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Arzu Central Exploration Target - Red Rabbit Go...
Arzu Central Exploration Target - Red Rabbit Go....
About this update from Ariana Resources Plc
[{"type":"text","content":"\n Arzu Central Exploration Target - Red Rabbit Gold Project 29 May 2013AIM: AAUARZU CENTRAL EXPLORATION TARGET: RED RABBIT GOLD PROJECTAriana Resources plc (\"Ariana\" or \"the Company\"), is pleased to announce the publication of an Exploration Target* at Arzu Central within the Kiziltepe Sector of its Red Rabbit Gold Project (\"Red Rabbit\") in Western Turkey. Red Rabbit has a current total JORC Resource of 448,000 ounces of gold equivalent. Highlights: Exploration Target* of up to 92,000 oz Au and 1,100,000 oz Ag established at Arzu Central, indicating future potential to add to the resource base which could further increase the current mine life of 8 years and enhance mine economics at Kiziltepe. Drilling programme proposed to systematically test this area and to determine its potential to yield a resource capable of being mined by underground methods. Potential for further resource ounces to be delineated down-dip of known high-grade shoots. Exploration drilling plan to be executed during Kiziltepe mine construction in 2014. Dr. Kerim Sener, Managing Director, commented:\"Expanding the resource base at Red Rabbit is an important objective for the Company, and the definition of an Exploration Target of up to 92,000 oz Au and 1,100,000 oz Ag at Kiziltepe is an important step forward. The Exploration Target at Arzu Central will focus future mine-scale exploration on the delivery of additional resources mineable by underground methods. This is in addition to the open-pittable reserves already defined at Kiziltepe and would result in the expansion of mine life beyond eight years. \"We are confident that a mineralised system is developed at Arzu Central based on a variety of geoscientific evidence. Two drill holes completed last year demonstrated unequivocally that the Arzu Central vein system continues under cover beyond the planned pit limit at Arzu North and that there is a substantial improvement of grade in this direction. These two holes intercepted mineralisation 50m further along strike than any previous drilling in this area and must be followed-up with further drill testing. \"Drilling in 2012 also intercepted bonanza grades in an extension to the Derya vein beneath cover and this will also be a priority for further drilling. &nb...