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Ariana Resources plc : First Drilling Results f...
Ariana Resources plc : First Drilling Results f....
About this update from Ariana Resources Plc
[{"type":"text","content":"\n Ariana Resources plc : First Drilling Results from Karakavak6 February 2017AIM: AAUFIRST DRILLING RESULTS FROM KARAKAVAK Ariana Resources plc (\"Ariana\" or \"the Company\"), the gold exploration and development company operating in Turkey, is pleased to announce results for its first drilling programme conducted at the Karakavak prospect, which is part of the Kiziltepe Sector. Kiziltepe is part of the Red Rabbit Joint Venture with Proccea Construction Co. and will be 50% owned by Ariana once the mine is operational in Q1 2017. Highlights:Initial drilling at the Karakavak prospect demonstrates potential for a low strip-ratio open-pittable resource based on only 8% of the vein system tested to date. A total strike of 180m of outcropping veins were tested with best intercepts including 4m @ 1.72g/t Au, 3m @ 1.11g/t Au and 3m @ 1.06g/t Au all from within about 10m from surface. Vein orientation and geochemistry suggests development high in the epithermal system; potential to identify more steeply-dipping feeder structures. A further 2,150m of gold-bearing outcropping veins still remain untested by drilling.Dr. Kerim Sener, Managing Director, commented: \"These encouraging initial results from the Karakavak prospect confirm the potential in this area for several shallow open-pittable resources as satellites to the Kiziltepe Mine operations. The drilling has demonstrated that the vein systems have unusual orientations, dipping at approximately 35-45 degrees to the south and that they likely developed very high in the epithermal system. In particular, this is demonstrated by the lack of silver and the occurrence in this area of higher concentrations of metals typically associated with the uppermost parts of such systems.Trial mining at this location will proceed on the basis of this new data and we will aim to permit several other areas across the Karakavak prospect in order to conduct further work. An open-pittable resource target has been established in this area to guide our strategy for further exploration and development. We are confident that, in time, Karakavak will meaningfully add to the mineable resources within the Kiziltepe Sector.\" Drilling ProgrammeThe Karakavak prospect was drill tested as part of the 2016 Phase Two drilling programme, whic...