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Ariana Resources Plc
Summary
| Project: | Red Rabbit | |
|---|---|---|
| Deposit: | Kiziltepe - Arzu South | |
| Location: | Turkey | |
| Commodities: | Gold-Silver | |
| Date: | 9/14/2016 | |
| Report Code: | (no code) | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Mine Development | |
| Report details: | 14-9-2016: Ariana Resources Plc announces an Exploration/Drilling Update report for its Kiziltepe - Arzu South deposit at the Red Rabbit project. JV with Proccea Construction Co. - drilling results incl. 7m @ 8.5g/t Au, 26.2g/t Ag from 14m. Ariana Resourc | |
| 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 initial results for its Phase One drilling programme of 2016, completed during early September at the Kiziltepe Project. The results reported here 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. In late July 2016, a Reverse Circulation (RC) drilling programme was initiated on the Kiziltepe mine area, within the Red Rabbit Project. The drilling work was carried out by IDC Sondaj Muhendislik ve Insaat Ltd., supervised by the Ariana exploration team, and team members from Ariana's Turkish subsidiary, Galata Madencilik San. ve Tic. Ltd. ("Galata"). A two phase approach was employed for the project, giving the team flexibility to adjust and re-plan holes as drilling advanced and as results returned. Samples were sent to the ALS Global laboratory in Izmir in batches according to the programmes objectives. Phase One of the 2016 drilling programme has now been completed for a total of 3,002m for 25 RC holes. The team have also completed all sample dispatch to the laboratory. All analytical results are expected to have been returned within the next two to three weeks. Based on the success of the Phase One programme, we will be completing revisions to our Phase Two programme (for up to an additional 2,500m), with a plan to restart drilling during October. The primary objective for Phase Two will be to drill the deeper holes on the project, which will complete testing of the Arzu Central mineralisation under the pumice ignimbrite cap. Further updates on Arzu Central will be provided as final results from Phase One are returned later this month. | |
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