Business
Kiziltepe Drilling and Business Update
Kiziltepe Drilling and Business Update.
About this update from Ariana Resources Plc
[{"type":"text","content":"\n \n\n\n\n\n14 January 2008\nAIM / PLUS Markets: AAU\n\n KIZILTEPE DRILLING AND BUSINESS UPDATE\n\nAriana Resources plc (\"Ariana\" or \"the Company\"), the gold\nexploration company focused on Turkey, is pleased to announce that\nthe new drilling programme at Kiziltepe on the Arzu South and North\nveins has commenced and is expected to be concluded by March 2008.\n\nHighlights\n\n\n * New drilling programme underway at Kiziltepe\n\n\n\n * Diamond drill-rig ordered; in-house drilling team to be\n established\n\n\n\n * Opportunity search and new exploration underway\n\n\n\nDrilling Programme\n\nA 2,500m diamond drilling programme has commenced on schedule at the\nKiziltepe prospect. This additional programme is part of the\nresource definition work, which began in September 2007, and follows\non from our successful RC-drilling programme at Kiziltepe late last\nyear. The aim of this programme is to provide greater confidence in\nthe mineral resource estimate to 50m vertical depth, as this portion\nof the resource is most likely accessible by open-pit.\n\nA summary of the main drilling intersections reported previously for\nthe Arzu South Vein at the Kiziltepe prospect are listed in the\nappendix below.\n\nOther Activities\n\nAriana's operating subsidiary, Galata Madencilik San. ve Tic. Ltd.,\nhas recently concluded an agreement to purchase a diamond drilling\nrig for delivery to Turkey in May 2008. In conjunction with this,\nthe Company is in the process of establishing its own drilling and\ngeological evaluation team. The in-house drilling team will allow\nthe Company to drill at any time of the year and will provide\nincreased flexibility to test new targets on Ariana's own projects or\nthose of potential joint venture partners. The drilling rig will\nprovide pay-back within one year, based on our planned drilling for\n2008.\n\nFollowing a complete desk-review of exploration opportunities in\nTurkey, a new exploration programme is to commence in the Spring to\nfurther develop the pipeline of drill-ready exploration\nopportunities. The new drill-rig will be utilised to systematically\ntest the existing prospects and any new drill targets that are\nidentified and secured following the desk-review.\n\nDr. Kerim Sener, Managing Director, commented:\n\n\"Results from previously reported drill intersections, such as 8.9m\nat 10.7 g/t...