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Ariana Resources plc : Kiziltepe West Discoveries
Ariana Resources plc : Kiziltepe West Discoveries.
About this update from Ariana Resources Plc
[{"type":"text","content":"\n Ariana Resources plc : Kiziltepe West Discoveries17 May 2017AIM: AAUKIZILTEPE WEST DISCOVERIESAriana Resources plc (\"Ariana\" or \"the Company\"), the exploration and development company operating in Turkey, is pleased to announce the results of recent exploration at Kiziltepe West. Kiziltepe West is located within 4km by asphalt road from the Kiziltepe Mine (\"Kiziltepe\" or \"the Project\"), which has been in production since March 2017. Kiziltepe is part of the Red Rabbit Joint Venture with Proccea Construction Co. and is 50% owned by Ariana.Highlights:New portable X-Ray Fluorescence (\"pXRF\") data reinforces the potential for near surface mineralisation across Kiziltepe West. Ipek Vein mapped following pXRF sampling, with a re-evaluation of historic exploration drilling and rock-chip sampling determining down-dip potential. Rock-chip sampling from Ipek yielded 2.36g/t Au + 27.2g/t Ag, 1.94g/t Au + 13.3g/t Ag and 1.07g/t Au + 20.6g/t Ag. Potential exists for a low-grade and high-tonnage style of stockwork mineralisation in alteration zones between the Ceylan and Derya veins and trending towards Ipek.Dr. Kerim Sener, Managing Director, commented: \"These results confirm our understanding that the Kiziltepe vein system extends across a further 4km from the areas currently being developed as part of the Kiziltepe mine operations. The Company recently announced a revision of its mineral resource estimate for Kiziltepe which encompassed all veins drill tested to date and established an additional and immediate JORC Exploration Target. There are clearly opportunities for the discovery of additional resources beyond the veins previously drill tested and further work by the Joint Venture will be required in these areas. In summary, the recent work at Kiziltepe West further reinforces the long-term potential of the Red Rabbit JV area. The Company recognises that additional exploration of the JV area will likely further increase the resource-base and guide our future mine planning strategy.\"Details of ProgrammeThe Ariana exploration team recently initiated a portable X-Ray Fluorescence (\"pXRF\") soil sampling program covering the western-most limits of the Kiziltepe Mine area. The programme was designed to increase data resolution within anomalous zones initially identified du...