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Ariana Resources Plc
Summary
| Project: | Red Rabbit | |
|---|---|---|
| Deposit: | Kiziltepe | |
| Location: | Turkey | |
| Commodities: | Gold-Silver | |
| Date: | 11/18/2019 | |
| Report Code: | (no Code) | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Mine Development | |
| Report details: | 18-11-2019: Ariana Resources Plc announces an Exploration/Drilling Update report for its Kiziltepe deposit at the Red Rabbit project. Drilling results incl. 7m @ 3.34g/t Au, 54g/t Ag from 92m. Ariana Resources plc ("Ariana" or "the Company"), the explorat | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Kerim Sener (Internal) | |
| ABSTRACT: | Ariana Resources plc ("Ariana" or "the Company"), the exploration and development company with gold mining operations in Turkey, 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: “The drilling results from Arzu North demonstrate that the vein system contains significant opportunities to identify further mineralised parallel structures which sit outside of the zones modelled to date. Most importantly, we now have confirmation that the Arzu North vein system is not limited on its NW end and that significant mineralisation occurs in this area, which is not currently captured by the designed pit. We will be working on ensuring we obtain forestry access to this area such that the full strike length of a further 470m can be tested all the way to Arzu Far North. If further economic mineralisation is determined along this trend it will have a significant positive impact on the life of mine and the future economics of the operation. The Company is working on a new mineral resource estimate for the Kiziltepe Mine to include all of the new drilling results. This work will be completed once the results for the Arzu South deep drilling programme are obtained during December.” | |
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