(Alliance News) - Ariana Resources PLC said Tuesday it has been granted a renewal of its Ardala operational licence at the Salinbas gold project in Turkey for five more years until June 3, 2024.
The extension was granted by the General Directorate of Mining & Petroleum Affairs, and the operating permit over the Ardala area was expanded substantially, to cover the known extents of the Salinbas, Salinbas North and Ardala mineralisation.
Ariana expects to restart resource drilling programmes on the licence in the second quarter of 2020, with environmental baseline and scoping studies underway.
"The renewal of this key licence for the Salinbas Project is a major milestone for the company. The Ardala licence contains a large part of the existing Salinbas gold-silver JORC resource and the entirety of the Resource established for the Ardala copper-gold-molybdenum porphyry," said Managing Director Kerim Sener.
"We are also particularly pleased that MAPEG has accepted our application for a significant increase in area of our operating permit, which now provides us with the right to undertake mining activities across the entire mineralised area within the licence," Sener added.
Shares in Ariana Resources were up 0.6% at 1.89 pence on Tuesday in London.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Ariana (AAU)