11th Jan 2017 09:40
LONDON (Alliance News) - Ariana Resources PLC on Wednesday said its Kiziltepe mine in the Red Rabbit gold-silver project in western Turkey is now largely operational, having been slightly delayed.
Ariana had targeted Kiziltepe becoming operational in mid-December, but it has been delayed due to very wet weather at the site in December and snowfall in January.
Process piping and electrical work is now fully completed at the project, Ariana said, with the process plant at the site now ready for operational start-up.
Commissioning of the ball mill is done and wet commissioning of the process plant is largely done, with thickener tests to be completed in the coming week. Dry commissioning work has been completed and the crushers and screens at the project are fully operational.
Ariana said around 7,000 tonnes or ore, ranging from grades of 0.5 to 2.7 grams of gold per tonne is stockpiled ready for the first full-scale tests and start-up of the plant.
The firm said revisions to its resource estimates are ongoing following recent drilling work at Kiziltepe, with an improved mining plan for the project also underway.
"Following a productive site visit conducted in the last few days, we are very encouraged to report that the Kiziltepe mine is now largely operational, following the successful completion of major construction in December," said Ariana Managing Director Kerim Sener.
"The company is also advancing work programmes on its other projects to enhance its future production profile once Kiziltepe enters production and we look forward to updating the market on this activity in due course," he added.
Shares in Ariana were down 7.9% to 1.73 pence on Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2017 Alliance News Limited. All Rights Reserved.
Related Shares:
Ariana