Ariana Resources PLC Quarterly Newsletter
April 28 2015 - 3:01AM
UK Regulatory
TIDMAAU
28 April 2015
AIM: AAU
QUARTERLY NEWSLETTER
Ariana Resources plc ("Ariana" or "the Company"), the gold exploration
and development company focused on Turkey, is pleased to announce the
release of the Company's Quarterly Newsletter for shareholders detailing
the recent progress across its portfolio of gold pre-production,
development and exploration interests.
Highlights
-- Red Rabbit Gold Project development: trial mining and land acquisitions
progressing encouragingly with development being fully financed by joint
venture partners, Proccea Construction whilst the Company awaits its
final land access permits
-- Ardala/Salinbas - crystallising value of wider portfolio: Scoping Study
highlighted an NPV(8%) value of approximately US$100 million- discussions
underway with potential third parties to divest interest and crystallise
value
-- Support from new strategic investor: Compelling investment opportunity of
Ariana highlighted by recent Metal Tiger plc subscriptions
Dr. Kerim Sener, Managing Director, commented:
"Progress continues at pace across all aspects of Ariana's portfolio
which spans pre-production to greenfield exploration - and further
encouraging corporate and legislative developments during the past
quarter have reinforced these advances. Looking forward to the coming
months, we have a period of active news flow which should reflect the
progress taking place at Red Rabbit and our wider portfolio, in
conjunction with the broader support towards the mining sector which we
anticipate to be highlighted following the Turkish General Election in
June."
To view a copy of the Quarterly Newsletter, please click on the
following link to the Company's website:
http://www.arianaresources.com/investors/quarterly-updates/.
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
Saif Janjua
Loeb Aron & Company Ltd. Tel: +44 (0) 20 7628 1128
John Beresford-Peirse / Dr Frank Lucas
St Brides Partners Ltd Tel: +44 (0) 20 7236 1177
Susie Geliher / Lottie Brocklehurst
Editors' note:
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 Southern Africa and Australia. 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 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 announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX 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
HUG#1915752
http://www.arianaresources.com/s/Home.asp
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