Business
TAVSAN MINE UPDATE
TAVSAN MINE UPDATE.
About this update from Ariana Resources Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 3897H\n Ariana Resources PLC\n 06 April 2022\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 6 April 2022\n \n \n AIM: AAU\n \n \n TAVSAN MINE UPDATE\n \n \n Ariana Resources plc (\"Ariana\" or the \"Company\"), an AIM-listed mineral exploration and development company with gold mining interests in Europe, is pleased to announce an update to the mine development programme underway at Tavsan. The project is operated by Zenit Madencilik San. ve Tic. A.S. (\"Zenit\") in partnership with Proccea Construction Co. and Ozaltin Holding A.S. and is 23.5% owned by Ariana.\n \n \n Highlights:\n \n \n · \n Tavsan gold and silver mine targeting production of up to 30,000oz of gold per annum over eight years. \n \n \n \n \n \n · \n Over 3,900m of resource drilling completed at Tavsan between December 2021 and March 2022.\n \n \n \n \n \n · \n Land acquisition and access process has been completed; forestry permits applications remain in process with the Government.\n \n \n \n \n \n · \n Discussions regarding debt financing of the required construction capital are continuing between Zenit and potential lenders.\n \n \n \n \n \n · \n Ariana will be conducting a new mapping and exploration programme across Tavsan in the next few months, aiming to identify new zones of mineralisation.\n \n \n \n \n \n Dr. Kerim Sener, Managing Director, commented:\n \n \n \"The Tavsan mine development programme is advancing at pace, and activities across the project are ramping up significantly as the project is progressed towards construction. \n \n \n \"The latest Tavsan drilling programme experienced some delays due to exceptionally bad weather conditions and the decision to increase the scope of the programme as it proceeded. As a result, Zenit has now completed almost double the drilling metres that had been planned previously and successfully brought the programme to a close. We are now awaiting the receipt of assays from this 100-hole programme, following which a revised Resource and Reserve Estimate will be published as part of the Feasibility Study. All geotechnical drilling required for the finalisation of the study has been completed, which is being revised with improved and updated operating and capital cost estimates.\n \n \n \"Essential freehold ...