Business
SUCCESSFUL DRILLING RESULTS FOR APLIKI, CYPRUS
SUCCESSFUL DRILLING RESULTS FOR APLIKI, CYPRUS.
About this update from Ariana Resources Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 5741R\n Ariana Resources PLC\n 08 November 2021\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 8 November 2021\n \n \n AIM: AAU\n \n \n SUCCESSFUL DRILLING RESULTS FOR APLIKI, CYPRUS\n \n \n Ariana now owns 50% of Venus Minerals\n \n \n Ariana Resources plc (\"Ariana\" or \"the Company\"), the AIM-listed exploration and development company operating in Europe, is pleased to announce recent Due Diligence drilling results obtained from the Apliki Project (\"Apliki\"). Ariana has completed its earn-in to 50% of Venus Minerals Ltd (\"Venus\"), which is in discussions with leading Cypriot mining company Hellenic Copper Mines for a 50:50 JV agreement for the development of Apliki. Venus is focused on the exploration and development of copper and gold assets in Cyprus. \n \n \n Highlights:\n \n \n · \n Robust copper results confirmed in all Due Diligence drilling undertaken at the Apliki Project. \n \n \n \n \n \n · \n Significant results include: \n \n \n \n \n \n o \n 44.5m @ 0.77% Cu from 51.5m, including 8m @ 1.40% Cu\n \n \n o \n 28.0m @ 0.86% Cu from 16.0m including 6m @ 1.59% Cu\n \n \n \n \n \n · \n Abundant bornite, chalcocite and covellite observed, confirming the ore will be amenable to hydrometallurgical copper recovery.\n \n \n \n \n \n · \n Ariana has completed its earn-in to 50% of Venus Minerals, making Venus 50% UK owned and 50% Cypriot owned (Semarang Enterprises Limited); the UK and Cypriot joint ownership is planned as a long-term strategic partnership.\n \n \n Dr. Kerim Sener, Managing Director, commented:\n \n \n \"These drilling results confirm Venus' expectations of the Apliki Copper Project in Cyprus. The results have yielded several high-grade copper intercepts within an overall envelope comprising mineralisation which appears to be represented by dominantly oxidised material containing secondary sulphides. This bodes well for the proposed hydrometallurgical recovery of copper from the Apliki area utilising the same processing plant which was previously located at the nearby Skouriotissa operation. \n \n \n \"We are excited by the latest developments in Cyprus and the trajectory of Venus towards becoming the only copper producer on the island in the near term. In addition, rec...