Ariana Resources plc , an AIM-listed exploration and development company operating in Europe, is pleased to announce an update of its JORC compliant Mineral Resource Estimate for the Kizilcukur Project.
Kizilcukur is 100% owned by Ariana through its subsidiary Galata Madencilik San. ve Tic. Ltd. in Turkey.
Highlights:
- Global Mineral Resource Estimate is revised to c. 21,100 oz gold (Au) and 0.62 Moz silver (Ag) contained metal on three main veins.
- Significant improvement in resource category and grade, with 85% of the tonnage in Measured and Indicated (M+I) categories: 218,317 t @ 2.72 g/t Au and 77.04 g/t Ag.
- 46% of the M+I tonnage is located within the higher-grade Zeki Main Vein, with a grade of 3.62 g/t Au and 82.54 g/t Ag, upon which trial mining operations have commenced.
- Company is considering options to develop this satellite deposit as a source of ore for the Kiziltepe processing plant.
Dr. Kerim Sener, Managing Director, commented:
“This is a significant improvement over the previous resource estimate, which integrates the latest drilling data and geological modelling. Most of the resource now sits within the lower risk Measured and Indicated categories, in comparison to the previous estimate which contained only Indicated and Inferred Resources. This is largely the result of the in-fill diamond drilling that was completed on the higher-grade Zeki Vein in early 2019.
“While the initial plans for the Project comprise development across up to three shallow open pits, there is further exploration potential which has been defined in deeper drilling on the Zeki Vein and along strike of the other veins. However, further work would need to be completed before this potential is better understood. No further drilling is planned on the Project until full-scale mining operations are able to be established.
“In the meantime, we intend to continue with trial mining at the site and to commence an initial bulk processing trial at the Kiziltepe processing plant when operational conditions permit.”