Sound Energy #SOU provides an update on a potential farm-in and operational progress in Morocco Watch Now

Less Ads, More Data, More Tools Register for FREE

IN BRIEF: Ariana Resources Gets Big Resource Estimate For Salinbas

Thu, 30th Jul 2020 14:32

Ariana Resources PLC - London-based gold exploration and development company with joint venture gold mining operations in Turkey - Announces wholly-owned Salinbas project in Turkey increased its output to 1.5 million ounces from 1.0 million ounces. Salinbas is owned through its subsidiary Pontid Madencilik Ltd. The Salinbas project is composed of the Salinbas deposit and Ardala porphyry . The Salinbas deposit comprises of 8.4 million tonnes of ore at 2.2 grammes per tonne of gold as well as 16.9 grammes per tonne of silver for 0.6 million ounces of gold and 4.6 million ounces of silver. The Ardala Porphyry complex, a low-grade, high-tonnage deposit, comprises of 66.4 million tonnes of ore at 0.44 grammes per tonne of gold for 0.9 million ounces, plus 3.3 million ounces of silver, 110,000 tonnes of copper and 4,200 tonnes of molybdenum, which includes a higher-grade core of 32.5 million tonnes of ore at 0.51 grammes per tonne of gold and 0.2% of copper. Managing Director Kerim Sener says: "This new resource estimate represents a major increase in the resource, confirming the project as having multi-million ounce, multi-commodity potential and indicates further growth opportunities."

Current stock price: 5.44 pence

Year-to-date change: more than doubled; 2.48p on December 31

By Greg Roxburgh; gregroxburgh@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

Related Shares

More News

UK TRADING UPDATE SUMMARY: Brickability Recovering Well From Pandemic

UK TRADING UPDATE SUMMARY: Brickability Recovering Well From Pandemic

4 Aug 20 19:16

IN BRIEF: Ariana Resources Gets Big Resource Estimate For Salinbas

IN BRIEF: Ariana Resources Gets Big Resource Estimate For Salinbas

30 Jul 20 14:32

Ariana Resources Expects Big Demand For "Ultimate Form Of Money" Gold

Ariana Resources Expects Big Demand For "Ultimate Form Of Money" Gold

28 Jul 20 14:54

UK TRADING UPDATE SUMMARY: eEnergy And BigDish Welcome Sunak Stimulus

UK TRADING UPDATE SUMMARY: eEnergy And BigDish Welcome Sunak Stimulus

9 Jul 20 15:56

Login to your account

Don't have an account? Click here to register.