Ariana Regulatory News (AAU)

30 Mar 2006 09:45

Ariana Resources PLC30 March 2006 ARIANA RESOURCES plc 30 March 2006AIM: AAU EXPLORATION UPDATE Ariana Resources plc ("Ariana" or "the Company"), the gold exploration companyfocused exclusively on Turkey, announces that sampling at its Kiziltepe prospectis providing further confidence in the presence of a potentially significantgold deposit. An update on the generative exploration programme is included withthese results, via which a number of additional opportunities have beenidentified. Highlights: €4.59 g/t Au from reconnaissance sampling on 900m by 300m soil anomaly €2.90 g/t Au over 10.5m from channel sampling on Hale Vein €1.63 g/t Au over 13.4m from channel sampling on Arzu North Vein •Generative exploration accelerated - 72,000km2 covered in systematic exploration Soil Anomaly, Kiziltepe Prospect Subsequent to the Company's announcement on 10th January 2006 of the presence ofa 900m by 300m (>100ppb contour) gold in soil anomaly, a field team fromAriana's Turkish operating subsidiary, Galata Madencilik San. ve Tic. Ltd. Sti.("Galata") has undertaken initial reconnaissance rock chip sampling within thearea. Six rock chip samples have been taken, with a best result of 4.59 g/t Au.Based on these results and on the mapping of additional vein and stockworktargets, Ariana will undertake a systematic rock chip and channel sampleprogramme across the entire area to test the potential for a large, low gradeand bulk tonnage gold deposit, including higher grade vein sections. Hale Vein, Kiziltepe Prospect Galata's field team has also undertaken trenching on Hale Vein, and collected111 samples from channels, approximately 250m south west of the Arzu North Vein.The channels (up to 18.5m in length) were spaced at approximately 20m intervalsalong a strike length of 134m. All six channels intersected gold mineralisation.Channel 11 returned the best intersect of 2.90 g/t Au over 10.5m (with a peakgrade of 8.56 g/t Au) close to an area showing evidence of historical mining.The programme is ongoing. Channel samples have been taken at regular 1mintervals and cut using a diamond saw. Arzu North Vein, Kiziltepe Prospect An eighth channel completed on the Arzu North Vein has returned 1.63 g/t Au over13.4m. Channel eight is located 15m north west of the channels announced by theCompany on 10th January 2006. All eight channels sampled to date haveintersected gold mineralisation. These results extend to 250m in length the mainmineralised zone, which remains open in all directions within a series ofparallel quartz veins, stockwork material and andesite host rock. Generative Exploration Ariana is applying a systematic and rapid exploration strategy in Turkey togenerate and turnover targets selected on the basis of its remote sensingprogramme. The Company provides the following update since August 2005: - 23 licences have been explored (approx. 46,000 ha) - 7 licences have been relinquished (approx. 14,000 ha) - 3 licences have advanced to phase 2, including the Kinik gold prospect (approx. 6,000 ha) - Over 72,000km2 has been analysed by ASTER remote-sensing - Over 80 new targets have been designated for future licence application - 2 dedicated generative exploration field teams of Turkish geologists have been established Steven Poulton, Chief Executive, commented: "Results from sampling at Kiziltepe continue to demonstrate the presence of amajor gold mineralised system, with both high grade vein and bulk tonnagestockwork targets. Ariana is systematically testing the prospect area to defineits economic potential. "Furthermore, with our team of eight field geologists in place, and a strategyof rapidly and cost effectively advancing exploration on several prospectssimultaneously, we expect our results to lead to a number of new and excitingdiscoveries over the coming months". Contacts: Ariana Resources plcSteven Poulton, Chief Executive Tel: 01235 511 767s.j.poulton@arianaresources.cominfo@arianaresources.com Mobile: 0797 408 6712 Bankside ConsultantsMichael Padley / Susan Scott Tel: 020 7367 8888 Editors note: About the Sindirgi Gold Project The Sindirgi gold project covers an area of 224 km2 in Balikesir Province,western Turkey. To date at least five target areas have been defined by Ariana,which include the prospects of Kiziltepe, Kepez, Karaduz, Kavakliduz andKizilcukur. Previous operators have defined over 40km of low sulphidation quartzveins on the project. Ariana acquired the Sindirgi Gold Project from NewmontMining Corporation (NYSE & ASX: NEM; TSX: NMC) in March 2005. Newmont retainsthe right to a royalty of up to 2.5% on future gold production from the Sindirgigold project. Sampling and Assaying Procedures The Hale Vein and Arzu North Vein programmes consisted of the collection of 151composite rock-chip samples of 1m in length. Of these, 90 samples returnedgrades of less than 0.5 g/t Au (60% of the total), 26 samples between 0.5-1 g/tAu (17% of total), 32 between 1-5 g/t Au (21% of total) and 3 samples assayedabove 5 g/t Au (2% of total), with a peak grade of 8.56 g/t Au. All samples have been prepared by the ALS Chemex preparation facility in Izmirand assayed by fire assay at the ALS Chemex laboratory in Vancouver. Re-assayingof all samples assaying greater than 10 g/t gold has also been completed by ALSChemex. Regular standard and blank samples are being used in the sample sequencein line with the Company's quality control procedures. Dr Kerim Sener, BSc (Hons), MSc, PhD, is Ariana's Exploration Director. Agraduate of the University of Southampton in Geology, he also holds a Master'sdegree from the Royal School of Mines (Imperial College, London) in MineralExploration and a doctorate from the University of Western Australia. He is aFellow of The Geological Society of London and has worked in geological researchand mineral consultancy in Southern Africa and the Northern Territory ofAustralia. He has read and approved the technical disclosure in this regulatoryannouncement. About Ariana Resources Ariana is a technology-driven exploration company focused on the discovery ofmulti-million ounce potential epithermal gold-silver and porphyry copper-golddeposits within the Tethyan metallogenic belt of Turkey. The Company has aportfolio of prospective licences covering approximately 1,000km2, selected onthe basis of its advanced in-house remote sensing database. Ariana's broker isAmbrian Partners Limited and Beaumont Cornish Limited is the Company's nominatedadviser. For further information on Ariana you are invited to visit the Company's websiteat www.arianaresources.com. Ariana will be present at the T1PS / Master Investor show (booth 11) at theBusiness Design Centre in London on Saturday, April 1st. Ends This information is provided by RNS The company news service from the London Stock Exchange