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New Gold Targets at Karakavak Prospect of Near-...
New Gold Targets at Karakavak Prospect of Near-....
About this update from Ariana Resources Plc
[{"type":"text","content":"\n New Gold Targets at Karakavak Prospect of Near-term Production Red Rabbit Gold Project in Turkey5 June 2015AIM: AAUNEW GOLD TARGETS AT KARAKAVAKAriana Resources plc (\"Ariana\" or \"the Company\"), the Anglo-Turkish gold exploration and development company focused on Turkey, is pleased to announce highly encouraging results from a soil geochemical programme conducted on the Karakavak prospect at the Kiziltepe Sector of its advanced near-term production Red Rabbit Gold Project in western Turkey (\"Red Rabbit\") where fully-financed mine construction will commence shortly. Highlights:Five new discoveries included among 12 geochemically anomalous zones for gold (>20ppb Au) encountered across the prospect area, doubling the number of drill targets.Several zones are extensive and coherent along strike and are broadly coincident with anomalous silver in soil results (>150ppb Ag); field follow-up has confirmed the existence of previously unmapped veins. Existing high-grade rock-chip results from some target areas include: 20.80g/t Au and 33.50g/t Ag, 8.89g/t Au, 3.99g/t Au and 2.60g/t Ag, and 3.54g/t Au and 9.88g/t Ag.Expanded soil X-ray Fluorescence (\"XRF\") grid identifies new corridor of potential mineralisation 2km long, extending westwards from historical gold drill intercepts.Results underpin the broader resource potential of the wider Red Rabbit Gold Project, which has a current global JORC resource of 475,000 oz of gold equivalent.Dr. Kerim Sener, Managing Director, commented:\"Following successful geochemical work undertaken in 2014, we expanded our soil geochemical programme to identify new target areas across the Karakavak prospect. We have now more than doubled the number of drill targets and identified multiple new veins, which bodes well for future exploration of the Kiziltepe Sector.\"With 12 targets identified in this one prospect area, five of them being entirely new, we look forward to initiating a drilling programme once the Kiziltepe Mine at Red Rabbit enters construction. Based on the data collected and interpreted so far, we fully expect additional resources to be defined within a short trucking distance to the planned processing plant. This has the potential to enhance the life of mine and indeed economics of our flagship gold project.\"Our exploration over the past 18 mont...