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Maiden JORC Resource at Salinbas and Ardala, No...
Maiden JORC Resource at Salinbas and Ardala, No....
About this update from Ariana Resources Plc
[{"type":"text","content":"\n Maiden JORC Resource at Salinbas and Ardala, North-East Turkey10 April 2013AIM: AAUMAIDEN JORC RESOURCE AT SALINBAS & ARDALA, NORTH-EAST TURKEYAriana Resources plc (\"Ariana\" or \"the Company\"), the gold exploration and development company focused on Turkey, is pleased to announce the completion of an independent JORC compliant* mineral resource estimate for its Salinbas and Ardala properties (\"Salinbas/Ardala\" or \"the Project\"), which is contained within a Joint Venture with Eldorado Gold Corporation (\"Eldorado\") in Artvin Province of north-eastern Turkey. The resource estimate stated in this announcement is reported gross with respect to the Joint Venture. Ariana holds 49% of the Joint Venture, such that 49% of the resource is net attributable to Ariana. Highlights: 180,000 oz Au plus 820,000 oz Ag Indicated resources identified at Salinbas and 590,000 oz Au plus 3.3 Moz Ag Inferred resources. Additional 323,000 ounces Inferred resource identified at Ardala, based on historic data, including additional Cu and Mo. Potential in the Salinbas and Ardala area to define 1Moz gross (approx. 500,000oz net attributable to Ariana) of gold, though considerable additional drilling will be required to confirm this potential. Following completion of this initial resource estimate, Ariana to transfer management control of the Joint Venture to Eldorado, enabling Ariana to concentrate its attention on bringing its Red Rabbit Gold project in western Turkey in to production, targeted for 2014. Dr. Kerim Sener, Managing Director, commented:\"This maiden resource is an important step forward in our understanding of the Salinbas-Ardala system. Although we are still in the early stages and much exploration work remains to be done, we are now talking about the potential for the area to host a deposit that is in the one million ounce range and perhaps beyond. It is apparent that the Salinbas gold-silver prospect is related to the Ardala copper-gold-molybdenum porphyry discovered previously, and represents part of a broader mineralised trend that runs NE-SW over several kilometres. \"As a consequence of our recent exploration programme at Ardala and Salinbas and the positive outlook on the prospectivity of this region, Ariana has granted Eldorado the right to adopt man...