(Alliance News) - Ariana Resources PLC on Thursday touted drilling results from its Salinbas project in Turkey, which defined wide zones of gold mineralisation in several areas.
Ariana is a mineral exploration and development company with gold mining interests in Turkey, Cyprus and Kosovo. Salinbas is in north-eastern Turkey, located within the multi-million-ounce Artvin Goldfield.
Resource drilling was completed at the upper Salinbas area, the firm told investors, marking a total of 5,928.8 metres completed for 61 diamond holes since January.
Early drilling results included 12.8 metres at 1.34 grams per tonne of gold, and 3.3 grams per tonne of silver from surface.
According to Ariana Resources, these drilling results "add significant confidence" to the existing resources, and allow sufficient resolution to potentially upgrade the resource classification in areas which are currently classified as inferred resources.
"The substantial acceleration of the project since then has now yielded the longest mineralised intercept ever recorded on the project at Ardala, the discovery of a potentially significant intermediate-sulphidation system at Hizarliyayla, and successful in-fill drilling results from the Salinbas deposit itself," said Managing Director Kerim Sener.
Sener added: "These results collectively attest to the very high prospectivity of the region and continue to demonstrate that we remain at a very early stage in the overall development of this project area."
Ariana Resources shares were trading 7.4% higher at 2.42 pence each in London on Thursday morning.
By Holly Beveridge, Alliance News reporter
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Ariana (AAU)