Business
Revised JORC Resource at Kiziltepe
Revised JORC Resource at Kiziltepe.
About this update from Ariana Resources Plc
[{"type":"text","content":"\n \n\n\n\n31 July 2008\nAIM / PLUS Markets: AAU\n\n\n JORC RESOURCES INCREASED AT KIZILTEPE\n\nAriana Resources plc (\"Ariana\" or \"the Company\"), the gold\nexploration and development company focused on Turkey, is pleased to\nannounce a further increase to its resource estimate for the\nCompany's Kiziltepe gold prospect, at its flagship Sindirgi Project\nin Balikesir Province, western Turkey. The total resource has\nincreased to approximately 186,000 ounces of gold equivalent.\n\nHighlights\n\n\n * SRK Consulting (UK) Ltd (\"SRK\") estimates a JORC compliant\n mineral resource containing Measured and Indicated Mineral\n Resources of 104,000 oz (Au) and 1,700,000 oz Ag (138,000 oz Au\n equivalent) and an Inferred Mineral Resource of 34,000 oz Au and\n 725,000 oz Ag (48,000 oz Au equivalent)\n\n\n\n * Measured and Indicated Mineral Resources comprise approximately\n 75% of the total metal resource\n\n\n\n * Global resource now 950,000 tonnes at an average gold equivalent\n grade of 6.1 g/t, representing a 40% increase in tonnage over the\n previous resource estimate\n\n\n\n * Additional drilling planned to add further near surface resources\n to the inventory\n\n\nDr. Kerim Sener, Managing Director, commented:\n\n\"This additional resource update for Kiziltepe was prepared during\nand following a visit to site last week by our consultants SRK. The\nestimate is based on all of our drilling up to March 2008 and\nutilises certain findings from the mining options study undertaken by\nWardrop Engineering.\n\n\"The available drilling data for Arzu South has been remodelled to\ndetermine the broader exploration potential of the vein system at\ndepth and to further refine our understanding of the structural\ncontrols on mineralisation. We are particularly encouraged to note\nthat the model generated identifies several steeply plunging shoots\nof higher grade mineralisation which have not been adequately tested\nby drilling.\n\n\"We are now planning for focused exploration over certain areas\nwithin the Kiziltepe prospect in the expectation that our resource\ncan be increased even further. Drilling at Kiziltepe will recommence\nin August using our in-house drilling team on veins that have not\nbeen drill-tested to date. We remain committed to outlining a\ncommercially feasible resource.\"\n\nResource Statement\n\nSRK has completed a 3D...