AAU Ariana Resources Plc

 
TIDMAAU 
 
   11 January 2017 
 
   AIM: AAU 
 
   FIRST OPERATIONAL UPDATE - KIZILTEPE 
 
   Ariana Resources plc ("Ariana" or "the Company"), the gold exploration 
and development company operating in Turkey, provides its first 
operational update on the Kiziltepe Mine within the Red Rabbit 
Gold-Silver Project in Western Turkey ("Red Rabbit").  Kiziltepe is 
being advanced towards production through a 50:50 Joint Venture ("JV") 
with Proccea Construction Co. ("Proccea"). 
 
   Highlights: 
 
 
   -- Process CIL/CIC and ADR* piping and electrical work fully completed, with 
      the process plant ready for operational start-up; automation works are 
      continuing. 
 
   -- Commissioning of ball mill is complete and wet commissioning of the 
      process plant is largely complete, with thickener tests due to be 
      completed this week. 
 
   -- Dry commissioning has been completed and the crushers and screens are now 
      fully operational. 
 
   -- Approximately 7,000 tonnes of ore ranging in grade from 2.7 to 0.5 g/t 
      gold and representing two weeks of production, is stockpiled ready for 
      the first full-scale tests and start-up. 
 
   -- Dam wall complete and installation of geomembrane for Stage 1 Tailings 
      Storage Facility ("TSF") is largely complete, though currently 
      experiencing delays due to unprecedented weather conditions. 
 
   -- Revisions to our resource and reserve estimates are ongoing following 
      recent drilling; an improved mining plan and associated scheduling is 
      underway. 
 
   -- Mine site laboratory is now operational with capability for routine Aqua 
      Regia digests and fire assay. 
 
 
   Dr. Kerim Sener, Managing Director, commented: 
 
   "Following a productive site visit conducted in the last few days, we 
are very encouraged to report that the Kiziltepe Mine is now largely 
operational, following the successful completion of major construction 
in December.  Dry and wet commissioning of the process plant, including 
the CIL tanks and thickeners, is almost complete, although deteriorating 
and unprecedented weather conditions during the latter part of December 
and in to January have now delayed completion of the TSF.  The 
conditions being encountered at site have ranged from very wet weather 
in late December to sub-zero temperatures and heavy snowfall in early 
January, which have negated the laying of the final geomembrane for the 
Stage One TSF, which comprises only another two weeks of work.  Previous 
guidance provided by the Company had indicated that Kiziltepe was likely 
to become operational in late December but the timing of start-up has 
now been necessarily postponed due to the conditions at site.  As the 
TSF completion is a critical path component of the project, we cannot 
provide further guidance on formal start-up until the weather clears and 
the conditions for laying geomembrane improve.  In particular, the 
temperatures for laying geomembrane must exceed five degrees Centigrade. 
In the meantime, our teams are working on all other operational aspects 
to ensure a smooth transition in to production once the TSF is able to 
be completed.  We will provide a further update on project progress 
before the end of January. 
 
   The Company is also advancing work programmes on its other projects to 
enhance its future production profile once Kiziltepe enters production 
and we look forward to updating the market on this activity in due 
course." 
 
   * CIL - Carbon-in-Leach; CIC - Carbon-in-Column; ADR - 
Adsorption-Desorption-Recovery 
 
   Figure 1: View of the Kiziltepe process plant showing the completed 
CIL/CIC and ADR plant, taken from the site of the ball mill.  The 
pipeline from the ball mill to the thickeners (in the foreground) is 
completed. 
 
   Link:  http://hugin.info/138153/R/2070388/777898.pdf 
 
   Figure 2: View of the CIL tanks within the completed CIL/CIC and ADR 
plant.  All components within the process plant, including the ADR 
system have been individually tested.  Full system commissioning is due 
to commence shortly. 
 
   Link:  http://hugin.info/138153/R/2070388/777899.pdf 
 
   Figure 3: View of the fully operational ball mill.  Testing of the ball 
mill is complete and piping of slurry to the thickeners will occur 
during the week. 
 
   Link:  http://hugin.info/138153/R/2070388/777900.pdf 
 
   Figure 4: View of the TSF location looking towards the dam wall.  Two 
feet of snow has obscured the facility and inhibits the laying of 
remaining geomembrane. 
 
   Link:   http://hugin.info/138153/R/2070388/777901.pdf 
 
   This announcement contains inside information for the purposes of 
Article 7 of EU Regulation 596/2014. 
 
   Contacts: 
 
 
 
 
Ariana Resources plc             Tel: +44 (0) 20 7407 3616 
Michael de Villiers, Chairman 
Kerim Sener, Managing Director 
 
Beaumont Cornish Limited         Tel: +44 (0) 20 7628 3396 
Roland Cornish / Felicity Geidt 
 
Beaufort Securities Limited      Tel: +44 (0) 20 7382 8300 
Jon Belliss 
 
Panmure Gordon (UK) Limited      Tel: +44 (0) 20 7886 2500 
Adam James / Tom Salvesen 
 
 
 
   Editors' Note: 
 
   About Ariana Resources 
 
   Ariana is an exploration and development company focused on epithermal 
gold-silver and porphyry copper-gold deposits in Turkey.  The Company is 
developing a portfolio of prospective licences originally selected on 
the basis of its in-house geological and remote-sensing database. 
 
   The Company's flagship assets are its Kiziltepe and Tavsan gold projects 
which form the Red Rabbit Gold Project.  Both contain a series of 
prospects, within two prolific mineralised districts in the Western 
Anatolian Volcanic and Extensional (WAVE) Province in western Turkey. 
This Province hosts the largest operating gold mines in Turkey and 
remains highly prospective for new porphyry and epithermal deposits. 
These core projects, which are separated by a distance of 75km, form 
part of a 50:50 Joint Venture with Proccea Construction Co.  The 
Kiziltepe Sector of the Red Rabbit Project is fully-permitted and is 
nearing start-up.  The total resource inventory at the Red Rabbit 
Project and wider project area stands at c. 525,000 ounces of gold 
equivalent. 
 
   In north-eastern Turkey, Ariana owns 100% of the Salinbas Gold Project, 
comprising the Salinbas gold-silver deposit and the Ardala 
copper-gold-molybdenum porphyry among other prospects.  The total 
resource inventory of the Salinbas project area is c. 1 million ounces 
of gold equivalent. 
 
   Beaufort Securities Limited and Panmure Gordon (UK) Limited are joint 
brokers to the Company and Beaumont Cornish Limited is the Company's 
Nominated Adviser. 
 
   For further information on Ariana you are invited to visit the Company's 
website at www.arianaresources.com. 
 
   Ends 
 
   Figure 4: http://hugin.info/138153/R/2070388/777901.pdf 
   Figure 2: http://hugin.info/138153/R/2070388/777899.pdf 
   Figure 3: http://hugin.info/138153/R/2070388/777900.pdf 
   Figure 1: http://hugin.info/138153/R/2070388/777898.pdf 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Ariana Resources plc via Globenewswire 
 
 
  http://www.arianaresources.com/s/Home.asp 
 

(END) Dow Jones Newswires

January 11, 2017 02:00 ET (07:00 GMT)

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