Business
First Gold Production
First Gold Production.
About this update from Ariana Resources Plc
[{"type":"text","content":"\n \n\n\n\n29 June 2009\nAIM / PLUS Markets: AAU\n\n KIZILTEPE: FIRST GOLD PRODUCTION\n\nAriana Resources plc (\"Ariana\" or \"the Company\"), the gold\nexploration and development company focused on Turkey, is pleased to\nannounce its first gold production from the Sindirgi Gold Project.\nThis follows the conclusion of trial mining at the Arzu South vein at\nthe Kiziltepe deposit by Ariana's subsidiary, Galata Madencilik San.\nve Tic. Ltd. (\"Galata\") and the processing of its ore at the Gümüsköy\nplant by Eti Gümüs A.S. (\"Eti\").\n\nDr. Kerim Sener, Managing Director, commented:\n\n\"Trial processing of ore from Kiziltepe has resulted in the\nproduction of the first 387 oz of gold from the Kiziltepe deposit.\nThis is a solid result from the initial trial mine at Kiziltepe, and\ndiscussions regarding an extension to this trial for the processing\nof a further batch of ore are underway. It is currently the\nintention of the companies to develop their partnership with the\nintention of advancing both the Sindirgi and Tavsan projects.\n\n\"Ariana is currently considering the sale of investment ingots from\nits first gold production from Kiziltepe, following further refining\nand minting at the Istanbul Gold Refinery. Such ingots will be sold\nat a modest premium to the gold price on a 'first-come-first-served'\nbasis. I have personally placed a provisional order for 1kg of this\nfirst gold production, as I believe this represents such a\nsignificant and memorable step forward for the Company.\"\n\nTrial Processing\n\nTrial processing of 5,177 tonnes of dry ore from the Kiziltepe\ndeposit was finalised during last week at the Gümüsköy processing\nplant owned by Eti in Kütahya Province, Western Turkey.\n\nAccording to preliminary data provided by Eti, 253.16kg of dry anode\nmud was recovered from the electrolytic processing circuit (Figure\n1). The gold content of the mud was measured at 4.75%, giving a\ntotal gold content of 12.025 kg (387 oz). Refining of the anode mud\nfor conversion to 99.9% pure gold is currently underway at the Eti\nlaboratory and division of the proceeds is expected to occur during a\nmeeting between Galata and Eti scheduled for the 10th July. Please\nsee the news release dated 5th March 2009 for details of the trial\nprocessing arrangement with Eti.\n\nWhile the recovered grade was lower than expected, Gal...