Business
YEAR-END UPDATE ON ASGARD INVESTMENTS
YEAR-END UPDATE ON ASGARD INVESTMENTS.
About this update from Ariana Resources Plc
[{"type":"text","content":"\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 21 December 2022\n \n \n AIM: AAU\n \n \n \n YEAR-END UPDATE ON ASGARD INVESTMENTS\n \n \n \n Ariana Resources plc (\"Ariana\" or \"the Company\"), the AIM-listed mineral exploration and development company with gold mining interests in Europe, is pleased to provide an update on the 100% owned Asgard Metals Fund (\"Asgard\") and its associated investments. \n \n \n \n Highlights:\n \n \n \n ·\n \n Panther Metals Limited (3.2% held):\n \n Definition of a major laterite nickel resource at the Coglia Project of 70.6Mt at 0.7% nickel and 460ppm cobalt (JORC Inferred) near Laverton, Western Australia, in proximity to the Glencore-owned Murrin-Murrin nickel operation (announced on 27 June 2022). \n \n \n o \n Potential to increase resource substantially at Coglia, with a further 34 to 62Mt located within a JORC Exploration Target.\n \n \n o \n Exploration of several gold projects underway in the Laverton region and in the Pine Creek Orogen of the Northern Territory; initial drilling results are highly encouraging particularly bonanza intercepts at Burtville East including\n 15m at 53.94g/t gold from 27m (announced on 14 July 2022).\n \n \n ·\n \n Pallas Resources Limited (6.0% held):\n \n Completion of maiden field programme involving geochemistry and geophysics over five exploration licences (934km2) in Kazakhstan; encouraging results for gold and/or copper observed across all areas and at Sarybastau and Ulkensur in particular.\n \n \n o \n Newly acquired exploration licences include Satpaev (90km2) and Southeast Bay (490km2) which lie within the Chu-Sarysu basin, the third largest sediment-hosted copper basin globally.\n \n \n o \n Preliminary strategic alliance and joint venture agreement signed with a major multinational base metal producer, and a separate term sheet received from a second major.\n \n \n ·\n \n Annamite Resources Holdings Pte. Ltd.\n \n (5.8% held): Identification of a significant porphyry Cu-Au system at the Sokdee Project in Laos; initial drilling includes intercepts of 60m @ 0.22g/t Au, 0.41% Cu and 88ppm Mo from 24m and 3m @ 9.2g/t Au, 0.51% Cu and 49g/t Ag from 64m at Namthom.\n \n \n o \n Significant geochemical anomalism and geophysical anomalies suggest the continuity of mineralisation for 1km x 1km at Namthom and ...