Ariana Resources PLC (AIM:AAU) reported positive results from resource and exploration drilling at the Tavsan project in Western Turkey.
“These drilling results have continued to reinforce our understanding of the Tavsan gold-silver deposit and have largely extended the footprint of known mineralisation, particularly across the North Zone,” said the AIM-listed mineral exploration and development company's managing director, Dr. Kerim Sener, said.
“In fact, some of the highest grades and widest intercepts of mineralisation in the whole project are now located in this zone. Accordingly, we are expecting a significant improvement in the mineral resource estimate in this area in particular.”
Infill resource drilling results from the North Zone include: 17.8 metres (m) at 2.93 grammes a tonne (g/t) gold and 5.1g/t silver, including 3.2m at 6.84g/t gold and 8.3g/t silver; 12.0m at 1.70g/t gold and 2.9g/t silver; and 12.9m at 1.57g/t gold and 1.9g/t silver.
The primary objective of the 2021/2022 drilling programme at Tavsan was to provide infill drilling data to support a reclassification of the Tavsan resources, primarily into the more certain measured and indicated categories. In all, 55 of the 96 holes drilled intercepted gold mineralisation exceeding 1g/t gold over a sample length of 1 metre.
Drilling within the Main Zone, which contains the bulk of the project’s current resource estimate, showed average intercept values ranging from 1 to 4g/t gold, while drilling within the West Zone intercepted lower grades in general with average values ranging from 0.5 to 2g/t gold.
The company also provided an update on permitting and other key stages for the project.
"Permitting for Tavsan is now nearing conclusion and the construction stage of the project is due to commence in July, once financing arrangements are completed,” said Sener.
“We will be revising our feasibility study for Tavsan on completion of the new resource estimate and once finance terms are agreed. This is an exciting time in the development of our second mine in Turkey and further updates to the market will be provided in due course."
The project is operated by Zenit Madencilik San. ve Tic. AS in partnership with Proccea Construction Co and Ozaltin Holding AS and is 23.5% owned by Ariana.