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KARAKAVAK DRILLING RESULTS
KARAKAVAK DRILLING RESULTS.
About this update from Ariana Resources Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 0751J\n Ariana Resources PLC\n 19 August 2021\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 19 August 2021\n \n \n AIM: AAU\n \n \n KARAKAVAK DRILLING RESULTS\n \n \n Ariana Resources plc (\"Ariana\" or \"the Company\"), the AIM-listed exploration and development company operating in Europe, is pleased to announce recent drilling results obtained from the Karakavak area (\"the Project\") of the Kiziltepe Sector. Karakavak is part of the Zenit Madencilik San. ve Tic. A.S. (\"Zenit\") Joint Venture (\"JV\") with Proccea Construction Co. and Ozaltin Holding A.S. and is 23.5% owned by Ariana.\n \n \n Highlights:\n \n \n · \n Drilling results from the Karakavak vein include:\n \n \n \n \n \n o \n 3.0m @ 2.40g/t Au + 1.7g/t Ag (incl. 1.0m @ 4.98g/t Au + 2.0g/t Ag)\n \n \n \n \n \n o \n 4.6m @ 1.36g/t Au + 2.2g/t Ag (incl. 0.7m @ 3.65g/t Au + 4.0g/t Ag)\n \n \n \n \n \n o \n 5.1m @ 1.10g/t Au + 1.4g/t Ag (incl. 1.1m @ 2.27g/t Au + 2.0g/t Ag)\n \n \n \n \n \n · \n Resource estimation and the definition of a JORC Exploration Target is now underway.\n \n \n Dr. Kerim Sener, Managing Director, commented:\n \n \n \"The Karakavak vein system occurs over a total area of 3.8km2, comprising 3,735m of outcropping veins with only 14% of the veins having been drill tested so far. These results build on the initial drilling programme announced in 2017 and have confirmed the expected geometry of the main vein. Unlike the very steeply dipping veins at Kiziltepe, the veins at Karakavak appear to be moderately dipping to the south. This geometry is more favourable for the development of potential open-pits, especially given the general southward slope of the topography in this area. A resource estimate will be completed on the basis of the limited area drill tested to date, in addition to defining a JORC Exploration Target for certain prospective vein extensions. This work will help guide further resource definition work across this important satellite prospect area.\"\n \n \n The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the European Union (...