Business
Licence Acquisitions and Transfers Update
Licence Acquisitions and Transfers Update.
About this update from Ariana Resources Plc
[{"type":"text","content":"\n \n\n\n\n19 August 2008\nAIM / PLUS Markets: AAU\n\n LICENCE ACQUISTIONS AND TRANSFERS UPDATE\n\nAriana Resources plc (\"Ariana\" or \"the Company\"), the gold\nexploration and development company focused on Turkey, announces that\nit has acquired new exploration ground in the vicinity of its main\nprojects and that licence transfers are complete on six core licences\nfor the Tavsan project.\n\nHighlights:\n\n- Nine new licences acquired in western Turkey\n\n- Six licences transferred for the Tavsan project\n\n- Total ground-holding at approximately 1050 km2, excluding JV\nlicences in eastern Turkey\n\nDr. Kerim Sener, Managing Director, commented:\n\n\"The acquisition of new ground helps us to build our exploration\nportfolio within the WAVE project area, in which we are expecting to\ndelineate a resource of 1 million ounces of gold in the coming\nyears. The completion of the first phase of licence transfers for\nthe Tavsan project allows the Company to begin formal work on the\nproject, with the aim of demonstrating its evident resource\npotential.\n\n\"Following our recent dealings on the Tavsan project, our licence\nportfolio in western Turkey is now even more focused on the WAVE\nproject area, which enables an ease of logistics and better use of\nour human and financial resources. The Company holds some of the\nbest exploration properties in western Turkey and we look forward to\ndeveloping our licence portfolio and target stream yet further.\"\n\nNew acquisitions\n\nNine new exploration licences have been acquired in western Turkey in\nregions surrounding our main project development areas. These\nlicences build on the strategic ground holdings around our principal\nprojects and offer the opportunity to define new exploration targets\nfor drill-testing.\n\nTavsan transfers\n\nFive operating and one exploration licence within the package of ten\nlicences purchased from Odyssey Resources have been transferred to\nGalata Madencilik San. ve Tic. Ltd., Ariana's local subsidiary. The\nlicences transferred include several priority licences, which contain\nthe existing 43-101 resource established by Odyssey Resources. The\nremaining four licences are pending transfer.\n\nContacts:\n\n\nAriana Resources plc Tel: 020 7407 3616\nMichael Spriggs, Chairman\nKerim Sener, Managing Director\n\nBeaumont Cornish Limited Tel: 020 7628 3396...