Ariana Resources PLC
18 July 2007
18 July 2007
AIM: AAU
ACQUISITION OF SURFACE-RIGHTS: KIZILTEPE PROSPECT
Ariana Resources plc ('Ariana' or 'the Company'), the gold exploration company
focused on Turkey, is pleased to announce the acquisition of surface-rights on
part of the Arzu South Vein at the Kiziltepe Prospect.
Highlights
• Three blocks of land purchased for a total of 28,775m2
• Surface-rights over half of the Arzu South Vein have been secured
• Necessary operational and environmental permits are in place
• Bulk-sampling of the Arzu Vein to be initiated by September 2007
The Company has completed the purchase of three registered blocks of
agricultural land which lie above the indicated resource at the Arzu South Vein.
The land acquired totals 28,775m2 and covers half of the total exposed Arzu
South vein system. A payment of 31,900 YTL (approx. £12,300) has been made to
the original land-owners, representing a cost of approximately 43 pence per
metre squared. The deeds have been transferred to our operating subsidiary in
Turkey (Galata Madencilik San. ve Tic. Ltd. Sti.). The acquisition of
surface-rights complement the mining, forestry and other permits the Company has
already secured for part of the Kiziltepe prospect.
The purchased land provides the Company with secure surface-rights over an
important part of the Arzu vein system. This is significant as approximately 100
tonnes of material is scheduled to be extracted from the vein by bulk-sampling
in September 2007, which will involve modification of the ground surface. This
trial-mining will help to derive important operational data for a scoping study
and provide adequate material for second-stage metallurgical test-work.
Dr. Kerim Sener, Managing Director, commented:
'The acquisition of the surface-rights represents an important step for the
Company towards achieving its objective of establishing an operation at
Kiziltepe. Towards the end of the year we will initiate bulk-sampling from an
area of the Arzu vein system as part of our planned scoping study. The purchase
of overlying agricultural land and our existing forestry permits provide us with
the ability to undertake this trial mining.'
'We would also like to take this opportunity to express our gratitude to the
people of Sindirgi, who encourage our activities at Kiziltepe. The purchase of
the land took only ten days to conclude, a feat made possible by this invaluable
support. The acquisition demonstrates that Ariana has both the capability and
the necessary community backing to achieve its longer term aims at Kiziltepe.'
Contacts:
Ariana Resources plc
Michael Spriggs, Chairman
Kerim Sener, Managing Director Tel: 0207 407 3616
info@arianaresources.com
Beaumont Cornish Limited Tel: 0207 628 3396
Roland Cornish
Bankside Consultants
Michael Padley / Louise Davis Tel: 0207 367 8888
Editors' note:
About Ariana Resources
Ariana is a dynamic exploration company focused on the discovery and development
of epithermal gold-silver and porphyry copper-gold deposits with multi-million
ounce potential within the Tethyan metallogenic belt of Turkey. The Company has
a portfolio of prospective licences covering 1,820km2, selected on the basis of
its advanced in-house remote sensing database.
The Company's flagship asset is the 235km2 Sindirgi Gold Project, which targets
a series of prospects, within a prolific mineralised district in western Turkey.
The project hosts over 45km of gold-silver bearing epithermal quartz veins.
Ambrian Partners Limited and King & Shaxson Capital Limited are joint brokers to
the Company and Beaumont Cornish Limited is the Company's nominated adviser.
For further information on Ariana you are invited to visit the Company's website
at www.arianaresources.com.
Ends
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