20th Jan 2014 11:07
LONDON (Alliance News) - Ariana Resources PLC Monday said it has received positive results from the 2013 drill programme at the Eldorado Gold Corporation joint venture in Turkey.
The copper, gold and silver exploration and development company said drilling has confirmed the continuity of mineralisation in the area between the Ardala gold, copper and molybdenum porphyry and the Salinbas gold and silver zone.
The company said the best intercepts from drilling included a 119.5 metre space at 0.71 grams per tonne gold, 0.21% copper and 0.01% molybdenum, and 236.3 metres at 0.34 grams per tonne gold and 0.06% copper.
Ariana also said it found deep high-grade intercepts at the Ardala site including 4.2 metres at 6.74 grams per tonne gold and 2.8 metres at 3.34 grams per tonne gold, 38.96 grams per tonne silver and 2.56% zinc.
The company has a 49% stake in the joint venture, which has a maiden resource of 1.09 million ounces inferred and indicated resources.
Ariana Resources shares were up 9.5% to 1.15 pence per share, putting them in the top twenty AIM movers in Monday morning.
By Tom McIvor; [email protected]; @TomMcIvor1
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