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Red Rabbit Drilling Results: Kiziltepe
Red Rabbit Drilling Results: Kiziltepe.
About this update from Ariana Resources Plc
[{"type":"text","content":"\n \n\n\n\n\n2 August 2010\nAIM / PLUS Markets: AAU\n\n RED RABBIT DRILLING RESULTS: KIZILTEPE\n\nAriana Resources plc (\"Ariana\" or \"the Company\"), the gold exploration and\ndevelopment company focused on Turkey, is pleased to announce the results from\nthe twenty-six most recent Reverse Circulation (RC) drill holes completed on the\nBanu and Derya veins at the Kiziltepe gold deposit.  The results are to be\nintegrated within our new mineral resource estimate, which is currently being\nprepared as part of our feasibility study on Kiziltepe.\n\nHighlights\n\n * Gold-equivalent intersections of 12.28 g/t over 2m, 4.59 g/t over 14m and\n 3.31 g/t over 11m.\n\n\n * Peak gold-equivalent grade of 23.12 g/t over 1m.\n\n\n * Significant mineralisation intersected on all holes drilled.\n\n\n * Exploratory drilling in area under cover between Arzu South and Derya\n intersects buried vein system.\n\n\n\nDr. Kerim Sener, Managing Director, commented:\n\n\"These results underpin the integrity of the resource at the Kiziltepe deposit.\n Apart from intersecting mineralised quartz vein in every hole - a flawless\n'hit-rate' - the gold and silver grades encountered are robust and demonstrate\neconomic potential.  It is also important to note that while many of the holes\nwere drilled to increase drill-data density, several purely exploratory holes\ndrilled on Derya also yielded significant mineralised and wide true-width\nintercepts.\"\n\n\"This is especially important given these holes were collared in an area of\nlittle or no vein outcrop and were drilled on geophysical targets.  Based on\nthese results, we are now confident that a vein system is fully developed\nbetween the Derya and Arzu South veins, which could add another 580m of\nmineralised strike to the deposit.  The improvement of grade in this area\nindicates that there is now scope to increase the size of the resource through\nfurther drilling of these vein extensions.  This discovery represents a very\npositive start to our Joint Venture with Proccea Construction Co. and justifies\nfurther drilling in this area this season.\"\n\nDetails of Programme\n\nA field team from the Company's Turkish operating subsidiary, Galata Madencilik\nSan. ve Tic. Ltd. Sti., supervised the completion of twenty-six RC drill holes\n(114.3 mm diameter) on the Banu a...