Ariana Resources PLC
21 September 2005
21 September 2005
AIM: AAU
EXPLORATION UPDATE ON EASTERN TURKEY
Ariana Resources plc ('Ariana' or 'the Company'), the gold exploration company
focused exclusively on Turkey, announces the commencement of initial
reconnaissance exploration across its portfolio of licences in the Van Province
of Eastern Turkey.
* Exploration focused on several targets across 127km2 of licences in
Eastern Turkey
* Region considered prospective for epithermal gold and porphyry copper-gold
deposits
* Remote sensing programme continuing with new licence applications
anticipated
The initial reconnaissance programme consists of mapping, stream-sediment and
rock-chip sampling on several remote-sensing targets, which are up to 2km long
and 1km wide, in order to prioritise areas for more detailed follow-up
exploration.
The generative exploration programme is continuing with the analysis of
additional satellite-data (ASTER) scenes covering eastern and north eastern
Turkey being completed by NPA Group of the UK. Results from this programme are
being integrated into the Company's proprietary in-house GIS data platform in
order to generate further targets. Licence applications will be made on those
targets which exhibit characteristics of large and potentially mineralised
hydrothermal systems.
Steven Poulton, Chief Executive, commented:
'Eastern Turkey represents a new and prospective exploration frontier for the
discovery of world-class epithermal gold and porphyry copper-gold deposits. With
first mover advantage, Ariana has established a significant land holding over a
number of prospective remote-sensing anomalies.
'Ariana continues to make progress, with the recently announced scoping study at
the Kiziltepe prospect and targets being defined for new licence applications in
the East of Turkey. Additionally, preparations are being made to commence
exploration at Kinik, one of many prospects within the Company's portfolio of
over 1,000 km2 of prospective licence areas.'
Contacts:
Ariana Resources plc
Steven Poulton, Chief Executive Tel: 01235 511 767
s.j.poulton@arianaresources.com Mobile: 0797 408 6712
Bankside Consultants
Michael Padley / Susan Scott Tel: 020 7367 8888
Editors' Note:
About Eastern Turkey
The Van region of Eastern Turkey has seen sustained economic growth in recent
years and is very supportive of inward investment. The terrain of the Van
Province is mountainous but with generally good road access. There is little
vegetation and snow cover is typical from November through to April.
The geology of north eastern and eastern Turkey is dominated by the Pontide
metallogenic belt and the western extension of the Zagros metallogenic belt
(ZMB) respectively. Both belts form part of the larger Tethyan metallogenic
belt, which is considered prospective for epithermal gold, porphyry-related
copper/gold and Carlin-style gold deposits.
The ZMB hosts a number of significant deposits including, in neighbouring Iran,
the 2.8 million ounce Zarshuran sediment-hosted gold deposit and the Sar Cheshme
copper porphyry deposit.
About Ariana
Ariana is a technology-driven exploration company focused on the discovery of
multi-million ounce potential epithermal gold-silver and porphyry copper-gold
deposits within the Tethyan metallogenic belt of Turkey. The Company has a
portfolio of prospective licences covering over 1,000km2, selected on the basis
of its advanced in-house remote sensing database. Ariana's nominated broker is
Ambrian Partners Limited and Beaumont Cornish Limited is nominated adviser.
Mike Etheridge, BSc (Hons), PhD, is a non-executive director of the Company and
is a Fellow of the Australian Institute of Geoscientists. He has over 30 years'
experience in geological research and mineral consultancy and served as a
Director of SRK Global from 1978-2001 and as Chairman (SRK Australasia) from
1998-2004. He is a Competent Person with respect to the technical disclosure in
this regulatory announcement, which he has read and approved.
For further information on Ariana you are invited to visit the Company's website
at www.arianaresources.com.
Ends
This information is provided by RNS
The company news service from the London Stock Exchange
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