Ariana Resources plc : Excellent drilling results at Salinbas and Ardala,
18 February 2013
EXCELLENT DRILLING RESULTS AT SALINBAS AND ARDALA
Ariana Resources plc ("Ariana" or "the Company"), the gold exploration and
development company focused on Turkey, is pleased to announce the results of
its winter drilling programme at Salinbas and Ardala ("Salinbas/Ardala" or
"the Project"), which is contained within its Joint Venture with Eldorado Gold
Corporation ("Eldorado") in north-eastern Turkey.
*New drilling has identified additional mineralisation on the eastern
margins of Salinbas within a corridor trending away from the Ardala
*Best intercepts from drilling in the Salinbas area include 31.10m @
1.38g/t Au, 17.90m @ 2.09 g/t Au and 9.20m @ 2.25 g/t Au. Many
mineralised intercepts were obtained from less than 100m below surface.
*Best intercepts from drilling in the Ardala area include 81.5m @ 1.28 g/t
Au + 10.5 g/t Ag, 34.5m @ 2.21 g/t Au + 10.7 g/t Ag and 18.2m @ 2.20 g/t
Au + 25.6 g/t Ag. This area also shows an increase in base-metal content
towards the Ardala porphyry.
*In-fill drilling within the Salinbas area will allow for refinements to
the geological model and will enable the Company to calculate a mineral
*Development of the Project is being conducted in a JV funded exclusively
by Eldorado - US$1.77 million committed by Eldorado in the 2012-2013
Dr. Kerim Sener, Managing Director, commented:
"These latest results from the Salinbas and Ardala prospects further highlight
the potential of this underexplored region of Turkey - an area where we
continue to utilise our exploration expertise and regional knowledge to
identify new potentially multi-million ounce deposits.
"The results reinforce our understanding of the geological potential of the
area and suggest that the Salinbas Au-Ag system is related to the Ardala
porphyry Au-Cu-Mo system, with gold and silver grades generally increasing
towards Salinbas and base-metal grades increasing towards Ardala. The latest
drilling in the area between Salinbas and Ardala indicate the continuity of
mineralisation occurring within a 1.5km long zone which trends towards the
porphyry, suggesting a genetic link and representing an area of significant
future resource upside. This concept will be further investigated during
drilling in 2013 as we remain focused on compiling an initial mineral resource
estimate for the Project and continue to advance it up the value curve"
The 2012 Salinbas/Ardala programme was designed to achieve two primary
The first objective was to complete in-fill drilling, where possible, within
the current extents of previous drilling, so that the geological model could
be refined and an initial resource estimate could be established. This part
of the programme was completed by a drill-rig (Sandvik DE130) owned and
operated by the Company. Fifteen holes were drilled in this area totalling
1338.2 metres, and were drilled to depths of between 50 and 106 metres, all
angled vertically. Collar spacing between new and old holes in this area was
narrowed where possible to approximately 25 metres apart. Previous drilling
results from this area included 9.5m @ 6.48 g/t Au + 39.4 g/t Ag, 11.3m @ 4.98
g/t Au + 42.8 g/t Ag and 25m @ 3.34 g/t Au + 7.9 g/t Ag.
The secondary objective for the programme was to conduct exploration drilling
between Salinbas and the Ardala porphyry to the southeast. Two angled holes
were drilled in this region, totalling 405 metres. Highly encouraging results
from these holes have confirmed the need for further exploration in this zone
and suggest the continuity of mineralisation from the Ardala porphyry in the
valley floor to the Salinbas system on the ridge - representing a vertical
distance of 675m and a horizontal distance of close to 2km. Linking these two
areas will be an important objective for future drilling programmes, though
the current drilling has confirmed the presence of mineralisation near the
mid-point between Salinbas and Ardala.
This drilling progamme commenced in October 2012 and continued until December
2012 for a total of 1,743.2 metres. This was less than planned partly due to
the difficulty of drilling conditions encountered in the area between Salinbas
and Ardala and also due to snowfall, which initially hampered and eventually
halted operations for the season. It is expected that the remaining drill
holes within the total programme of 4,000 metres will be completed from April
2013 onwards. The emphasis of this drilling will be to further explore the
corridor of mineralisation between Salinbas and Ardala.
Table 1: New drilling results for the Salinbas prospect (SALH numbered holes)
and Ardala (ARD numbered holes). Results reported for intercepts >0.1g/t Au,
a 2 metre minimum interval width and up to 10 metres of waste material
allowed. SALH068 showed low recovery (53%) but ended in mineralisation.
ARD009 also showed low recovery (68%) and did not reach the target depth. *
Ardala hole intercepts include Cu in the range of 0.12-0.60%, Pb in the range
0.20-1.05% and Zn in the range 0.31-0.90%.
Drillhole ID From (m) To (m) Intercept (m) Grade Au (g/t) Grade Ag (g/t)
SALH060 23.00 41.00 18.00 0.45 2.1
SALH061 39.00 57.00 18.00 0.20 0.5
SALH062 16.90 48.00 31.10 1.38 2.6
including 20.80 38.70 17.90 2.09 3.9
SALH063 18.50 46.90 28.40 0.42 4.4
including 29 40.5 11.50 0.69 6.4
SALH064 51.00 56.00 5.00 0.50 3.8
96.00 100.00 4.00 0.48 4.4
SALH065 66.90 90.00 23.10 0.40 1.5
including 71.00 78.80 7.80 0.93 2.7
SALH066 52.50 66.00 13.50 0.27 1.8
SALH067 79.00 87.00 8.00 0.31 16.4
SALH068 96.80 106.00 9.20 2.26 17.2
SALH069 25.20 35.00 9.80 0.18 1.1
SALH070 59.00 64.00 5.00 0.21 4.0
SALH071 58.00 92.80 34.80 0.35 8.1
including 58.00 66.00 8.00 1.01 13.2
83.30 87.00 3.70 0.52 24.3
SALH072 5.50 10.00 4.50 0.47 1.1
SALH073A 0.00 31.00 31.00 0.21 1.6
including 0.00 11.00 11.00 0.38 3.9
SALH074B 0.00 4.00 4.00 2.05 5.9
40.80 71.00 30.20 0.32 9.3
ARD008A* 114.00 195.50 81.5 1.28 10.5
including 122.00 134.50 12.5 1.66 19.2
156.50 191.00 34.5 2.21 10.7
ARD009* 136.80 155 18.2 2.20 25.6
Figure 1: Plan of the Salinbas/Ardala zone of mineralisation based on drilling
completed to date. The boundaries of the zone of mineralisation are based in
part on the current geological model and also from results of drilling in the
corridor between Salinbas and Ardala.
Sampling and Assaying Procedures
NQ size drill-core samples from the drilling programme on Salinbas and mainly
HQ size drill-core samples from Ardala were cut in half by a diamond saw and
sent for assay. Sample recovery averaged 78% in the mineralised zones (with a
high of 95% and a low of 36%) due to weak ground conditions coinciding with
many of these zones. Approximately half of the intercepts provided recoveries
in excess of 85% and are considered acceptable for resource estimation
All the samples have been prepared and analysed at the ALS Chemex preparation
facility in Izmir via 30g fire assay and for trace-element analysis.
Standard, blank and duplicate samples have been used in the sample batches
and quality control checks have determined that these have passed. Laboratory
sample preparation, assaying procedures and chain of custody are appropriately
controlled. The Company maintains an archive of half core samples and a
photographic record of all cores for future reference.
Ariana Resources plc Tel: +44 (0) 20 7407 3616
Michael Spriggs, Chairman
Kerim Sener, Managing Director
Beaumont Cornish Limited Tel: +44 (0) 20 7628 3396
Roland Cornish / Felicity Geidt
S.P. Angel Corporate Finance LLP Tel: +44 (0) 20 3463 2260
Ewan Leggat / Laura Littley
St Brides Media & Finance Ltd Tel: +44 (0) 20 7236 1177
Susie Geliher / Lottie Brocklehurst
Dr Kerim Sener, BSc (Hons), MSc, PhD, is the Managing Director of Ariana
Resources plc. A graduate of the University of Southampton in Geology, he
also holds a Master's degree from the Royal School of Mines (Imperial College,
London) in Mineral Exploration and a doctorate from the University of Western
Australia. He is a Fellow of The Geological Society of London and has worked
in geological research and mineral consultancy in Eastern Europe, Southern
Africa and Australia. He has read and approved the technical disclosure in
this regulatory announcement.
About Ariana Resources:
Ariana is an exploration and development company focused on epithermal
gold-silver and porphyry copper-gold deposits in Turkey. The Company is
developing a portfolio of prospective licences selected on the basis of its
in-house geological and remote-sensing database, on its own in western Turkey
and in Joint Venture with Eldorado Gold Corporation in north-eastern Turkey.
Eldorado owns 51% of this joint venture and is fully funding all exploration
work on the JV properties, while Ariana owns 49% and is the operator.
The Company's flagship assets are its Sindirgi and Tavsan gold projects which
form the Red Rabbit Gold Project. Both contain a series of prospects, within
two prolific mineralised districts in the Western Anatolian Volcanic and
Extensional (WAVE) Province in western Turkey. This Province hosts the
largest operating gold mines in Turkey and remains highly prospective for new
porphyry and epithermal deposits. These core projects, which are separated by
a distance of 75km, are presently being assessed as to their economic merits
and now form part of a Joint Venture with Proccea Construction Co. The total
resource inventory of the Company stands at 448,000 ounces of gold equivalent.
Ariana also has a strategic investment in Tigris Resources Limited
(www.tigrisresources.com), a private Jersey-based exploration company, which
is focused on the exploration of copper and gold deposits in southeastern
Turkey. Ariana retains 11.5% of Tigris Resources Limited.
S.P. Angel Corporate Finance LLP are brokers to the Company and Beaumont
Cornish Limited is the Company's Nominated Adviser.
For further information on Ariana you are invited to visit the Company's
website at www.arianaresources.com.
PDF: Excellent drilling results at Salinbas and Ardala, Turkey
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Source: Ariana Resources plc via Thomson Reuters ONE
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