03:00 Thu 06 Jun 2019
Ariana Resources PLC - KIZILCUKUR DRILLING RESULTS
AIM: AAU
KIZILCUKUR DRILLING RESULTS
Including significant high-grade intercepts
Highlights*:
· Near surface in-fill resource drilling results from the Zeki vein at Kizilcukur include: 6.0m @ 4.21 g/t Au + 205.9 g/t Ag, 5.3m @ 4.04 g/t Au + 171.9 g/t Ag and 6.4m @ 3.44 g/t Au + 89.3 g/t Ag.
· Bonanza grade mineralisation was encountered in one hole, yielding 0.9m @ 30.27 g/t Au + 184.0 g/t Ag (32.9 g/t Au equivalent) in a footwall vein not previously drill-tested.
· Majority of the high-grade results occur over c. 130m of strike to a depth of at least 40m; true widths of veins are c. 3-4m.
· Coarse-screening of samples confirms the presence of a coarse gold fraction (>75 microns) at Kizilcukur.
· New access road has been constructed to the trial mining area, which will be suitable for potential future haulage to the Kiziltepe processing plant.
Dr.
"The latest drilling results from Kizilcukur confirm the potential to establish a satellite source of high-grade ore for the Kiziltepe processing plant. The mineralisation encountered within the top 40m of the Zeki vein system shows sufficiently high grades and widths to support an open pit operation. The occurrence of coarse gold and bonanza grade gold and silver mineralisation in places is highly encouraging.
During Q3 2019 we are expecting to conclude our assessments on the feasibility of hauling ore from Kizilcukur to the Kiziltepe processing plant as part of a bulk processing trial. In anticipation of this, we have already completed the construction of a low-gradient haulage road connecting the trial mining area to the existing road network, enabling excellent access to the site. In addition, we will prepare a revised Mineral Resource estimate upon which we can make appropriate decisions about the future of the project. We expect that Kizilcukur will be an attractive addition to the JV operations, due to the high grades and gold recoveries that have been demonstrated in recent work."
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
Drilling Results
Diamond drilling for a total of 745.8m (for 13 holes) was completed during Q1 2019 at the
The drilling programme confirmed the presence of high-grade mineralisation in the Zeki vein to a depth of approximately 40m below surface (Table 1). Most of these intercepts demonstrate that the true width of the vein is typically 3 to 4m, with a bonanza grade subsidiary structure showing a true width of 0.4m. A few deeper intercepts along the same structure typically showed lower grades, which is consistent with prior drilling data. This suggests that the vein system is particularly enriched in gold and silver at relatively shallow levels. In addition, two drill holes encountered old workings in the NW end of the vein at depths of 20 to 40m below surface, over intercept lengths of 1.3 to 4.5m, which are associated with vein mineralisation in the hangingwall or footwall of the mined areas.
Complete results for the programme were received in
http://www.rns-pdf.londonstockexchange.com/rns/3001B_1-2019-6-5.pdf
Figure 1: Summary map showing certain recent drilling results along with the historic drilling upon which the current resource is defined. The resource is shown as a projection of the steeply SW-dipping vein to surface. The limits of the optimised pit are shown in yellow along with the position of the current stockpiles.
Table 1: Significant down-hole intercepts calculated for the Kizilcukur drilling programme, using a 0.5 g/t Au minimum cut-off and allowing for 0.5m internal dilution. Arranged in order of significance from high to low. Au equivalent (g/t) is calculated based on a gold-silver price ratio of 70:1.
Hole No. |
From (m) |
To (m) |
Intercept (m) |
|
(g/t) |
Au Equiv. (g/t) |
KCR-D09-19 |
2 |
8 |
6 |
4.21 |
205.85 |
7.15 |
KCR-D07-19 |
6 |
11.3 |
5.3 |
4.04 |
171.9 |
6.50 |
KCR-D02-18 |
37.6 |
44 |
6.4 |
3.44 |
89.28 |
4.72 |
KCR-D11-19 |
40.8 |
41.7 |
0.9 |
30.27 |
184 |
32.9 |
KCR-D08-19 |
0 |
4 |
4 |
2.41 |
171.99 |
4.87 |
KCR-D05-19 |
15.3 |
23.1 |
7.8 |
1.11 |
36.1 |
1.62 |
KCR-D01-18 |
17 |
20.1 |
3.1 |
2.71 |
79.61 |
3.85 |
KCR-D06-19 |
8.7 |
13.4 |
4.7 |
1.37 |
37.95 |
1.91 |
KCR-D06-19 |
0 |
2.7 |
2.7 |
0.6 |
114 |
2.23 |
KCR-D06-19 |
5.1 |
7.2 |
2.1 |
0.92 |
107 |
2.45 |
KCR-D03-18 |
26.1 |
29.7 |
3.6 |
0.55 |
59.3 |
1.39 |
Sampling and Assaying Procedures
NQ size drill-core samples from the drilling programme at the Kiziltepe deposit were cut in half by a diamond saw and sent for analysis in batches in line with the Company's quality control procedures. A total of 386 samples were submitted to ALS Global in
Drill core recoveries for all mineralised intercepts average 77%. Loss of core in certain areas is attributable to friable manganese-oxide rich material which occurs typically associated with higher grade zones. Drill holes KCR-D03-19 and KCR-D04-19 intercepted old workings ranging in length from 1.3 to 4.5m, where no core was retrieved.
All samples were assayed for gold using a 50g fire assay. Samples were initially analysed with in line with normal operating procedures for resource drilling (Au-AA24), which requires samples to be sieved to less than 75 microns. As a result, any coarse grained gold particles >75 microns would not form part of the sub-sample being assayed, resulting in potential under-reporting of the grades of mineralised intercepts. In order to assess the potential for coarse gold, 37 samples (out of the original 386; representing approximately 10% of the total) were selected for coarse-screening (metallic screen) and re-assay using the Au-AA26 method on screened undersize and oversize material. This work verified the presence of coarse gold in most samples.
Standard, blank and duplicate samples were inserted in to the sample batches. Quality control checks have determined that all blanks and standards passed and duplicate samples showed excellent correlations. Laboratory sample preparation, assaying procedures and chain of custody are appropriately controlled. The Company maintains an archive of half core samples and a photographic record of all cores for future reference.
Project Summary
The Project covers an area containing a series of sub-parallel quartz veins hosted by ophiolitic units that trend northwest and extend for about two kilometres. The veins exhibit classic low-sulphidation epithermal features and attains a maximum true width of 8m. The Zeki vein extends over a strike length of 820m. Composite rock-chip sampling of 80m strike along this quartz vein returned encouraging assay results of 6m at 3.3 g/t gold, 2m at 9.6g/t gold and 1m at 7.2 g/t gold prior to drill-testing. The peak rock-chip assay result in this area was 152 g/t gold and 1,320 g/t silver.
A JORC 2012 compliant Mineral Resource estimate was prepared for the
Trial mining commenced within the central part of the
Contacts:
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Tel: +44 (0) 20 7628 3396 |
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Editors' Note:
The information in this announcement that relates to exploration results is based on information compiled by Dr.
About
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
In north-eastern
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;
"g/t" grams per tonne;
"JORC" the
"m" Metres;
"oz" Troy ounces;
Ends.
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