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Ariana Resources Plc
Summary
| Project: | Red Rabbit | |
|---|---|---|
| Deposit: | Kiziltepe | |
| Location: | Turkey | |
| Commodities: | Gold-Silver | |
| Date: | 12/17/2019 | |
| Report Code: | (no Code) | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Mine Development | |
| Report details: | 17-12-2019: Ariana Resources Plc announces an Exploration/Drilling Update report for its Kiziltepe deposit at the Red Rabbit project. Drilling results incl. 20m @ 3.16g/t Au, 30.85g/t Ag from 66m. Ariana Resources plc ("Ariana" or "the Company"), the AIM- | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Kerim Sener (Internal) | |
| ABSTRACT: | Ariana Resources plc ("Ariana" or "the Company"), the AIM-listed exploration and development company, is pleased to announce recent resource drilling results obtained from the Kiziltepe Mine ("Kiziltepe" or "the Project"). Kiziltepe 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: "These drilling results demonstrate the continuity of the Arzu South mineralised structure at depth which may form the basis for establishing an underground mineral resource. The structure clearly extends to a depth of about 50-100m beneath the bottom of the current open pit. Grades and widths of gold mineralisation encountered suggest that this structure has the potential to be developed via underground mining methods, although additional drill-testing is now warranted to determine the extent of this opportunity. "We look forward to planning this follow-up drilling and also to undertake a new resource estimate for the Kiziltepe Mine, encompassing areas drill-tested in the past year and including all known veins. We are expecting to conclude this resource estimation work during Q1 2020, with a view to identifying opportunities to extend mine life beyond the eight years determined in the Feasibility Study | |
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