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Ariana Resources Plc
Summary
| Project: | Red Rabbit | |
|---|---|---|
| Deposit: | Kiziltepe - Arzu Central | |
| Location: | Turkey | |
| Commodities: | Gold-Silver | |
| Date: | 10/12/2016 | |
| Report Code: | (no code) | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Mine Development | |
| Report details: | 12-10-2016: Ariana Resources Plc announces an Exploration/Drilling Update report for its Kiziltepe - Arzu Central deposit at the Red Rabbit project. JV with Proccea Construction Co. - drilling results incl. 10m @ 2.4g/t Au, 28.3g/t Ag from 72m. Ariana Res | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Dr Kerim Sener (Internal) | |
| ABSTRACT: | 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. 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. | |
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