Ariana Regulatory News (AAU)

11 Dec 2006 09:00

Ariana Resources PLC11 December 2006 11 December 2006AIM: AAU EXPLORATION UPDATE ON THE GOVELI GOLD PROJECT Ariana Resources plc ("Ariana" or "the Company"), the gold exploration companyfocused exclusively on Turkey, provides an update on exploration at its Goveligold project in western Turkey. •Gold mineralised zone measures at least 5km long and 0.5km wide •Grades of up to 4.16 g/t Au and 1.72% Nickel from composite rock-chip sampling •Follow up exploration underway to define drill targets Geological mapping and a programme of systematic rock-chip sampling have defineda zone of pervasive gold mineralisation and hydrothermal alteration measuring atleast 5km long and up to 0.5km wide along the discontinuous northeast strikingthrusted contact between Cretaceous age marble and ophiolitic units withPrecambrian age basement schists and gneiss. A total of 586 samples have beencollected from a combination of 50m by 50m and 25m by 25m spaced composite rockchip grids, with a peak gold grade of 4.16 g/t. Sixteen samples graded above0.5% Ni with peak grades of 1.72% Ni and 0.15% Co collected proximal to alteredophiolite. A programme of reconnaissance rock-saw channel sampling has also been completedalong road cuts within an area showing strong alteration. A total of 141 sampleswere collected and the results confirm the broad distribution of anomalous gradegold mineralisation at surface, including 0.49 g/t Au over 23m and 0.34 g/t Auover 22m. Kerim Sener, Exploration Director, commented:"Our systematic exploration of the Goveli project has defined a significant zoneof gold mineralisation measuring 5km long and up to 0.5km wide in places. Fieldobservations indicate that the mineralisation is associated with a complex arrayof faults and fracturing. Structural mapping, geophysics and a programme oftrenching are planned to define possible high-grade feeder zones that would be atarget for a future drilling programme in 2007. " About the Goveli projectThe Goveli gold project comprises three exploration licences totalling 44.5km2in the Manisa Province of western Turkey, 125km northeast of the coastal city ofIzmir and 60km southeast of Ariana's Sindirgi gold project. The central licencewas acquired through competitive auction and two contiguous licences wereacquired from Newmont Altin Madencilik Limited Sirketi, a subsidiary of NewmontMining Corporation (NYSE & ASX: NEM; TSX: NMC) ("Newmont"), in July 2006.Newmont retains a Net Smelter Returns royalty of 2% on future production fromthe Goveli project. Sampling and Assaying ProceduresThe Goveli exploration programme has consisted of the collection of 586composite rock-chip samples and 13 float samples. Of the rock-chips, 482 samplesreturned grades of less than 0.1 g/t Au (82% of the total), 72 samples between0.1-0.5 g/t Au (12% of total), 17 between 0.5-1 g/t Au (3% of total), and 15greater than 1 g/t Au (3% of total), with a peak grade of 4.12 g/t Au. All samples have been prepared by the ALS Chemex preparation facility in Izmirand assayed for gold by 30g fire assay at the ALS Chemex laboratory in Romania.Batches of 44 samples are submitted to the laboratory for simultaneous fireassay and batch control is provided by standard and blank samples inserted inthe sample sequence in 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. Contacts:Ariana Resources plcSteven Poulton, Chief Executive Tel: 01235 511 767s.j.poulton@arianaresources.com Mobile: 0797 408 6712 Bankside ConsultantsMichael Padley / Susan Scott Tel: 020 7367 8888 About Ariana ResourcesAriana is a dynamic exploration company focused on the discovery of epithermalgold-silver and porphyry copper-gold deposits with multi-million ounce potentialwithin the Tethyan metallogenic belt of Turkey. The Company has a portfolio ofprospective licences covering 1,755km2, selected on the basis of its advancedin-house remote sensing database. The Company's flagship asset is the 235km2 Sindirgi gold project, which targetsa series of prospects, within a prolific mineralised district in western Turkey.The project hosts over 45km of gold-silver bearing epithermal quartz veins. Atwo rig drilling programme is currently focussed on defining resources (incompliance with the JORC code) at the prospects of Kiziltepe and Kepez. Ambrian Partners Limited and King & Shaxson Capital Limited are joint brokers tothe Company and Beaumont Cornish Limited is the Company's nominated adviser. For further information on Ariana you are invited to visit the Company's websiteat www.arianaresources.com. This information is provided by RNS The company news service from the London Stock Exchange