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Ariana Resources plc : EXPLORATION UPDATE - KIZ...
Ariana Resources plc : EXPLORATION UPDATE - KIZ....
About this update from Ariana Resources Plc
[{"type":"text","content":"\n Ariana Resources plc : EXPLORATION UPDATE - KIZILTEPE16 June 2016AIM: AAUEXPLORATION UPDATE - KIZILTEPEAriana Resources plc (\"Ariana\" or \"the Company\"), the gold exploration and development company operating in Turkey, is pleased to provide an update on exploration of the Kiziltepe Sector of the Red Rabbit Gold-Silver Project in Western Turkey (\"Red Rabbit\"). Kiziltepe is being advanced towards production through a 50:50 Joint Venture (\"JV\") with Proccea Construction Co. (\"Proccea\"). The project is on target for first production in late H2 2016.Highlights:New vein system discovered near the boundary of the waste-rock dump site at Kiziltepe: initial sampling has returned rock-chip grades including 5.27g/t Au + 21.5g/t Ag, 4.87g/t Au + 8.0g/t Ag, 2.01g/t Au + 10.6g/t Ag, with more detailed mapping and sampling underway. Planning for the drilling programme in July and August is at an advanced stage and environmental permissions to drill have been granted. Drilling contract to be finalised imminently and team preparing drill-sites in advance. Karakavak operating licence recently renewed until mid-2020, enabling the Company to drill within this prospect area; advanced planning for drilling at this location to commence.Dr. Kerim Sener, Managing Director, commented: \"We are very pleased to report on progress of our Summer exploration programme at Kiziltepe, which will be focused on drilling extensions to the current resource with the objective of further resource growth. In addition to the Exploration Target we have already developed at Arzu Central, which will be tested in the upcoming drilling programme, we are excited by the discovery of a new vein system near the boundary of the waste-rock dump site (Figure 1). This vein system was revealed as a result of earthmoving activity at that location. Initial sampling from this area has returned several high-grade rock-chip results, which are now being followed up. Due to its proximity to the waste-rock area, we are planning on initial drill-testing at this locality towards the end of the 2016 drilling programme. We are also very pleased to have been granted a significant extension to our operating licence for the Karakavak prospect, located 10km to the northeast of Kiziltepe, enabling us to drill at this locality for t...