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Ariana Resources Plc
Summary
| Project: | Red Rabbit | |
|---|---|---|
| Deposit: | Kepez | |
| Location: | Turkey | |
| Commodities: | Gold-Silver | |
| Date: | 5/31/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Mine Development | |
| Report details: | 31-5-2018: Ariana Resources Plc announces a Resource Estimation report for its Kepez deposit at the Red Rabbit project. JV with Proccea Construction Co. - Updated mineral resource estimate at Kepez deposit. Ariana Resources plc ("Ariana" or "the Company") | |
| Resources: | (Resource, Total): 370.85Kt @ 2.0g/t Au, 13.8g/t Ag for 23854oz Au, 164348oz Ag contained | |
| CP/QP: | [Resources]: Alfred Gilman (Odessa Resources Pty Ltd.) | |
| ABSTRACT: | Ariana Resources plc ("Ariana" or "the Company"), the exploration and development company with gold mining operations in Turkey, is pleased to announce a Joint Ore Reserves Committee ("JORC") Resource update for the Kepez Prospect ("Kepez" or "the Prospect"). Kepez is part of the Red Rabbit Joint Venture ("JV") with Proccea Construction Co. and is 50% owned by Ariana through its shareholding in Zenit Madencilik San. ve Tic. A.S. ("Zenit"). Dr. Kerim Sener, Managing Director, commented: "This resource update for Kepez indicates the potential to add at least one year of production from this satellite area to the Kiziltepe mining operations. Furthermore, the higher confidence Indicated resource at Kepez North, which contains approximately 60,000 tonnes at 4.6 g/t Au and 34.7 g/t Ag, shows potential for several months of high-grade production. This part of the resource has also been shown to have good metallurgical characteristics from previous bulk testwork. "We envisage this area being developed as a series of shallow open-pits, developed as satellites to the Kiziltepe mining operations, within short trucking distance from the processing plant. In addition, we believe there is scope to enhance this resource further and additional drilling is being planned by the joint venture accordingly. The proximity of this area to the Kiziltepe operations makes such satellite operations highly viable." | |
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