22nd Feb 2023 11:02
(Alliance News) - Ariana Resources PLC on Wednesday said it observed positive results from its resistivity geophysical survey at the Kiziltepe gold and silver project in western Turkey.
The AIM-listed mineral exploration and development company, which predominantly focuses on gold mining in Europe, said the results demonstrated presence of extensions to several mined vein systems.
It also confirmed new near-surface drill targets at the far northwest extensions of Arzu North and Arzu South and towards the south-east of the mined vein systems.
The targets defined in this survey are being integrated into a revision of Ariana Resources' JORC exploration target, which will define priorities for future exploration and resource drilling.
It said this is alongside completing a geophysical survey programme across the Sindirgi gold corridor in late 2022, which was undertaken over four prospects in a north-east trending mineralised zone extending from Kiziltepe in the south-west to the Kizilcukur project in the north-east.
"We are pleased to note that several pronounced geophysical anomalies exist along strike of previously mapped and drilled veins, suggesting the potential for further discoveries, particularly in the southeast part of the prospect," said Managing Director Kerim Sener.
"This signals a new area to us which has not previously received much attention from drilling in the past. Beyond the area covered in the survey outlined here, work was also undertaken at Kepez and at Kizilcukur, the results of which will become the subject of future announcements."
Kiziltepe is 24% owned by Ariana and operated via Zenit Madencilik San ve Tic AS in partnership with Proccea Construction Co and Ozaltin Holding A.
Shares in Ariana Resources were down 1.4% to 2.76 pence each in London on Wednesday morning.
By Greg Rosenvinge, Alliance News reporter
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