Ariana Resources PLC - TAVSAN PROJECT UPDATE
TAVSAN PROJECT UPDATE
· Rock-chip samples collected from a new discovery 5km north of the current Tavsan resource area, included the following results:
• 3.59 g/t Au + 8.1 g/t Ag
• 2.13 g/t Au + 5.0 g/t Ag
• 1.65 g/t Au + 4.7 g/t Ag
· Drilling results from this discovery zone provided initial intercepts including 4m @ 1.46g/t Au + 3.8g/t Ag + 0.45% Cu almost from surface.
· Advanced process metallurgical testwork, including column-leach and agglomeration tests, underway and nearing completion.
· Geotechnical and hydrological drilling, preliminary site plan and process flow-sheets are completed.
· Environmental Impact Assessment ("EIA") considerably advanced and reaching completion.
· Rock-saw channel sampling programme for the purposes of supporting a resource upgrade are due to commence from late
"Our exploration team has remained highly active across the Company's portfolio and we are particularly pleased to announce the latest results from the
During Q2 2019, the Ariana exploration team successfully completed a soil portable X-Ray Fluorescence ("pXRF") and rock-chip sampling programme over the Tavsan Far North target area, historically defined by two anomalous rock-chip samples (Sample # 50162: 3.40 g/t Au and Sample # 50166: 1.03 g/t Au). A total of 440 soil samples and 32 rock-chip samples were collected to help define a drillable target.
An initial 50x50m soil grid was established over the 0.5km study area around the historically acquired rock-chip samples. The results of this work defined two highly anomalous (500-1000ppm) copper targets. The first target, with dimensions of 330m x 80m, corresponds to an area in which the historic samples were taken. The second target, with dimensions of 200m x 175m, was defined 600m northwest of the first and represents a completely new and untested zone.
The soil sampling programme was followed up with 32 rock-chip samples collected from within these target areas. These rock-chip samples returned with several significantly anomalous results from both areas, including: 3.59g/t Au + 8.1g/t Ag, 2.13g/t Au + 5.0g/t Ag, 1.65 g/t Au + 4.7 g/t Ag and 1.50 g/t Au + 3.9 g/t Ag. In total, 9 rock-chip samples exceeded 1 g/t Au. All of these samples were taken from outcrop and float material of intensely gossanous and limonitic altered schists, at the contact of an interpreted thrust zone.
The Ariana team then completed a four hole reconnaissance diamond drill hole programme, testing the periphery of the largest anomaly in which outcrops of the known mineralisation are exposed. The drill holes tested the target to a maximum depth of 25m. Results of the drilling included the following near surface intercepts:
TAV-D03-19: 4m @ 1.46 g/t Au + 3.8 g/t Ag + 0.45% Cu (from 1m below surface)
Including: 1.8m @ 0.42 g/t Au + 2.8 g/t Ag + 2.40% Cu
TAV-D04-19: 1m @ 0.40 g/t Au + 1.1 g/t Ag + 1.12% Cu
Following these initial positive results from both the surface geochemistry and drilling, a second phase of pXRF soil sampling comprising an additional 1800 samples is now planned. This work will fully define the extents of the surface geochemical anomalies within the licence area, but also the extents of a structural corridor which appears to control and focus the mineralisation. In addition, a rock-saw channel sampling programme focused on current resource areas and their extensions will be undertaken for the purposes of supporting a resource update over the entire project. This latter programme is to replace a resource drilling programme planned for earlier in the year, which was limited in its extents and would not have enabled a more extensive resource update. These work programmes are due to commence from late September.
Meanwhile work on various aspects of an internal Feasibility Study on the
The results of geotechnical and hydrological drilling are being used to support the Feasibility and EIA. In addition a preliminary site plan (Figure 1) and process flow-sheets for the heap-leach operation are completed.
Figure 1: General site layout of the
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
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The information in this announcement that relates to exploration results is based on information compiled by Dr.
Ariana is an exploration and development company with mining operations focused on epithermal gold-silver and porphyry copper-gold deposits in
The Company's flagship assets are its Kiziltepe and Tavsan gold projects which form the
For further information on Ariana you are invited to visit the Company's website at www.arianaresources.com.
Glossary of Technical Terms:
"Ag" chemical symbol for silver;
"Au" chemical symbol for gold;
"Cu" chemical symbol for copper;
"g/t" grams per tonne;
"oz" Troy ounces;
"pXRF" portable X-Ray Fluorescence.
This information is provided by RNS, the news service of the
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