Business
Trial Production from Kiziltepe Commences
Trial Production from Kiziltepe Commences.
About this update from Ariana Resources Plc
[{"type":"text","content":"\n \n\n\n\n5 March 2009\nAIM / PLUS Markets: AAU\n\n TRIAL PRODUCTION FROM KIZILTEPE COMMENCES\n\nAriana Resources plc (\"the Company\"), the gold exploration and\ndevelopment company focused on Turkey, is pleased to announce the\ncompletion of an agreement with Eti Gümüs AS. (\"Eti\") to process ore\nfrom the Company's Kiziltepe deposit on a trial basis. Ariana will\nreceive, through its operating subsidiary, Galata Madencilik San. ve\nTic. Ltd. (\"Galata\"), an up-front signing fee from Eti of US$ 10,000\nwhich will be deducted from proceeds once the first 1,000 tonnes of\nore has been processed.\n\nThe initial agreement with Eti entails a large-scale (5,000 tonnes)\nprocess trial of Kiziltepe ore using the Gümüsköy processing plant,\nowned by Eti and located in Kütahya Province in western Turkey.\nAhead of the agreement detailed below, the Company undertook a\nsmaller test-run of some 25 tonnes of ore through this plant, from\nwhich very good recoveries of between 82.3% and 89.7% gold were\nachieved.\n\nDr. Kerim Sener, Managing Director, commented:\n\n\"This event marks the dawn of a new era for Ariana Resources. We\nhave successfully made the transition from explorer to a committed\ndeveloper of gold resources in Turkey. In partnership with Eti\nGümüs, we have now followed through with our resolve to see the\nresource at Kiziltepe mined.\n\n\"This achievement represents the natural evolution of our long-term\nstrategy and takes us one step closer to our aim of becoming a\nsignificant gold producer in Turkey. This success also highlights\nthe determination of our management team to maximise the value of our\nresources, despite the difficult conditions faced by all junior\ncompanies.\n\n\"We are particularly proud of the solidarity and effort our team has\nshown to bring about this achievement. It is through their sense of\npurpose and commitment, and indeed that of our loyal shareholders,\nthat we have achieved this milestone. We thank and congratulate\nthem. We also look forward to working with our partners, Eti Gümüs,\nto make this trial a success, for both companies.\"\n\nDetails of Trial\n\nAriana will be responsible for mining and trucking the ore to the\nGümüsköy plant, 130km to the east of Kiziltepe. All permits and\nrights have been secured for mining operations to commence, and an\ninitial pit-design/mining plan has...