Business
Q2 2020 PRELIMINARY PRODUCTION RESULTS
Q2 2020 PRELIMINARY PRODUCTION RESULTS.
About this update from Ariana Resources Plc
[{"type":"text","content":"\n \n \n RNS Number : 4504S\n Ariana Resources PLC\n 09 July 2020\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 9 July 2020\n \n \n AIM: AAU\n \n \n \n \n \n Q2 2020 PRELIMINARY PRODUCTION RESULTS\n \n \n \n \n \n Ariana Resources plc (\"Ariana\" or \"the Company\"), the AIM-listed exploration and development company operating in Europe, is pleased to announce its preliminary production results for the quarter ended 30 June 2020 for the Kiziltepe Mine (\"Kiziltepe\" or \"the Project\") in Turkey. Kiziltepe is part of the Red Rabbit Joint Venture (\"JV\") with Proccea Construction Co. and is 50% owned by Ariana through its shareholding in Zenit Madencilik San. ve Tic. A.S. (\"Zenit\").\n \n \n \n \n \n Second Quarter Preliminary Production Results*:\n \n \n \n \n \n · \n Gold production for the quarter was 4,679 ounces (Q1 2020: 5,129 ounces)*, meeting half-year annual guidance.\n \n \n \n \n \n · \n Total ore processed for the quarter was 54,862 tonnes (Q4 2019: 53,840 tonnes) at an average head grade to the plant of 3.02 g/t gold.\n \n \n \n \n \n · \n Quarterly open-pit ore mined was \n 77,179 \n tonnes, at an average mined grade of 2.79 g/t gold, and total material movement for the quarter was 973,603 tonnes.\n \n \n \n \n · \n Average metallurgical recovery of gold for the quarter remains high at 91.8%.\n \n \n \n \n \n * All figures are given gross with respect to the JV.\n \n \n \n \n \n Dr. Kerim Sener, Managing Director, commented:\n \n \n \n \n \n \"The second quarter of 2020 again witnessed better than planned rates of production, despite corresponding with the global onset of COVID-19. Material movements from the pits were maintained at very high rates, while ore production also continued at near record levels. The mill also performed at some of the highest monthly rates ever recorded, reaching an annualised rate of almost 220,000 tonnes per annum which represents an increase of over 45% above the feasibility designed rate.\n \n \n \n \n \n \"Production from our highest-grade pit, Arzu South, is as planned now drawing to a close with production shortly to be focused entirely on the Arzu North and Derya pits. In addition, the mine has continued to maintain a stockpile of well ove...