Business
Acquisition of Four New Exploration Properties
Acquisition of Four New Exploration Properties.
About this update from Ariana Resources Plc
[{"type":"text","content":"\n \n\n\n\n\n3 June 2011\nAIM / PLUS Markets: AAU\n\n\n ACQUISITION OF FOUR NEW EXPLORATION PROPERTIES\n\nAriana Resources plc (\"Ariana\" or \"the Company\"), the gold exploration and\ndevelopment company focused on Turkey, is pleased to announce that further to\nthe announcement of 16 March 2011, the Company has signed a Sale and Purchase\nAgreement and Net Smelter Agreement relating to the acquisition of four\nprospective exploration licences in western Turkey from AIM-listed Turkish\nexplorer, KEFI Minerals plc (\"KEFI\").\n\nHighlights:\n\n * Acquisition of four exploration licences covering two highly\n prospective project areas; Kizilcukur and Muratdag\n\n\n * 2km of mineralised quartz veins containing high-grade gold and\n silver delineated on Kizilcukur project - previous assay results\n of up to 152g/t gold and 1,320g/t silver\n\n\n * Acquisition of Kilizcukur project provides Ariana with access to\n the entire gold mineralised trend within the Sindirgi Gold\n Corridor which is contained by the Company's flagship Red Rabbit\n Gold Project\n\n\n * Gold and silver soil geochemical anomaly identified on the\n Muratdag project, which has not previously been drill tested\n\n\n * Acquired properties demonstrate strong synergies with the\n Company's proximal Red Rabbit Gold Project which is being fast-\n tracked towards production in 2012\n\n\n\nDr. Kerim Sener, Managing Director, commented:\n\n\"This is an important transaction for Ariana, one which furthers strengthens our\ngold portfolio in Western Turkey and provides additional exposure to two highly\nprospective early stage gold development projects. Â In particular, the synergies\nbetween these new projects and our flagship Red Rabbit Gold Project make this a\nparticularly attractive strategic acquisition for the Company. Â Development at\nRed Rabbit continues at pace ahead of production next year, and the\nconsolidation of additional licences in the locality provides us with further\nresource uplift potential, which, in the longer term may provide the opportunity\nto significantly extend the mine life of Red Rabbit and improve the financial\nreturns of the wider project area.\n\n\"Our near term objective is to commence exploration campaigns on the new\nlicences with the intention of delineating a total JORC resource inventory for\nthe Red Rabbit region in exc...