11th Oct 2006 08:46
Ariana Resources PLC11 October 2006 11 October 2006 AIM: AAU LICENCE PORTFOLIO SIGNIFICANTLY INCREASED HIGH PRIORITY TARGETS STAKED Ariana Resources plc ("Ariana" or "the Company"), the gold exploration companyfocused exclusively on Turkey, announces a significant expansion to itsexploration portfolio following the completion of a systematic remote-sensingprogramme. €45 new licences granted covering 698km2 across western and eastern Turkey •Numerous high interest potential gold and porphyry copper-gold style targets staked •Exploration portfolio enlarged to 106 licences covering 1,755km2 The Company's generative exploration programme targets the discovery of worldclass bulk-tonnage high-sulphidation style (gold and copper-gold) and veinhosted low-sulphidation style (gold and gold-silver) deposits. At least 120further targets have been defined from the latest programme which integratedsignificant satellite-borne data (ASTER) with data in the Company's proprietaryin-house GIS platform. Forty five new exploration licences totalling 698km2 havebeen secured across the highest priority targets occurring in free ground inwestern Turkey (14 licences), central Turkey (14 licences) and eastern Turkey(17 licences). Ariana's portfolio has subsequently increased to 106 licencescovering 1,755km2. New targets generated for follow-up exploration include: €4km x 5km anomaly in volcanic rocks in an under-explored region €6km x 2km anomaly in complex geology similar to that found in Nevada, USA €2km x 2km anomaly in the centre of a large volcanic complex •Portions of a 16km long anomaly in volcanic rocks €2km long anomaly at the contact between volcanic and metamorphosed rocks Steven Poulton, Chief Executive, commented: "Ariana is making excellent progress towards its strategy of defining a pipelineof exciting projects for resource definition in Turkey. This recent programmehas secured an additional 45 licences across numerous and potentiallysignificant large targets. "Meanwhile, we continue to make strong progress at our existing projects. Inwestern Turkey drilling is underway with two rigs active at the Company'sSindirgi gold project that hosts over 45km of gold-silver bearing epithermalveins and exploration is on going at the Demirci gold project." Contacts: Ariana Resources plcSteven Poulton, Chief Executive Tel: 01235 511 [email protected]@arianaresources.com Mobile: 0797 408 6712 Bankside ConsultantsMichael Padley / Susan Scott Tel: 020 7367 8888 About Ariana Resources Ariana is a well funded technology-driven exploration company focused on thediscovery of epithermal gold-silver and porphyry copper-gold deposits withmulti-million ounce potential within the Tethyan metallogenic belt of Turkey.The Company has a portfolio of prospective licences covering 1,755km2, selectedon the basis of its advanced in-house remote sensing database. Ariana's brokeris Ambrian Partners Limited and Beaumont Cornish Limited is the Company'snominated adviser. For further information on Ariana you are invited to visitthe Company's website at www.arianaresources.com. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Ariana