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Ariana Resources Plc
Summary
| Project: | Red Rabbit | |
|---|---|---|
| Deposit: | Kiziltepe | |
| Location: | Turkey | |
| Commodities: | Gold-Silver | |
| Date: | 4/23/2020 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Mine Development | |
| Report details: | 23-4-2020: Ariana Resources Plc announces a Resource Estimation report for its Kiziltepe deposit at the Red Rabbit project. Updated Mineral Resource Estimate for Project. Ariana Resources plc ("Ariana" or "the Company"), the AIM-listed exploration and dev | |
| Resources: | (Resources, M+I): 2.7Mt @ 2.85g/t Au, 46.62g/t Ag | |
| CP/QP: | [Resources]: Ruth Bektas (Tetra Tech/Coffey Mining Ltd.) | |
| ABSTRACT: | Ariana Resources plc ("Ariana" or "the Company"), the AIM-listed exploration and development company operating in Europe, is pleased to announce an update of its JORC compliant Mineral Resource Estimate for 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"). Following the completion of a Reverse Circulation ("RC") drilling programme for a total of 3,162 meters during the Summer of 2019, the geological teams at Ariana and Zenit in conjunction with consultants Coffey, A Tetra Tech Company, undertook a new Mineral Resource Estimate for Kiziltepe. The recent RC drilling coupled with all previous drilling and channel sampling results of the veins at Kiziltepe were used for the estimation. The new Kiziltepe JORC 2012 compliant Mineral Resource estimate is based on 171 diamond, 164 RC, 15 rotary air blast ("RAB") drill holes and 130 rock-saw channels, representing a total of 30,396 m of sampling. Ariana completed the wireframe geological modelling of the mineralisation zones in Leapfrog (see JORC Table 1, below). | |
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