14th May 2019 13:35
LONDON (Alliance News) - Ariana Resources PLC is getting ready to carry out further work at the Salinbas project in Turkey, it said Tuesday, following permitting approval.
Ariana has had the licence at Salinbas extended for ten years by the country's General Directorate of Mining & Petroleum Affairs, while forestry permits for drilling at Ardala on Salinbas have also been granted.
Ariana has now started site preparation at Ardala, such as road-building, and is now moving the rig to start a 2,000 metre drilling programme "imminently".
Managing Director Kerim Sener said: "This is an excellent set of outcomes for the future development of the Salinbas project, which have converged simultaneously. Now we have secured all of the permits required for the drilling of the Ardala licence we have much greater flexibility to drill-test some of the key targets defined in earlier exploration.
"An initial 2,000 metre of reverse circulation drilling is due to commence on the Ardala licence imminently and is expected to conclude by early June. In addition, achieving the upgrade of the Salinbas licence to operational status is a particularly important development, as it will secure our rights to that property for ten years."
Ariana shares were 1.6% higher on Tuesday afternoon in London at 1.93 pence each.
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