Business
2023 Half-Year Production Results
2023 Half-Year Production Results.
About this update from Ariana Resources Plc
[{"type":"text","content":"\n\n\n\n\n\n\n\n\n\n\n\n\n\n16 August 2023\nAIM: AAU\n2023 HALF-YEAR PRODUCTION RESULTS\nAriana Resources plc (\"Ariana\" or \"the Company\"), the AIM-listed mineral exploration and development company with gold mining interests in Europe, is pleased to announce its half-year production results for 2023 for the Kiziltepe Mine (\"Kiziltepe\" or \"the Project\") in Turkey. Kiziltepe is 23.5% owned by Ariana through its shareholding in Zenit Madencilik San. ve Tic. A.S. (\"Zenit\").\nProduction Update*:\n· Gold production guidance for 2023 from Kiziltepe is maintained at c.18,000 ounces of gold*; production during H1 2023 was 9,646 ounces of gold.\n· Average monthly mine production during H1 2023 was c.20,600 tonnes of ore and a stockpile of over 104,000 tonnes is being maintained, representing 3 months of production capacity.\n· Mining operations are primarily continuing across Arzu North and Banu, with pushbacks planned across all previously mined pits (Figure 1 & 2).\n· Construction operations are continuing at the Tavsan Mine; several process plant components have arrived at site and are due to be installed over the coming months (Figure 3).\n* Silver production guidance is not provided, as silver is treated as a by-product credit. All figures are stated gross to the Project unless otherwise stated.\nTo read a pdf version of the release, please click here:http://www.rns-pdf.londonstockexchange.com/rns/4006J_1-2023-8-15.pdf\nDr. Kerim Sener, Managing Director, commented:\n\"Kiziltepe continues to perform well, in line with our expectations, and we are pursuing opportunities to further extend the life of mine, through further exploration drilling campaigns. The drilling is ongoing at a number of satellite project areas, such as Kizilcukur, and a new drilling plan based in part on new geophysical targets encompassing the whole of the Kiziltepe Sector is currently under review.\nOur most recent drilling programme at Kiziltepe has identified some opportunities to build on the resource base in the immediate vicinity of known veins, as announced recently. Further work on optimisation of the resource will be undertaken to determine the potential for further pushbacks of the current open pits. Several pushbacks are already underway at Arzu North and Derya,...