Business
Goveli Update
Goveli Update.
About this update from Ariana Resources Plc
[{"type":"text","content":"\n Ariana Resources PLC\n11 December 2006\n\n\n\n\n11 December 2006\nAIM: AAU\n\n EXPLORATION UPDATE ON THE GOVELI GOLD PROJECT\n\nAriana Resources plc ('Ariana' or 'the Company'), the gold exploration company\nfocused exclusively on Turkey, provides an update on exploration at its Goveli\ngold project in western Turkey.\n\n •Gold mineralised zone measures at least 5km long and 0.5km wide\n •Grades of up to 4.16 g/t Au and 1.72% Nickel from composite rock-chip\n sampling\n •Follow up exploration underway to define drill targets\n\nGeological mapping and a programme of systematic rock-chip sampling have defined\na zone of pervasive gold mineralisation and hydrothermal alteration measuring at\nleast 5km long and up to 0.5km wide along the discontinuous northeast striking\nthrusted contact between Cretaceous age marble and ophiolitic units with\nPrecambrian age basement schists and gneiss. A total of 586 samples have been\ncollected from a combination of 50m by 50m and 25m by 25m spaced composite rock\nchip grids, with a peak gold grade of 4.16 g/t. Sixteen samples graded above\n0.5% Ni with peak grades of 1.72% Ni and 0.15% Co collected proximal to altered\nophiolite.\n\nA programme of reconnaissance rock-saw channel sampling has also been completed\nalong road cuts within an area showing strong alteration. A total of 141 samples\nwere collected and the results confirm the broad distribution of anomalous grade\ngold mineralisation at surface, including 0.49 g/t Au over 23m and 0.34 g/t Au\nover 22m.\n\nKerim Sener, Exploration Director, commented:\n'Our systematic exploration of the Goveli project has defined a significant zone\nof gold mineralisation measuring 5km long and up to 0.5km wide in places. Field\nobservations indicate that the mineralisation is associated with a complex array\nof faults and fracturing. Structural mapping, geophysics and a programme of\ntrenching are planned to define possible high-grade feeder zones that would be a\ntarget for a future drilling programme in 2007. '\n\nAbout the Goveli project\nThe Goveli gold project comprises three exploration licences totalling 44.5km2\nin the Manisa Province of western Turkey, 125km northeast of the coastal city of\nIzmir and 60km southeast of Ariana's Sindirgi gold project. The central licence\nwas acquired through competitive auction and two contiguous licen...