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Ariana Resources Plc
Summary
| Project: | Red Rabbit | |
|---|---|---|
| Deposit: | Kiziltepe - Arzu Central | |
| Location: | Turkey | |
| Commodities: | Gold-Silver | |
| Date: | 1/24/2017 | |
| Report Code: | (no code) | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Mine Development | |
| Report details: | 24-1-2017: 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. 12m @ 1.96g/t Au, 34.45g/t Ag from 136m . Ariana | |
| 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 results for its Phase Two drilling programme of 2016, completed in December at the Kiziltepe Project. Kiziltepe is part of the Red Rabbit Joint Venture with Proccea Construction Co. and will be 50% owned by Ariana once the mine is operational in Q1 2017. "We are very excited to have confirmed the continuity of mineralisation beneath the cap rocks at Arzu Central. These initial results demonstrate for the first time that an extensive and still only partially tested vein system is developed over 650m of strike connecting Arzu South with Arzu North. Significantly the system appears to be more structurally complex than first thought and it appears to represent a structural splay which widens from Arzu South towards Arzu North and Derya. Future work will be directed towards the further expansion of the planned open pits at Arzu South, Arzu North and Derya in order to capture as much economic mineralisation as possible in this area. Alternatively, the Company may consider the development of a potential underground operation at Arzu Central in the event that further targeted drilling is successful in identifying higher-grade zones that could be accessed by underground development." | |
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