Ariana Resources plc, an exploration and development company operating in Turkey, announces a positive update for the Tavsan Project ("Tavsan" or "the Project"). Tavsan is part of the Red Rabbit Joint Venture ("JV") with Proccea Construction Co. and is 50% owned by Ariana through its shareholding in Zenit Madencilik San. ve Tic. A.S. ("Zenit").
Rock-chip samples collected from a new discovery 5km north of the current Tavsan resource area, included the following results:
3.59 g/t Au + 8.1 g/t Ag
2.13 g/t Au + 5.0 g/t Ag
1.65 g/t Au + 4.7 g/t Ag
Drilling results from this discovery zone provided initial intercepts including 4m @ 1.46g/t Au + 3.8g/t Ag + 0.45% Cu almost from surface.
Advanced process metallurgical testwork, including column-leach and agglomeration tests, underway and nearing completion.
Geotechnical and hydrological drilling, preliminary site plan and process flow-sheets are completed.
Environmental Impact Assessment (“EIA”) considerably advanced and reaching completion.
Rock-saw channel sampling programme for the purposes of supporting a resource upgrade are due to commence from late September 2019.
Dr. Kerim Sener, Managing Director, commented:
“Our exploration team has remained highly active across the Company’s portfolio and we are particularly pleased to announce the latest results from the Tavsan Project. The latest discovery shows that there is significant potential for the project to yield additional resources. Furthermore, work on the Feasibility and EIA is continuing successfully and we are looking forward to completing these studies in the coming months. Drilling undertaken for the purposes of the EIA earlier this year has been completed, although certain resource drilling was postponed and will instead be replaced by a rock-saw channel programme over the primary resource areas, commencing in late September. We are very encouraged by new discoveries of mineralisation outside of the initial mine plan, as these indicate that there is further scope to grow the Tavsan Project.”