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PROPOSED ACQUISITION OF NEW EXPLORATION PROPERTIES
PROPOSED ACQUISITION OF NEW EXPLORATION PROPERTIES.
About this update from Ariana Resources Plc
[{"type":"text","content":"\n \n\n\n\n\n16 March 2011\nAIM / PLUS Markets: AAU\n\n\n PROPOSED ACQUISITION OF NEW EXPLORATION PROPERTIES\n\nAriana Resources plc (\"Ariana\" or \"the Company\"), the gold exploration and\ndevelopment company focused on Turkey, is pleased to announce that it has signed\na Heads of Agreement (\"HoA\") for the acquisition of four key exploration\nproperties in western Turkey, from AIM-listed Turkish explorer, KEFI Minerals\nplc (\"KEFI\").\n\nHighlights:\n\n * Acquisition of four exploration properties including the Kizilcukur\n and Muratdag projects (as described here).\n * Properties show potential to add to the Company's resource inventory\n within western Turkey.\n * Properties provide an opportunity for Ariana to create synergies\n with its Red Rabbit Gold Project ahead of scheduled production in\n 2012.\n * 2km of mineralised quartz veins containing high-grade gold and\n silver delineated on Kizilcukur project.\n * Gold and silver soil geochemical anomaly identified on the Muratdag\n project, which has not previously been drill tested.\n\n\nDr. Kerim Sener, Managing Director, commented:\n\n\"This proposed acquisition is an important step for Ariana, and one which will\nconsolidate our position and exploration footprint in western Turkey, focusing\nprimarily on the highly prospective Red Rabbit Gold Project and the surrounding\narea.\n\n\"The acquisition of the Kizilcukur property is a strategically significant move,\nas it will provide Ariana and its Red Rabbit Joint Venture with access to the\nentire gold mineralised trend within the Sindirgi Gold Corridor.  Surface\nsampling results including 152g/t gold and 1,320g/t silver and several high-\ngrade drill intercepts underpin the prospectivity of the property.  We are\nexpecting that, with further exploration at Kizilcukur, we will be able to\ndefine a mineral resource to integrate into our Red Rabbit project development.\n Our target resource base for this Red Rabbit region is 1 million oz Au\nequivalent and we are putting all the building blocks in place to achieve this\nin the medium term.\"\n\nHeads of Agreement\n\nDetails of the Heads of Agreement, which are subject to due diligence\n(particularly with respect to the licences) and the completion of a definitive\nagreement, are as follows:\n\n * A nominal cash payment by Ariana to KEFI's Turkish subs...