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Initial JORC Resource at Tavsan
Initial JORC Resource at Tavsan.
About this update from Ariana Resources Plc
[{"type":"text","content":"\n \n\n\n\n1 October 2008\nAIM / PLUS Markets: AAU\n\n INITIAL JORC RESOURCE AT TAVSAN\n\nAriana Resources plc (\"Ariana\" or \"the Company\"), the gold\nexploration and development company focused on Turkey, is pleased to\nannounce its initial JORC resource estimate on the Company's Tavsan\ngold prospect in Kütahya Province, western Turkey. The total\nresource is now approximately 215,000 ounces of gold equivalent.\nThere is potential to expand the resource significantly and\nadditional drilling is scheduled.\n\nHighlights\n\n\n * SRK Consulting (UK) Ltd (\"SRK\") estimates a JORC compliant\n Indicated Mineral Resource of 87,000 oz gold and an Inferred\n Mineral Resource of 117,000 oz gold\n\n\n\n * Global resource is 4,900,000 tonnes at an average gold equivalent\n grade of 1.36 g/t: resource expected to be economically viable\n\n\n\n * Additional drilling planned to add further resources to the\n inventory\n\n\n\n * Preparations underway for a scoping study on a 30,000 ounce p.a.\n heap-leach operation\n\n\nDr. Kerim Sener, Managing Director, commented:\n\n\"This initial JORC resource for the Tavsan prospect is very\nencouraging and demonstrates the potential of this project to grow\nfurther. This resource statement, coupled with the good metallurgy,\nconfirms our expectation that Tavsan can be developed as a 1,000,000\ntonne per annum heap-leach operation in the medium term.\n\n\"We are now planning a programme of drilling to further expand the\nresource. There are large parts of the prospect that remain\nun-drilled, yet there is clear potential for further resource\nupside. We are committed to defining a commercially viable resource\nat this location.\"\n\nResource Statement\n\nSRK has completed a 3D geological model and mineral resource estimate\nin compliance with the JORC code for the Main, Sivri and Satellite\nzones of gold-bearing jasperoid at the Tavsan prospect. This\nresource model has been developed from the original 43-101 compliant\nresource of approximately 140,000 oz Au equivalent. The new JORC\nresource reported on here is considered by SRK to be potentially\neconomically mineable.\n\nClassification of the resource model is based on geological and grade\ncontinuity, drill-hole spacing, in addition to the distance of\nsamples to blocks during interpolation. The majority of the current\nresource is located withi...