22nd Jan 2020 11:32
(Alliance News) - Ariana Resources PLC has found high-grade mineralised zones at the Tavsan project, the Turkey-focused miner said Wednesday.
The Tavsan project is part of the Red Rabbit joint venture with Proccea Construction Co, and is 50% owned by Ariana.
The company has completed 156 surface rock-saw channel lines at Tavsan. Significant results include 18 metres at a grade of 5.03 grams of gold per tonne of ore, 9.9 metres at 6.08 grams per tonne, and 31 metres at 1.85 grams per tonne.
London-based Ariana will incorporate over 60 outcrop locations into the next resource estimate for Tavsan, which is set to be completed in the second quarter of 2020. The company is also planning follow-up infill drilling at Tavsan.
Managing Director Kerim Sener commented: "These results reflect extremely positively on the resource-focused work we have been undertaking at Tavsan.
"They demonstrate the sampled areas of outcropping mineralised jasperoid are typically higher grade than the overall resource. Some of these results are exceptional, such as 18 metres at 5.03 grams of gold per tonne, suggesting there is an opportunity to identify several rich zones of structurally-controlled mineralisation within the orebody as a whole, and these higher-grade areas are likely to be encountered from surface to a depth of ten to 20 metres below surface."
As well as Tavsan, the flagship Red Rabbit asset includes the producing Kiziltepe mine. Both projects are in western Turkey, which has some of the largest gold mines in the country. Ariana also owns the Salinbas gold project in the north-east of Turkey.
Shares were 3.6% higher on Wednesday morning in London at 2.90 pence each.
By George Collard; [email protected]
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