Ariana Resources releases fresh Salinbas drilling results

The AIM-traded firm owns 23.5% of the project, which is operated in partnership with Zenit Madencilik, Proccea Construction and Ozaltin Holding.

It said the Hizarliyayla drilling programme, launched last December, completed 6,005.8 metres of drilling, comprising ten diamond drill holes.

Notable high-grade intercepts from the programme include HZR006, which revealed a one-metre interval with 2.8 grams of gold per tonne and 5.26 grams of silver per tonne from a depth of 72.5 metres.

Additionally, HZR003 yielded a 3.4-metre interval with 1.08 grams of gold and 7.11 grams of silver per tonne from 202 metres, while HZR003 featured a two-metre interval with 1.17 grams of gold and 52.03 grams of silver per tonne, 2.76% zinc and 0.23% copper, from 333 metres.

HZR001 provided a 4.9-metre interval with 2.85% zinc, 0.96% lead and 30.17 grams of silver per tonne from 158.5 metres.

Additionally, HZR003 contributed a 1.3-metre interval with 0.75% copper from 49 metres.

In addition to the high-grade intercepts, longer, lower-grade intercepts were also noted, such as HZR003 with a 24.4-metre interval at 0.34 grams of gold and 2.88 grams of silver per tonne from 182.3 metres, HZR002 with a 36.4-metre interval at 0.17 grams of gold and 1.18 grams of silver per tonne from 186.3 metres, and HZR002 with a 29.2-metre interval at 0.12 grams of gold and 1.61 grams of silver per tonne from 293.3 metres.

To date, Ariana said it had received 4,503 assay results.

There were still 2,467 samples pending assay and multi-element analysis at the Kiziltepe Mine Laboratory (KML).

“Six months on from our announcement of the discovery of a substantial intermediate-sulphidation precious and base-metal-rich epithermal system at Hizarliyayla, we are very pleased to announce further positive drilling results from the extended drilling programme,” said managing director Dr Kerim Sener.

“We were able to yield typically better gold and silver grades than our discovery drill holes, and this work represents the culmination of a concerted effort to understand the operative mineral system across the broader Salinbas Project area.

“We recognise that Hizarliyayla represents a zone of mineralisation and alteration which lies on a potential extension of the Hot Maden system, separated by about eight kilometres and developed along similar structures.”

Dr Sener said the gold and silver grades encountered in all drilling to date typically improved with increasing depth, suggesting that a precious-metal dominant zone lay somewhere beyond 250 to 500 metres below the surface.

“Geological, geochemical, and geophysical data obtained from Hizarliyayla to date suggests that there are several similarities to the mineralisation encountered at Hot Maden.

“Furthermore, the spacing of mineralisation centres along the NNE-trending corridor encompassing Hot Maden, Hizarliyayla and Salinbas/Ardala is an intriguing feature of the geology and reinforces the high prospectivity of this region.

“Hizarliyayla appears to be located at the heart of this corridor and the drilling results continue to demonstrate a widely dispersed alteration system containing abundant zones of mineralisation.”

The company’s goal now was to identify whether the system had a more highly mineralised core, Dr Sener explained.

“We are presently underway with an induced polarisation/resistivity geophysical survey at Hizarliyayla, which has been designed for maximum depth resolution.

“The survey will aid the definition of deep drilling targets ahead of a future drilling programme, which we will aim to conduct in 2024.”

Dr Kerim Sener said initial results from the geophysical survey were encouraging, having established a significant meridional chargability anomaly across the first three lines of the programme.

“This matches our geological understanding of the prospect and reinforces the potential of the area to host a well-developed mineral system.

“The geophysical survey is currently on hold due to winter weather conditions and will recommence in spring 2024.

“We look forward to communicating further drilling results at Hizarliyayla in 2024.”

At 1128 GMT, shares in Ariana Resources were up 9.45% at 2.41p.

Reporting by Josh White for Sharecast.com.