Business
Q3 2020 PRELIMINARY PRODUCTION RESULTS
Q3 2020 PRELIMINARY PRODUCTION RESULTS.
About this update from Ariana Resources Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 6924B\n Ariana Resources PLC\n 12 October 2020\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 12 October 2020\n \n \n AIM: AAU\n \n \n \n \n \n Q3 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 September 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 Third Quarter Preliminary Production Results*:\n \n \n \n \n \n · \n Gold production for the quarter was 5,125 ounces (Q2 2020: 4,679 ounces)*, enabling annual guidance of 18,000 ounces to be maintained into Q4 2020.\n \n \n \n \n \n · \n Total ore processed for the quarter was 57,302 tonnes (Q2 2020: 54,862 tonnes) at an average head grade to the plant of 2.63 g/t gold.\n \n \n \n \n \n · \n Quarterly open-pit ore mined was \n 86,960 \n tonnes, at an average mined grade of 2.21 g/t gold, and total material movement for the quarter was 1,190,710 tonnes.\n \n \n \n \n · \n Average metallurgical recovery of gold for the quarter remains high at 94.2%.\n \n \n \n \n \n · \n Planning underway regarding a proposed mill expansion to provide for an increase in throughput to 400,000 to 500,000 tonnes per annum.\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 \"As with the previous quarter, the Kiziltepe operation has continued to perform flawlessly under the somewhat sub-optimal conditions imposed by the COVID-19 pandemic. Material movements remain very high, while process plant throughput remains well above average, setting yet another record for the operation; the mill reached an annualised throughput rate of almost 230,000 tonnes per annum which represents an increase of over 53% above the feasibility designed rate.\n \n \n \n \n \n \"Production from our highest-grade pit, Arzu South, ca...