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Ariana's latest exploration could extend Kiziltepe mine life

Ariana Resources has hailed results from final phase drilling at the Kiziltepe mine area in Turkey, which could lead to further increases in the mine life.

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Drilling results extend the Kiziltepe vein system

Ariana Resources (LON:AAU) has hailed results from final phase drilling at the Kiziltepe mine area in Turkey, which could lead to further increases in the mine life.

Kiziltepe is currently being constructed and will be 50% owned by the firm once it is  completed in the second half of 2016.

Ariana managing director Dr Kerim Sener said: "The results are fully in line with our expectations following the establishment an Exploration Target in this area, which has the potential to double the current resources at Kiziltepe and will become a key focus for further exploration efforts.

"In time, such additions to the resource base may further increase the mine life of Kiziltepe well beyond the eight years currently planned.  In addition, we are pleased to note that we will be submitting new forestry permit applications to enable drilling through this area as part of a broader programme."

Near surface pre-production drilling over the Arzu South area, included assays of  5m at 3.23 g/t gold + 68.60g/t silver,  while three new holes into Arzu Central, between the Arzu North and Arzu South production areas, confirmed the potential of a 600m extension to the known mineralised strike length.

Sener added: "We are very encouraged by these results, following in such quick succession after the excellent drilling results from our Kizilcukur site, as announced on 18 January 2016. 

"We look forward to announcing further exploration drilling results during early 2016.  Such results are contributing significantly to our view that there will be extensions to the projected mine life at the Kiziltepe Mine."

Earlier this month, the junior miner said a drill and rock sampling programme at Kizilcukur, 22km north east of Kiziltepe, had indicated gold grades of 7.6 g/t and 3.5g/t up to 60m below the surface with notable silver as well.

Kizilcukur has potential to become a higher-grade satellite operation for Kiziltepe, according to Sener, who said the fact that highest grades were found nearest the surface would help an open pit operation.

Quick facts: Ariana Resources PLC

Price: 1.9 GBX

AIM:AAU
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Market Cap: £20.13 m
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