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Ariana Resources hits quarterly production of 5,125 ounces of gold at Kiziltepe

Ariana has a long track record of successful operations in Turkey

Ariana Resources PLC -

Ariana Resources PLC (LON:AAU) said it produced 5,125 ounces of gold at its Kiziltepe mine in Turkey during the quarter ended September 30, 2020.

Kiziltepe is part of the Red Rabbit joint venture with Proccea Construction and is 50%-owned by Ariana.

Ariana continues to guide for full-year production of 18,000 ounces.

"Material movements remain very high, while process plant throughput remains well above average, setting yet another record for the operation,” Ariana managing director Dr Kerim Sener said in a statement.

“The mill reached an annualised throughput rate of almost 230,000 tonnes per annum which represents an increase of over 53% above the feasibility designed rate. Production from our highest-grade pit, Arzu South, came to a close during August and production has shifted entirely to the Arzu North and Derya pits.

Meanwhile, the mine continues to maintain a stockpile of over 160,000 tonnes, sufficient to cover about ten months of mill feed at average throughput rates,” he added.

Quick facts: Ariana Resources PLC

Price: 4.9075 GBX

AIM:AAU
Market: AIM
Market Cap: £52.49 m
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