Ariana Resources PLC (AIM:AAU, FRA:4A6) (AIM:AAU) reported drilling results from the Karakavak area, northeast of the Kiziltepe gold-silver mine in western Turkey, and said a resource estimate and the definition of an exploration target was underway.
The drilling results include 3.0 meters at 2.40 grammes a tonne (g/t) gold and 1.7g/t silver; 4.6 metres at 1.36g/t gold and 2.2g/t silver; and 5.1 metres at 1.10g/t gold and 1.4g/t silver. Only 14% of the Karakavak vein has been drilled so far.
“These results build on the initial drilling programme announced in 2017 and have confirmed the expected geometry of the main vein,” said managing director Dr. Kerim Sener.
“Unlike the very steeply dipping veins at Kiziltepe, the veins at Karakavak appear to be moderately dipping to the south. This geometry is more favourable for the development of potential open-pits, especially given the general southward slope of the topography in this area.
“A resource estimate will be completed on the basis of the limited area drill tested to date, in addition to defining a JORC exploration target for certain prospective vein extensions. This work will help guide further resource definition work across this important satellite prospect area."
The Karakavak area is considered as a potential low strip-ratio resource capable of feeding into the Kiziltepe mine operations, Ariana said.
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.