16th Jun 2016 07:52
LONDON (Alliance News) - Ariana Resources PLC on Thursday said progress has been made on exploration work at the Kiziltepe area of the Red Rabbit gold and silver project in western Turkey.
Ariana said a new vein system has been discovered near the boundary of the waste-rock dump site at Kiziltepe and initial sampling has returned rock-chip grades of up to 5.27 grams per tonne of gold and 21.5 grams per tonne of silver.
Ariana said planning for the drilling programme at the project in July and August is at an advanced stage and environmental permissions for the drilling have been secured.
It said the project is on track to deliver first production in the second half of 2016.
Ariana shares were down 0.3% to 1.42 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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