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Ariana Resources extends gold mineralisation at Red Rabbit

Published: 02:39 30 Jan 2017 EST

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Another promising find at Red Rabbit

Ariana Resources plc (LON:AAU) has unearthed another potential mineable gold deposit from additional exploration at the Red Rabbit prospect in Turkey.

The gold junior is set to start production soon at Kiziltepe and has been exploring possible satellite deposits in nearby areas.

This latest find was at Banu and comprised a 125m vein with a best intercept of 1m at 7.95g/t.

Previous exploration at another satellite, Fidan, also produced a high grade intercept (4.75m at 4.26 g/t gold), which Ariana  said will be further explored as a priority as it highlights the potential for high grades at the south-eastern end of the Kiziltepe vein system.

Kerim Sener, managing director, said: "Adding a further 125m to the mineralised vein strike at Banu potentially represents a meaningful addition to our resource at this locality. 

“The grades encountered over at least 75m of this additional vein strike demonstrate the potential for extraction from an extended open-pit. 

“Meanwhile, at Arzu Far South we have discovered a vein array which is highly anomalous in gold and particularly silver, which appears to represent the top of the system.  Further drilling, targeting greater depths, may be warranted in this area.

Red Rabbit is a joint venture between Ariana and Turkish firm Proccea Construction.

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