Ariana Resources PLC
16 November 2005
16 November 2005
AIM: AAU
ARIANA DEFINES LARGE GOLD GEOCHEMICAL ANOMALY AT KINIK PROSPECT IN TURKEY
Ariana Resources plc ('Ariana' or 'the Company'), the gold exploration company
focused exclusively on Turkey, announces the discovery of a significant gold in
soil anomaly at the Company's 100% owned Kinik gold prospect in Balikesir
Province, western Turkey.
* Substantial gold in soil geochemical anomaly identified
* Presence of potentially significant gold system strongly indicated
* Systematic follow-up programme to be undertaken
This extensive (750m by 50m) anomaly was defined during a soil sampling
programme designed to test the extent of gold mineralisation located on the
Kinik prospect by reconnaissance channel sampling in 2004.
In October 2005, an area covering 0.7km x 1.3km was sampled at 100m line
spacing, with a total of 230 soil samples collected at intervals of between 25m
and 50m. The anomaly has been defined by samples exceeding a threshold of 0.1 g/
t gold. Of the total samples, 18 (9%) returned values above 0.1 g/t. The peak
soil value was 1.22 g/t Au.
Future work on the Kinik prospect will include an extension of the soil grid and
a systematic programme of rock-chip and channel sampling to test the continuity
of the mineralised zone.
Steven Poulton, Chief Executive, commented:
'We are very pleased with the results from the soil survey at the Kinik gold
prospect, which strongly indicate the presence of a potentially significant gold
mineralised system.
'The discovery testifies to the speed and cost effectiveness of Ariana's
technology-driven exploration model. We are well positioned to make and advance
further discoveries from our proprietary database, which has so far enabled the
Company to build a portfolio of some 61 prospective licences across over
1,000km2 of Turkey'.
Contacts:
Ariana Resources plc
Steven Poulton, Chief Executive Tel: 01235 511 767
s.j.poulton@arianaresources.com Mobile: 0797 408 6712
Bankside Consultants
Michael Padley / Susan Scott Tel: 020 7367 8888
Editors note:
About the Kinik Gold Prospect
The Kinik gold prospect was discovered by the Company's in house remote sensing
database and covers an area of 1,084 hectares. The prospect forms part of the
Ivrindi project which covers an area of 4,826 hectares in Balikesir province,
western Turkey.
Kinik prospect area was identified during analysis of the Company's in-house
remote-sensing database which intersected 48m of mineralisation along a
road-cut. The channel contained higher grades zones of 3.21 g/t over 10m, 3.09 g
/t over 5m and 1.4 g/t over 13m (using a 0.5 g/t Au cut-off) with a peak grade
of 10.42 g/t Au. Previous rock-chip sampling undertaken by the Company at two
separate locations 250m and 900m east and northeast, respectively, of the
original channel has returned grades above 1 g/t.
The Kinik gold prospect is situated in a regional-scale structural corridor
which contains known occurrences of epithermal gold-silver and antimony
mineralisation. The prospect area contains Late Oligocene to Mid-Miocene age,
variably altered, andesitic volcanic rocks, which are juxtaposed against
limestone of Permo-Triassic age. The juxtaposition of these units is caused by a
series of closely-spaced, ENE-trending, north- and south-dipping normal faults
related to graben formation during the Late Miocene.
Sampling and Assaying Procedures
All samples have been prepared by the ALS Chemex preparation facility in Izmir
and analysed by fire assay for gold and multi-element ICP-AES at the ALS Chemex
laboratory in Vancouver.
Dr Kerim Sener, BSc (Hons), MSc, PhD, is Ariana's Exploration Director. A
graduate of the University of Southampton in Geology, he also holds a Master's
degree from the Royal School of Mines (Imperial College, London) in Mineral
Exploration and a doctorate from the University of Western Australia. He is a
Fellow of The Geological Society of London and has worked in geological research
and mineral consultancy in Southern Africa and the Northern Territory of
Australia. He has read and approved the technical disclosure in this regulatory
announcement.
About Ariana Resources
Ariana is a technology-driven exploration company focused on the discovery of
multi-million ounce potential epithermal gold-silver and porphyry copper-gold
deposits within the Tethyan metallogenic belt of Turkey. The Company has a
portfolio of prospective licences covering over 1,000km2, selected on the basis
of its advanced in-house remote sensing database. Ariana's broker is Ambrian
Partners Limited 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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