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Alliance News


Ariana Resources Finds Potential Multi-Million Ounces Gold At Salinbas

Tue, 14th Nov 2017 11:48


LONDON (Alliance News) - Minderal exploration and development company Ariana Resources PLC said Tuesday it has discovered the potential for multi-million ounce gold deposits at the Hot Gold Corridor on its Salinbas gold project in Turkey following exploration work.

There is potential for "sizeable" systems containing multiple elements near the Ardala Porphyry, with the scale and complexity of the systems indicating the potential for multi-million ounce gold deposits and significant base metals.

Ariana said it has also discovered a "significantly" anomalous zone 1.4 kilometres long and 0.2km wide, with gold, silver, copper, lead, and zinc geochemistry identified at Ardala North on the project.

Rock-chip assay results include 11.20 grammes of gold per tonne of ore plus 131 grammes silver, 3.26% inferred copper, and 0.24% inferred lead. Another result shows 4.35 grammes per tonne gold, 64 grammes silver, 1.15% copper, and 0.25% lead.

Old workings mapped and sampled near the Ardala Porphyry gave encouraging results with significant multi-metal indications.

Managing Director Kerim Sener said: "The exploration team are very excited by these results and are continuing to appraise large amounts of incoming data from site, which will lead towards a further important announcement concerning the Salinbas area.

"This scale and complexity of the mineral system, comprising a large nested porphyry complex significantly enriched in gold, silver, copper and molybdenum, with the associated gold-silver deposit at Salinbas, underscores our view that this region has the potential to host multi-million ounce gold deposits and significant base-metal systems."

Ariana shares were up 2.6% Tuesday at 1.36 pence per share.

By George Collard; georgecollard@alliancenews.com

Copyright 2017 Alliance News Limited. All Rights Reserved.

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