18th Jan 2017 10:31
LONDON (Alliance News) - Ariana Resources PLC on Wednesday said it has identified 37 target areas at the Salinbas gold project in Turkey and will undertake exploration work this year to establish the continuity of mineralisation from Salinbas-Ardala through to Hizarliyayla.
The miner purchased the project in December and said it has prioritised which targets of the many identified will be pursued first.
Ariana said some of the "significant intercepts that warrant follow-up" include 125 metres at 2.44 grammes gold per tonne plus 0.3% copper, 34.5 metres at 1.75 grammes gold and 164 metres at 0.16 grammes gold, 0.3% copper and 120 parts per million molybdenum in the Ardala area.
A string of significant rock-chip and soil geochemical anomalies will also need following up, mainly containing gold, silver, copper and molybdenum. The project area also includes targets developed around the Salinbas gold and silver deposit, Ariana said, as well as the copper, gold and molybdenum porphyry at Ardala and the gold and silver system in Hizarliyayla.
In addition, Ariana is planning to undertake exploration along the Hot Gold Corridor during 2017 to establish the continuity of mineralisation from Salinbas-Ardala through to Hizarliyayla, the company said.
"We will be providing further updates on the project during the months ahead and our teams are looking forward to continuing the exploration within an area that, along with Hot Maden, is proving to be an exceptionally prospective goldfield with multi-million ounce potential," said Managing Director Kerim Sener.
Ariana shares were up 1.5% to 1.78 pence per share on Wednesday morning.
By Joshua Warner; [email protected]; @JoshAlliance
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