Ariana Resources PLC Drilling Programme - Kiziltepe sector (6058C)
October 19 2015 - 2:00AM
UK Regulatory
TIDMAAU
RNS Number : 6058C
Ariana Resources PLC
19 October 2015
19 October 2015
AIM: AAU
DRILLING PROGRAMME: KIZILTEPE SECTOR
Ariana Resources plc ("Ariana" or "the Company"), the gold
exploration and development company focused on Turkey, is pleased
to announce that it has commenced a new drilling programme on the
Kiziltepe Sector of the Red Rabbit Gold Project ("Red Rabbit").
Highlights:
-- 3,500 to 4,000m two-rig drilling programme commenced at
Kiziltepe, which is expected to conclude in December.
-- Reverse circulation (RC) and diamond drilling currently
focused on several deep holes testing for potential resource
extensions along the Arzu South vein at Kiziltepe.
-- Resource drilling planned at Kizilcukur and exploration drilling planned at Kepez Far West.
-- Several new drilling targets proximal to Kiziltepe have also
been defined from recent modelling and these areas will be tested
in future drilling programmes.
Dr. Kerim Sener, Managing Director, commented:
"We are very excited to get the next phase of exploration and
resource drilling underway on several prospects within the
Kiziltepe Sector of Red Rabbit. Our initial targets have been
defined along strike and down-dip of the Arzu South vein and we
will be testing these areas as a matter of priority. We will also
commence drilling at the Kizilcukur prospect, upon which we have
already defined an additional Inferred resource of 16,600 oz gold,
and drill-test the Kepez Far West area for the first time.
This drilling programme forms part of our strategy to increase
our resource base across the Kiziltepe Sector, while our partners
Proccea Construction Co. continue to make progress on mine
construction. We are now active on several fronts, with
construction teams on site working in parallel with our exploration
and drilling crews. We look forward to keeping the market updated
on our exploration and development progress in the coming
months."
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
Loeb Aron & Company Ltd. Tel: +44 (0) 20
7628 1128
John Beresford-Peirse
IFC Advisory Tel: +44 (0) 20
3053 8671
Tim Metcalfe
Graham Herring
Heather Armstrong
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
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 475,000 ounces of gold equivalent.
Beaufort Securities Limited and Loeb Aron & Company Ltd. 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
This information is provided by RNS
The company news service from the London Stock Exchange
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