Business
Licence Portfolio Increase
Licence Portfolio Increase.
About this update from Ariana Resources Plc
[{"type":"text","content":"\n Ariana Resources PLC\n11 October 2006\n\n11 October 2006\n\nAIM: AAU\n\n LICENCE PORTFOLIO SIGNIFICANTLY INCREASED\n\n HIGH PRIORITY TARGETS STAKED\n\n\nAriana Resources plc ('Ariana' or 'the Company'), the gold exploration company\nfocused exclusively on Turkey, announces a significant expansion to its\nexploration portfolio following the completion of a systematic remote-sensing\nprogramme.\n\n\n •45 new licences granted covering 698km2 across western and eastern Turkey\n\n •Numerous high interest potential gold and porphyry copper-gold style\n targets staked\n\n •Exploration portfolio enlarged to 106 licences covering 1,755km2\n\n\nThe Company's generative exploration programme targets the discovery of world\nclass bulk-tonnage high-sulphidation style (gold and copper-gold) and vein\nhosted low-sulphidation style (gold and gold-silver) deposits. At least 120\nfurther targets have been defined from the latest programme which integrated\nsignificant satellite-borne data (ASTER) with data in the Company's proprietary\nin-house GIS platform. Forty five new exploration licences totalling 698km2 have\nbeen secured across the highest priority targets occurring in free ground in\nwestern Turkey (14 licences), central Turkey (14 licences) and eastern Turkey\n(17 licences). Ariana's portfolio has subsequently increased to 106 licences\ncovering 1,755km2.\n\n\nNew targets generated for follow-up exploration include:\n\n\n •4km x 5km anomaly in volcanic rocks in an under-explored region\n\n •6km x 2km anomaly in complex geology similar to that found in Nevada, USA\n\n •2km x 2km anomaly in the centre of a large volcanic complex\n\n •Portions of a 16km long anomaly in volcanic rocks\n\n •2km long anomaly at the contact between volcanic and metamorphosed rocks\n\n\nSteven Poulton, Chief Executive, commented:\n\n'Ariana is making excellent progress towards its strategy of defining a pipeline\nof exciting projects for resource definition in Turkey. This recent programme\nhas secured an additional 45 licences across numerous and potentially\nsignificant large targets.\n\n\n'Meanwhile, we continue to make strong progress at our existing projects. In\nwestern Turkey drilling is underway with two rigs active at the Company's\nSindirgi gold project that hosts over 45km of gold-silver bearing epithermal\nveins and exploration is...