AAU Ariana Resources Plc

 
TIDMAAU 
 
   12 October 2016 
 
   AIM: AAU 
 
   POSITIVE DRILLING RESULTS FROM ARZU CENTRAL 
 
   Ariana Resources plc ("Ariana" or "the Company"), the gold exploration 
and development company operating in Turkey, is pleased to announce 
further results for its Phase One drilling programme of 2016, completed 
during early September at the Kiziltepe Project.  The results reported 
here relate to drilling within the Arzu Central target area at 
Kiziltepe.  Kiziltepe is part of the Red Rabbit Joint Venture with 
Proccea Construction Co. and will be 50% owned by Ariana once mine 
construction is completed in Q416. 
 
   Highlights: 
 
 
   -- Drilling intercepts the widest zone of sulphidic quartz vein 
      mineralisation ever encountered on the Kiziltepe Project, with at least 
      20m of true width, ending in mineralised quartz. 
 
   -- Best intercepts overall include 10m @ 2.4g/t gold + 28.3g/t silver, 15m @ 
      1.5g/t gold + 16.4g/t silver, 6m @ 2.3g/t gold + 55.2g/t silver and 5m @ 
      1.2g/t gold + 34.5g/t silver. 
 
   -- 1,086m of Reverse Circulation ("RC") drilling for six initial holes was 
      completed in Arzu Central, in order to improve understanding of the 
      geometry of the mineralisation ahead of Phase Two drilling. 
 
   -- New mineralisation identified in the footwall of the Arzu North vein 
      system, which appears to extend beneath the cap rock sequence and remains 
      otherwise untested. 
 
   -- Preparations for Phase Two of the 2016 drilling programme are complete, 
      with at least 3,500m currently planned. 
 
 
   Dr. Kerim Sener, Managing Director, commented: 
 
   "We are exceptionally pleased with these drilling results, as they 
collectively and unequivocally demonstrate the continuity of 
mineralisation within the Arzu Central target area.  The results confirm 
that the mineralised structure remains consistent for at least a further 
200m beyond the northern end of the current Arzu South pit and, most 
significantly, that the vein system appears to be increasing in width. 
Meanwhile, zones of stockwork mineralisation and alteration have been 
identified in three further holes along strike, which potentially 
narrowly missed the vein due to targeting that was based on the original 
model.  We now know that the vein is likely to be positioned 10-20 
metres to the south of the original target. 
 
   Following a revision of our drill targeting based on these results, we 
are now well-positioned to execute Phase Two of our drilling programme 
in late October for at least 3,500m.  There is clearly potential for us 
to start the work on converting the Exploration Target established for 
Arzu Central in to a JORC Inferred resource with substantial new 
drilling, some of which will be completed as part of the current 
programme." 
 
   Drilling Programme 
 
   Final results have now been received for the drilling completed within 
the Arzu Central target area as part of Phase One of the 2016 drilling 
programme. These results include the assay data for six initial holes 
drilled into the Arzu Central (or Gap Zone) target.   A total of 3,002m 
of Reverse Circulation ("RC") drilling has now been completed as part of 
Phase One, with 1,086m located in the Arzu Central area.  A further 
3,500 meters of RC drilling has been planned for Phase Two of the 2016 
programme, scheduled to start in late October. 
 
   Drilling in the Arzu Central area during the 2016 campaign required a 
two-phase approach. Before a full exploration drilling programme could 
be designed to extensively test the potential for significant 
mineralisation within Arzu Central, the geological team planned several 
"pilot" holes to generate detailed information on: 1) the geometry of 
non-outcropping mineralisation along the NW end of Arzu South and; 2) 
the morphology of the overlying pumice ignimbrite cap rock, which 
obscures any surface indications of mineralisation across Arzu Central. 
 
   The results received for Phase One drilling at Arzu Central has 
indicated that the orientation of mineralisation between Arzu South and 
Arzu North is orientated at 315 degrees, differing by approximately 7 
degrees from the previous interpretation (322 degrees). This was 
identified by the drilling of two holes (KTP-RC19-16 and KTP-RC21-16), 
which were positioned to target mineralisation from the northern most 
extents of known vein intercepts at the NW end of Arzu South. Both holes 
intercepted significant and wide mineralised quartz and stockwork zones, 
with best results returning 10m @ 2.4g/t Au + 28.3g/t Ag, 6m @ 2.3g/t Au 
+ 55.2g/t Ag and 5m @ 1.2g/t Au + 34.5g/t Ag.  The latter two intercepts 
were identified within a 50m (downhole) quartz vein and sulphidic 
stockwork zone ending in mineralisation, which due to the oblique nature 
of drilling in to this target, is estimated to be at least 20m wide 
(true width).  This is the widest continuous zone of mineralisation ever 
encountered at Kiziltepe and is highly significant to future 
exploration. 
 
   A further four holes were drilled directly into the original Arzu 
Central target. Two were situated on the Arzu South side of Arzu Central, 
and the remaining two were drilled on the Arzu North side of Arzu 
Central. Three of these holes (KTP-RC09-16, KTP-RC10-16 and KTP-RC11-16), 
were positioned to test the original Arzu Central target which was 
developed by extrapolating the structure between Arzu South and Arzu 
North (Figure 1).  Instead, these holes confirmed the presence of a 
greater thickness of pumice ignimbrite cap rock than originally modelled 
(by up to 40m).  Also towards the north-east the cap rock unit dips at 
30 degrees to the north, which is significantly steeper than expected. 
Some stock-work and narrow vein mineralisation, typical of that seen in 
the Arzu North footwall, was intercepted towards the end of hole 
KTP-RC11-16, suggesting that it may have just missed the main structure. 
Meanwhile KTP-RC25-16 intercepted significant mineralisation in the 
immediate footwall of Arzu North, for 15m @ 1.5g/t Au + 16.4g/t Ag, 
indicating that a completely untested additional vein is located in this 
position.  Importantly, this hole identified the potential for other 
mineralised structures occurring between Arzu North and Derya. 
 
   From this initial round of drilling, it is clear that significant 
mineralisation occurs within the Arzu Central target zone (Figure 1 and 
2).  Importantly, this mineralisation trends in a manner different to 
that originally modelled and so planned holes for Phase Two of the 2016 
programme have been reviewed and revised in the light of the new data. 
 
   Table 1:  Significant RC drilling results from the 2016 programme, 
arranged in order of the gram x metre intercepts (down-hole gold 
equivalent grade multiplied by intercept thickness).  The intercepts 
reported in this table are the down-hole lengths.  Intercept grades have 
been calculated using a 0.5 g/t Au minimum cut-off with up to 2m 
internal waste allowed. 
 
 
 
 
                                                                     Grade Au 
                                 Interval    Grade Au    Grade Ag     Equiv. 
  Hole ID     From (m)  To (m)     (m)        (g/t)       (g/t)       (g/t) 
KTP-RC21-16         72      82          10         2.4        28.3         2.9 
KTP-RC25-16         12      27          15         1.5        16.4         1.7 
KTP-RC19-16        125     131           6         2.3        55.2         3.2 
KTP-RC19-16        154     159           5         1.2        34.5         1.7 
KTP-RC11-16        114     117           3         0.8        15.0         1.0 
 
 
 
   FIGURE 1 IS ATTACHED http://hugin.info/138153/R/2048379/765861.pdf 
 
   Figure 1 shows a three dimensional image looking down on the Arzu 
Central area, showing the current Whittle pit shells.  The positions of 
all new and historic drill holes are shown, with drill traces and 
intercept locations.  Several new holes were located to intercept the 
mineralisation beneath the pumice ignimbrite cap rock sequence and are 
representative of part of the Arzu Central target area.  Several new 
vein trends were identified and these will be tested as part of the 
Phase Two programme. 
 
   FIGURE 2 IS ATTACHED http://hugin.info/138153/R/2048379/765862.pdf 
 
   Figure 2 shows a long-section through the Arzu structure showing the 
position of new drilling.  The contours show the gram x metre 
intercepts.  The approximate outlines of the open-pits at Arzu South and 
North are also shown and these give an indication of the limits of 
previous resource modelling.  The continued identification of 
mineralisation beyond these areas in to Arzu Central is encouraging and 
provides further resource upside.  Note that the upper ignimbrite is not 
flat-lying and that it thickens towards the centre of the Arzu Central 
target. 
 
   Sampling and Assaying Procedures 
 
   269 samples were selected based on geological logging of RC chips during 
drilling and sent for assay. All samples from the drilling programme 
undertaken by Ariana Resources plc, were prepared and assayed by 30g 
fire assay, and ICP-MS multi-element analysis, at the ALS Global 
laboratory in Izmir.  Routine re-assaying of all samples assaying 
greater than 10 g/t of gold and 100 g/t of silver has also been 
completed by ALS Global.  Standard, blank and duplicate samples are 
being used in the sample batches, which is in line with the Company's 
quality control procedures.  Laboratory sample preparation, assaying 
procedures and chain of custody are appropriately controlled.  The 
Company maintains an archive of reference RC chip samples, in addition 
to all sample pulps and splits. 
 
   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 
 
 
 
   Editor's Notes: 
 
   Dr Kerim Sener, BSc (Hons), MSc, PhD, is the Managing Director of Ariana 
Resources plc.  A graduate of the University of Southampton in Geology, 
he also holds a Master's degree from the Royal School of Mines (Imperial 
College, London) in Mineral Exploration and a doctorate from the 
University of Western Australia.  He is a Fellow of The Geological 
Society of London and has worked in geological research and mineral 
consultancy in Africa, Australia and Europe.  He has read and approved 
the technical disclosure in this regulatory announcement. 
 
   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 selected on the basis of 
its in-house geological and remote-sensing database, on its own in 
western Turkey and in Joint Venture with Eldorado Gold Corporation in 
north-eastern Turkey.  Eldorado owns 51% of this joint venture and are 
fully funding all exploration work on the JV properties, while Ariana 
owns 49%.  The total resource inventory within this JV is 1.09 million 
ounces of gold. 
 
   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, are 
presently being assessed as to their economic merits and now form part 
of a Joint Venture with Proccea Construction Co.  The total resource 
inventory at the Red Rabbit Project stands at c. 525,000 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. 
 
   Glossary of Technical Terms: 
 
   "Ag" Silver 
 
   "Au" Gold 
 
   "g/t" grams per tonne 
 
   "m" Metres 
 
   "oz" Ounces 
 
   Ends 
 
   FIGURE 1: http://hugin.info/138153/R/2048379/765861.pdf 
   FIGURE 2: http://hugin.info/138153/R/2048379/765862.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 
 

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