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Ariana Resources plc : Kiziltepe Operational Up...
Ariana Resources plc : Kiziltepe Operational Up....
About this update from Ariana Resources Plc
[{"type":"text","content":"\n Ariana Resources plc : Kiziltepe Operational Update6 June 2017AIM: AAUKIZILTEPE OPERATIONAL UPDATE Ariana Resources plc (\"Ariana\" or \"the Company\"), the exploration and development company operating in Turkey, is pleased to provide the following operational update from the Kiziltepe Mine (\"Kiziltepe\" or \"the Project\"). Kiziltepe is part of the Red Rabbit Joint Venture with Proccea Construction Co. and is 50% owned by Ariana.Highlights:Processing plant operating to design specifications, with mill availability having increased to over 95% during May 2017. Operational enhancements now being considered to increase mill throughput, currently targeting in excess of 180,000 tpa (up from design plan of 150,000 tpa). Process recoveries of gold and silver are currently trending considerably higher than feasibility-study expectations and leach times are faster than predicted. Ore grade input in to the mill has been increased during ramp-up and averaged c. 2.5 g/t gold and 24 g/t silver in May 2017, with further increases expected during H2 2017. Grade-control sampling has identified additional ore zones at the NW end of Arzu South that sit outside of the resource block model and will now be scheduled for production. Doré pours now occurring approximately weekly with c. 1,000 oz gold and 7,000 oz silver having been sold by the refinery to date; gold and silver sales during the period to end May 2017 realised at prices ranging from US$1275-1225/oz and US$18.2-16.2/oz respectively. Construction of the second stage of the tailings dam commencing shortly and supported by implementation of a night shift to increase production from the open pit to 20,000m3 (ore and waste) per week. Operational ramp-up largely complete as at end May 2017.Dr. Kerim Sener, Managing Director, commented: \"We are very pleased to provide this interim report on the solid progress of operational ramp-up at the Kiziltepe Mine. While being acutely cognisant of the risks associated with the commencement of operations, we have been very encouraged by the reports of the team on site. Whilst this has been a relatively smooth transition in to production for the Joint Venture, our team has continued to identify a number of areas in which we could introduce operational enhancements to increase productiv...