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240% INCREASE IN JORC RESOURCE AT KOKKINOYIA
240% INCREASE IN JORC RESOURCE AT KOKKINOYIA.
About this update from Ariana Resources Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 2992U\n Ariana Resources PLC\n 02 December 2021\n \n \n \n \n 2 December\n 2021\n \n \n AIM: AAU\n \n \n \n \n \n 240% INCREASE IN JORC RESOURCE AT KOKKINOYIA SECTOR\n \n \n Ariana Resources plc (\"Ariana\" or \"the Company\"), the AIM-listed mineral exploration and development company with interests in gold mining operations in Europe, is pleased to announce the results of a review of the Mineral Resource Estimate (\"MRE\") for the Kokkinoyia Sector of the Magellan Project. \n The Project is 100% owned by Venus Minerals Ltd (\"Venus\")\n which is focused on the exploration and development of copper and gold assets in Cyprus and is 50% owned by Ariana.\n \n \n Highlights:\n \n \n · \n JORC 2012 MRE updated internally by Ariana and Venus using new and historical drilling data.\n \n \n \n \n \n · \n Total Indicated and Inferred Resource of c. 12.3 Mt at a grade of 0.31 to 2.25% Cu and 0.27 to 0.57 g/t Au across multiple zones of mineralisation at Kokkinoyia*.\n \n \n \n \n \n · \n Gold mineralisation occurs across several distinct zones, along with zinc and silver in places. \n \n \n \n \n \n · \n Exploration Target for gold established for an additional tonnage of 3-4Mt at a grade of 0.3-0.4 g/t Au, for an additional 30,000 to 70,000 oz of gold.\n \n \n \n \n \n · \n Joint UK and Cypriot partnership advancing copper mining opportunities in Cyprus.\n \n \n \n \n \n Dr. Kerim Sener, Managing Director, commented:\n \n \n \"This is an exceptional result and we are very proud of the Ariana and Venus teams having successfully completed the drilling programme and in pulling together this new resource estimate for Kokkinoyia. Not only has the overall tonnage increased by 240% but we have now successfully brought a significant part of the resources into the higher confidence Indicated category.\n \n \n \n \n \n \n \"In addition, as we had predicted, the Kokkinoyia deposit contains a substantial amount of gold, in association with copper and zinc. The fact that the deposit contains a substantial tonnage of mineralised material across several domains beyond what was already understood from the historical work bodes well for future exploration and resource drilling. We are already well on track with not only meeting but also exceeding our m...