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Pin to quick picksAriana Share News (AAU)

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Samples From Ariana Resources' Tavsan Project Return Positive Results

Mon, 09th Sep 2019 13:43

(Alliance News) - Ariana Resources PLC on Monday announced positive results from its Tavsan project in Turkey and intends to begin a rock-saw channel programme in September.

The exploration and development firm said rock-chip samples from a new discovery at Tavsan found 3.6 grammes of gold per tonne of ore and 8.1 gramme of silver per tonne of ore. Another sample returned 2.2 grammes of gold per tonne of ore and 5.0 grammes of silver per tonne of ore.

Ariana said it is approaching completion on its environmental impact assessment at Tavsan and is now planning a rock-saw channel programme intended to support a resource upgrade.

Ariana Managing Director Kerim Sener said: "The latest discovery shows that there is significant potential for the project to yield additional resources. Furthermore, work on the eeasibility and [environmental impact assessment] is continuing successfully and we are looking forward to completing these studies in the coming months. Drilling undertaken for the purposes of the EIA earlier this year has been completed, although certain resource drilling was postponed and will instead be replaced by a rock-saw channel programme over the primary resource areas, commencing in late September. We are very encouraged by new discoveries of mineralisation outside of the initial mine plan, as these indicate that there is further scope to grow the Tavsan project."

Shares in Ariana were up 2.4% at 2.28 pence in London on Monday afternoon.

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IN BRIEF: Ariana Resources provides GBP500,000 loan for Apliki project

Ariana Resources PLC - exploration firm with interests in Turkey, Cyprus and Kosovo - Provides convertible loan to Venus Minerals Ltd of GBP500,000 with a 10% coupon. Says loan will be used to progress the Apliki copper project in Cyprus. The firm recently provided an updated mineral resource estimate for the project. Venus holds management control of the project.

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IN BRIEF: Ariana Resources shares rise with upgraded resource estimate

Ariana Resources PLC - exploration firm with interests in Turkey - Says the updated mineral resource estimate for its Apliki copper project in Cyprus shows a global measured, indicated, and inferred resource of roughly 17 million tonnes at a grade of 0.3% to 0.7% copper. Says the project represents a developed open-pit with significant unmined resources available for modern extraction.

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IN BRIEF: Ariana Resources expands exploration footprint in Kosovo

Ariana Resources PLC - gold producer in Turkey and explorer Kosovo and Cyprus - Says 75%-owned Western Tethyan Resources Ltd is granted a further exploration license in Kosovo. The new Hertica license covers 58 square kilometres in north east Kosovo. It is prospective for copper and gold. Notes that Western Tethyan Resources has three other license applications in Kosovo awaiting approval by the Independent Commission for Mines & Minerals.

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29 Jun 2022 12:45

IN BRIEF: Ariana Resources annual profit gets boost from disposals

Ariana Resources PLC - exploration firm with interests in Turkey - Posts a pretax profit of GBP7.7 million in 2021, up 51% from GBP5.1 million the previous year. Company says the main driver of this increase was the partial disposal of its interest in Turkey in February. Ariana reduced its 50% interest in the Kiziltepe mine and 100% interest in the Salinbas project to a collective 24%. Looking forward, company aims to advance its long-term interest in south-eastern Europe and to start investing in "high-impact early-stage exploration opportunities".

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Ariana reports progress across its operations

(Sharecast News) - Europe-focussed gold explorer and developer Ariana Resources updated the market on its operations on Thursday, reporting that the Tavsan project development was being transitioned into the construction stage.

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IN BRIEF: Ariana Resources seals 12 drill holes at Tavsan in Turkey

Ariana Resources PLC - exploration firm with interests in Turkey - Says it has completed 12 geotechnical drill-holes at the Tavsan gold project in Western Turkey. 96 new holes have been drilled within the mineral resource area. Results received include 55 holes which intercepted gold mineralisation. Ariana says the primary objective of the 2021/2022 drilling programme at Tavsan was to provide infill drilling data, primarily into the measured and indicated categories.

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IN BRIEF: Ariana Resources shares rise on progress at Tavsan mine

Ariana Resources PLC - exploration firm with interests in Turkey - Says its Tavsan gold and silver mine located in western Turkey is targeting production of up to 30,000 ounces of gold per annum over the next eight years. Notes it completed over 3,900 meters of resource drilling at Tavsan between December and March. To conduct a new mapping and exploration project at Tavsan to identify new zones of mineralisation.

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