(Alliance News) - Ariana Resources PLC said Thursday it has been granted a new operational licence for its Salinbas Gold project, located in the Hot Gold Corridor in Turkey.
The renewal of the Hizarliyayla licence to operational status was approved for ten years by the General Directorate of Mining and Petroleum Affairs.
Ariana is now awaiting the renewal of the Ardala operational licence following positive regulatory site inspections and ministerial approval.
Also, the company is reviewing the Salinbas operational licence forestry application submission, to allow for future drilling.
Production-wise, higher-grade and deeper intercept was encountered in drill hole ARD022, in addition to the intercepts reported previously.
"The grant of the Hizarliyayla operational licence is a significant step forward for the company and adds further confidence to our ground-holding in this highly prospective region. With two 10-year operational licences now granted and a third operational licence awaiting its extension, the project is reaching a decision point concerning a major new work programme involving further drilling and technical studies, including the preparation of a full statutory Environmental Impact Assessment. These studies will be undertaken in parallel with the commencement of a pre-feasibility study in due course," said Managing Director Kerim Sener.
Shares in Ariana Resources were up 2.4% at 2.10 pence on Thursday.
Ariana (AAU)