Business
Acquisition of Muratdag Gold Project
Acquisition of Muratdag Gold Project.
About this update from Ariana Resources Plc
[{"type":"text","content":"\n \n\n\n\n30 April 2009\nAIM / PLUS Markets: AAU\n\n ACQUISITION OF THE MURATDAG GOLD PROJECT\n\nAriana Resources plc (\"Ariana\" or \"the Company\"), the gold\nexploration and development company focused on Turkey, announces the\nacquisition of the Muratdag Gold Project from Newmont Altin\nMadencilik Limited Sirketi, a subsidiary of Newmont Mining\nCorporation (NYSE:NEM) (\"Newmont\").\n\nDr. Kerim Sener, Managing Director, commented:\n\n\"The acquisition of the Muratdag Project has helped secure a foothold\nfor the company in the highly prospective Muratdag exploration\nregion, which is located approximately 130 km to the east of Sindirgi\nand 75km south east of Tavsan. The Project is an advanced\nexploration asset and its addition to the Company's exploration\nportfolio has further increased the value of our project pipeline in\nwestern Turkey. The project is located on the same regionally\nmineralised stratigraphic horizon as our Tavsan and Demirci projects.\n\n\"While our focus remains on the development of the Sindirgi and\nTavsan projects in the near to medium term, we are also ensuring that\nour longer-term future in Turkey is secured by the acquisition of\nadvanced exploration projects which we intend to advance up the\nproject value curve.\"\n\nAbout the Muratdag Project\n\nThe Muratdag Project contains extensive areas of listwaenite-hosted\ngold mineralisation which are located within a thrust-sequence of\nUpper Cretaceous ophiolite and Jurassic carbonates, lying in the\nvicinity of an Oligocene granitoid. The gold mineralisation is\nassociated with silicification and haematite/limonite alteration.\nThere are several geological similarities between this project and\nthe Tavsan and Demirci gold projects currently being explored by the\nCompany. All three projects lie on the same stratigraphic horizon,\nwhich is understood to be a regionally significant for gold\nmineralisation.\n\nA 1.5 x 1.5 km soil geochemical anomaly, defined by the 50 ppb Au\nthreshold, has been located on the project; gold mineralised\nlistwaenite in this area demonstrates grades up to 2.1 g/t Au in\nrock-chip samples. Some of the higher grade gold samples have been\ncollected from areas coincident with high ground magnetic anomalism.\nSuch areas are high priority exploration drill targets.\n\nA large partially eroded silica cap overlying the oph...