Ariana Resources (LON:AAU) reports robust results from its phase one drilling programme of 2016, completed during early September at the Kiziltepe project in Turkey.
The results relate to drilling at the NW end of the Arzu South vein 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.
- Completion of 843 metres of reverse circulation drilling at the NW end of Arzu South, targeting the extension of the vein system beneath cover towards the Arzu Central target area.
- Best intercepts include, 7m @ 8.5g/t Gold + 26.2g/t Silver, 11m @ 3.7g/t Gold + 75.4g/t Silver and 13m @ 3.2 g/t Gold + 37.7 g/t Silver*. Newly discovered vein system which trends parallel to Arzu South was drill-tested for the first time; now referred to as Arzu South Parallel ("ASP").
- New veins tested over 300 metres along ASP trend, with best intercepts including 4m @ 3.5 g/t Gold + 49.6g/t Silver, 6m @ 2.1g/t Gold + 27.4g/t Silver and 6m @ 1.0g/t Gold + 12.6 g/t Silver.
-Drilling confirms the potential to extend the Arzu South pit to the NW, enabling access to mineralisation which lies beneath the pumice ignimbrite cap rock sequence and improves the potential for future underground operations.
-Majority of intercepts occur within, just below or to the southern edge of the 2016 Whittle optimised pit shell, which increases the potential volume of mineralisation capable of being mined from the NW pit extension.
Managing director Dr. Kerim Sener said: "These results represent an encouraging advancement of our plans to extend the Arzu South open-pit by a further 200m to the NW from the original feasibility pit design (650m in length).
"This follows from the confirmation of good mineralisation beneath the pumice ignimbrite cap rock sequence in this location and bodes very well for the discovery of further mineralisation beneath cover within the Arzu Central target area.
"The JV company is currently working on a three-staged pit design to optimise cashflow from the operation at Arzu South and the confirmation of mineralisation through this drilling increases the probability that we will need to consider a fourth (expanded) stage or develop an underground operation in this area."
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