Business
Acquisition of Surface Rights
Acquisition of Surface Rights.
About this update from Ariana Resources Plc
[{"type":"text","content":"\n Ariana Resources PLC\n18 July 2007\n\n\n \n\n\n\n\n\n\n\n\n18 July 2007\nAIM: AAU\n\n\n ACQUISITION OF SURFACE-RIGHTS: KIZILTEPE PROSPECT\n\n\nAriana Resources plc ('Ariana' or 'the Company'), the gold exploration company\nfocused on Turkey, is pleased to announce the acquisition of surface-rights on\npart of the Arzu South Vein at the Kiziltepe Prospect.\n\n\nHighlights\n\n\n • Three blocks of land purchased for a total of 28,775m2\n\n\n • Surface-rights over half of the Arzu South Vein have been secured\n\n\n • Necessary operational and environmental permits are in place\n\n\n • Bulk-sampling of the Arzu Vein to be initiated by September 2007\n\n\n\nThe Company has completed the purchase of three registered blocks of\nagricultural land which lie above the indicated resource at the Arzu South Vein.\nThe land acquired totals 28,775m2 and covers half of the total exposed Arzu\nSouth vein system. A payment of 31,900 YTL (approx. £12,300) has been made to\nthe original land-owners, representing a cost of approximately 43 pence per\nmetre squared. The deeds have been transferred to our operating subsidiary in\nTurkey (Galata Madencilik San. ve Tic. Ltd. Sti.). The acquisition of\nsurface-rights complement the mining, forestry and other permits the Company has\nalready secured for part of the Kiziltepe prospect.\n\n\nThe purchased land provides the Company with secure surface-rights over an\nimportant part of the Arzu vein system. This is significant as approximately 100\ntonnes of material is scheduled to be extracted from the vein by bulk-sampling\nin September 2007, which will involve modification of the ground surface. This\ntrial-mining will help to derive important operational data for a scoping study\nand provide adequate material for second-stage metallurgical test-work.\n\n\nDr. Kerim Sener, Managing Director, commented:\n\n\n'The acquisition of the surface-rights represents an important step for the\nCompany towards achieving its objective of establishing an operation at\nKiziltepe. Towards the end of the year we will initiate bulk-sampling from an\narea of the Arzu vein system as part of our planned scoping study. The purchase\nof overlying agricultural land and our existing forestry permits provide us with\nthe ability to undertake this trial mining.'\n\n\n'We would also like to take this opportunity to expres...