction Co. and Ozaltin Holding A.S. and is 23.5% owned by Ariana.