Ariana Resources expects first production from Turkey gold mine in Q4

Gold miner Ariana Resources said it was expecting the first production from its joint venture project in Turkey with Proccea Construction in the final quarter of the year.

At the Kiziltepe mine within the Red Rabbit gold-silver project in western Turkey, the company said mining of the Arzu South vein has started and stockpiling of material is underway.

Process piping and electrical work is to be completed by late October to early November and the commissioning process is now underway, starting with the process plant.

Automation circuits and programmes at the mine are to be operational during late stage commissioning with open-pit development by mining contractors fully underway, with mining and stockpiling of low-grade ore in progress ahead of commissioning.

About 95% of the tailings dam landscaping is complete, with the dam wall and concrete drainage channel under construction.

Final commissioning and the first gold pour were expected late in the final quarter of 2016.

Managing director Dr. Kerim Sener, said: “The joint venture is also developing a staged pit design that will optimise the cash-flow and overall resource recovery from the Arzu South pit.

“Work on the process plant area is now nearing completion and the only significant remaining hurdle before we can commence gold-silver production is the completion of the tailings dam, which is expected during the final quarter of 2016."

Shares in Ariana Resources were down 2.78% to 1.75p at 1425 BST.