(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.
Ariana (AAU)