Kinik Drilling Underway

16 Jan 2007 08:30

Ariana Resources PLC16 January 2007 16 January 2007AIM: AAU DRILLING UNDERWAY AT THE KINIK GOLD PROSPECT Ariana Resources plc ("Ariana" or "the Company"), the gold exploration companyfocused on Turkey, announces the commencement of a diamond-drilling programme atthe Company's 100% owned Kinik gold prospect in Balikesir Province, westernTurkey. • Drilling will test a 750m long gold in soil anomaly • Drill rig mobilised and eleven diamond core drill holes planned • Previous gold grades up to 10.4 g/t Au from channel sampling • Prospect discovered by Ariana's remote sensing programme The Kinik prospect is located in the Ivrindi gold project, which covers an areaof 90km(2) in Balikesir province, western Turkey, and lies 70km to the northwestof the Company's Sindirgi Project. The prospect was identified by the Company'sremote sensing programme. A 48m long reconnaissance channel sample along aroad-cut within the prospect area determined the potential for significant goldgrades, with high grade zones of 3.2 g/t over 10m, 3.1 g/t over 5m and 1.4 g/tover 13m (using a 0.5 g/t Au cut-off) with a peak grade of 10.4 g/t Au.Subsequent rock-chip sampling undertaken by the Company at two separatelocations 250m and 900m east and northeast, respectively, of this channelreturned grades above 1 g/t Au. A follow up systematic surface soil samplingprogramme was completed in late 2005. This work identified an extensive (750m by50m) gold in soil geochemical anomaly (above 50ppb Au) along the faulted contactof altered andesitic volcanic rocks and limestone units. An initial eleven diamond core holes are planned in the current drillingprogramme, to depths of up to 100m, to test the continuity of goldmineralisation beneath the soil anomaly. If the results are positive, they willbe used to guide a follow up drilling programme for resource estimation. Steven Poulton, Chief Executive, commented: "We are focused on rapidly drill testing our exploration discoveries. Theresults from the Kinik prospect indicate the presence of a potentiallysignificant gold mineralised system at depth which our drilling programme isdesigned to test. Definition of Kinik and other prospects demonstrates thesuccess and value of the Company's remote sensing strategy. We will drill testthe Kinik prospect while drilling at the Sindirgi gold project is also on-going.We look forward to updating shareholders on the results from these programmes." About the Kinik Prospect The Kinik prospect is situated in a regional-scale structural corridor whichcontains known occurrences of epithermal gold-silver and antimonymineralisation. The prospect area contains Late Oligocene to Mid-Miocene age,variably altered, andesitic volcanic rocks, which are juxtaposed againstlimestone of Permo-Triassic age. The juxtaposition of these units is caused by aseries of closely-spaced, ENE-trending, north- and south-dipping normal faultsrelated to graben formation during the Late Miocene. 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 Editors' note: About Ariana Resources Ariana 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. A drilling programme is currently focussed on defining gold 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. Ends This information is provided by RNS The company news service from the London Stock Exchange