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Ariana Resources plc : SIGNIFICANT RESOURCE DEV...
Ariana Resources plc : SIGNIFICANT RESOURCE DEV....
About this update from Ariana Resources Plc
[{"type":"text","content":"\n Ariana Resources plc : SIGNIFICANT RESOURCE DEVELOPMENT UPSIDE AT TAVSAN22 February 2017AIM: AAUSIGNIFICANT RESOURCE DEVELOPMENT UPSIDE AT TAVSANAriana Resources plc (\"Ariana\" or \"the Company\"), the exploration and development company operating in Turkey, is pleased to announce the completion of resource-focused target generation for the Tavsan Project* (\"Tavsan\" or \"the Project\"). Tavsan is part of the Red Rabbit Joint Venture with Proccea Construction Co. and is 50% owned by Ariana.Highlights:Sixteen target areas identify the potential for significant resource growth at the Tavsan Project. Important drill intercepts warranting follow-up include 11m @ 5.11 g/t Au + 6.83g/t Ag, 6m @ 3.37g/t Au + 3.67g/t Ag and 9m @ 1.30g/t Au + 4.32g/t Ag within c.20m from surface. Several mineralised zones identified in trenching require follow-up, including 170m @ 1.04g/t Au + 4.1g/t Ag, 140m @ 1.11g/t Au + 5.2g/t Ag and 60m @ 1.30g/t Au + 4.34g/t Ag. Trial mining at the site has produced a stockpile of c.28,000 tonnes to date at an average grade of 1.41 g/t gold. Company planning to conduct a high-resolution portable X-ray Fluorescent (pXRF) soil sampling programme to refine target areas ahead of future resource drilling.Dr. Kerim Sener, Managing Director, commented: \"The Tavsan Project comprises significant scope for further resource growth and the development of an extremely attractive low-cost and high-margin mining opportunity. Based on the existing scoping study, the project has already demonstrated considerable potential, though further resource upside could enhance this substantially. Our management resource target at Tavsan is 300,000 oz gold of which at least 200,000 oz gold is targeted to be accessible via open pit mining methods. This would result in an increase in potential mine life by a further c.3 years to a total life of c.7 years, producing at a rate of approximately 30,000 oz gold per annum.At this stage we envisage Tavsan as a semi-autonomous satellite operation to the Kiziltepe Mine within the context of the broader Red Rabbit Joint Venture with Proccea Construction Co. Tavsan would share much of the management and operational infrastructure as Kiziltepe yet be developed as a heap-leach operation with possibly only the carbon elution and regeneratio...