Ariana Resources posts first results from Arzu South drilling

Turkey-focused gold exploration and development company Ariana Resources announced further results for its Phase One drilling programme of 2016 on Wednesday.

The AIM-traded firm completed the drilling programme during early September at the Kiziltepe Project.

Kiziltepe is part of the Red Rabbit Joint Venture with Proccea Construction, and will be 50% owned by Ariana once mine construction is completed in Q416.

The board reported 645 meters of reverse circulation drilling for seven holes was completed on the southeast end of Arzu South, to drill-test the southern end of the Arzu South vein to within 15m of surface and targeting the southern extents of the recently discovered Arzu South Parallel vein trend.

The best intercepts from the southern end of Arzu South included 5m at 6.9g/t gold and 138.5g/t silver, 7m at 4.0g/t gold and 23.9g/t silver, and 2m at 4.1g/t gold and 35.4g/t silver.

Intercepts testing the ASP vein returned with anomalous grades including 1m at 3.7g/t gold and 9.7g/t silver, 1m at 1.7g/t gold and 85.1g/t silver, and 1m at 0.5g/t gold and 30.5g/t silver.

“Although the drilling at the southern end of Arzu South comprised only seven holes, we are especially encouraged to have determined the continuity of high-grade and near-surface mineralisation at the very end of the Arzu South vein,” said Ariana managing director Dr Kerim Sener.

“The current in-pit resource does not encompass this mineralisation, suggesting that the pit will capture additional ounces which have the potential to form part of the final reserve.”

Sener said that the drilling also confirmed the continuity of the ASP vein trend right through to the southern end of Arzu South.

“It appears that the southern end of the ASP trend disperses into wider zones of sub-economic stockwork mineralisation than at the northern end of Arzu South.

“Despite this, new work at the far southern end of Arzu South, demonstrates that the main vein structure jogs to the east and continues for perhaps a further 200m - this section of the vein system, referred to as Arzu Far South, remains completely untested by drilling and will now form part of the Phase Two programme.”