19th Aug 2021 14:27
Ariana Resources PLC - mineral exploration and development company with assets in Turkey - Reports drilling results from the Karakavak vein in the Karakavak area of the Kiziltepe Sector. Holds 24% interest in Karakavak, which is part of a joint venture with Proccea Construction Co and Ozaltin Holding AS. Results include 3.0 metres at 2.40 grams per tonne of gold and 1.7 grams per tonne of silver; 4.6 metres at 1.36 grams per tonne of gold and 2.2 grams per tonne of silver; and, 5.1 metres at 1.10 grams per tonne of gold and 1.4 grams per tonne of silver.
Managing Director Kerim Sener says: "These results build on the initial drilling programme announced in 2017 and have confirmed the expected geometry of the main vein. Unlike the very steeply dipping veins at Kiziltepe, the veins at Karakavak appear to be moderately dipping to the south. This geometry is more favourable for the development of potential open-pits, especially given the general southward slope of the topography in this area."
Plans to complete a resource estimate on the basis of the areas tested to date. Also plans to define a JORC exploration target for prospective vein extensions.
Current stock price: 4.81 pence, up 3.4% on Thursday afternoon
Year-to-date change: down 6.6%
By Scarlett Butler; [email protected]
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