Business
Kinik Drilling Underway
Kinik Drilling Underway.
About this update from Ariana Resources Plc
[{"type":"text","content":"\n Ariana Resources PLC\n16 January 2007\n\n\n16 January 2007\nAIM: AAU\n\n DRILLING UNDERWAY AT THE KINIK GOLD PROSPECT\n\n\nAriana Resources plc ('Ariana' or 'the Company'), the gold exploration company\nfocused on Turkey, announces the commencement of a diamond-drilling programme at\nthe Company's 100% owned Kinik gold prospect in Balikesir Province, western\nTurkey.\n\n\n • Drilling will test a 750m long gold in soil anomaly\n • Drill rig mobilised and eleven diamond core drill holes planned\n • Previous gold grades up to 10.4 g/t Au from channel sampling\n • Prospect discovered by Ariana's remote sensing programme\n\n\nThe Kinik prospect is located in the Ivrindi gold project, which covers an area\nof 90km(2) in Balikesir province, western Turkey, and lies 70km to the northwest\nof the Company's Sindirgi Project. The prospect was identified by the Company's\nremote sensing programme. A 48m long reconnaissance channel sample along a\nroad-cut within the prospect area determined the potential for significant gold\ngrades, with high grade zones of 3.2 g/t over 10m, 3.1 g/t over 5m and 1.4 g/t\nover 13m (using a 0.5 g/t Au cut-off) with a peak grade of 10.4 g/t Au.\nSubsequent rock-chip sampling undertaken by the Company at two separate\nlocations 250m and 900m east and northeast, respectively, of this channel\nreturned grades above 1 g/t Au. A follow up systematic surface soil sampling\nprogramme was completed in late 2005. This work identified an extensive (750m by\n50m) gold in soil geochemical anomaly (above 50ppb Au) along the faulted contact\nof altered andesitic volcanic rocks and limestone units.\n\n\nAn initial eleven diamond core holes are planned in the current drilling\nprogramme, to depths of up to 100m, to test the continuity of gold\nmineralisation beneath the soil anomaly. If the results are positive, they will\nbe used to guide a follow up drilling programme for resource estimation.\n\n\nSteven Poulton, Chief Executive, commented:\n\n'We are focused on rapidly drill testing our exploration discoveries. The\nresults from the Kinik prospect indicate the presence of a potentially\nsignificant gold mineralised system at depth which our drilling programme is\ndesigned to test. Definition of Kinik and other prospects demonstrates the\nsuccess and value of the Company's remote sensing strategy. We will drill t...