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Ariana Resources Plc
Summary
| Project: | Red Rabbit | |
|---|---|---|
| Deposit: | Kiziltepe - Banu, Arzu Far South | |
| Location: | Turkey | |
| Commodities: | Gold-Silver | |
| Date: | 1/30/2017 | |
| Report Code: | (no code) | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Mine Development | |
| Report details: | 30-1-2017: Ariana Resources Plc announces an Exploration/Drilling Update report for its Kiziltepe - Banu, Arzu Far South deposit at the Red Rabbit project. JV with Proccea Construction Co. - Drilling results incl. 3m @ 3.36g/t Au from 61m. Ariana Resource | |
| Resources: | (Resource, M+I): 158kt @ 2.3g/t Au, 53g/t Ag for 11700oz Au, 272000oz Ag at Banu | |
| 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 from its Phase Two drilling programme of 2016, completed during early 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. "Adding a further 125m to the mineralised vein strike at Banu potentially represents a meaningful addition to our resource at this locality. The grades encountered over at least 75m of this additional vein strike demonstrate the potential for extraction from an extended open-pit. Meanwhile, at Arzu Far South we have discovered a vein array which is highly anomalous in gold and particularly silver, which appears to represent the top of the system. Further drilling, targeting greater depths, may be warranted in this area. In addition, previous high-grade drilling results from the Fidan Vein require further investigation in the context of the Arzu Far South discovery. Notably a single shallow intercept of 4.75m @ 4.26 g/t Au and 65.2 g/t Ag from 5.7m depth, which occurs between Fidan and Arzu Far South must be followed-up as a priority. Also a 250m long high-grade vein system sampled and mapped at Banu West still requires drill testing." | |
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