Drilling and Results Update
19 December 2007
AIM / PLUS Markets: AAU
DRILLING AND RESULTS UPDATE
Ariana Resources plc ("Ariana" or "the Company"), the gold
exploration company focused on Turkey, announces additional results
from 14 Reverse Circulation (RC) drill holes completed on the Arzu
South Vein, at the Kiziltepe gold prospect. This provides
supplementary information to an announcement made earlier this month
and includes silver grades and unreported gold intersections.
Highlights
* New intersections include 10m at 6.3 g/t Au equiv. and 5m @ 20.1
g/t Au equiv.
* Peak grades over 1m intervals include 43.8 g/t Au and 1070 g/t Ag
* 2,500m of additional drilling to commence next week
Details of Programme
This release reports additional assay data for the 14 RC drill holes
reported on the 3rd December. The holes reported in that release
totalled 1,298m and were drilled to depths of between 60 and 135
metres along a 650m section of vein strike length. The new assay
data has been added to the original data table and the updated
intersections are given in Table 1 below. Three new mineralised
intersections have been added to the original table, the most notable
of which is 10m at 6.3 g/t Au equivalent.
A further programme of 2,500 m of drilling, devised in conjunction
with our consultants, SRK, is now scheduled to commence on the 25th
December 2007. This additional drilling will target the top 50m of
the current resource and is designed to drill-out the veins to 20m
lateral and vertical spacing. This spacing is designed to enable
estimation of a JORC-compliant resource in the Measured and Indicated
categories throughout the upper 75m of the vein system. This depth
will account for the mineralisation most likely to be accepted by an
open pit model and provide the geological control required in the
uppermost zone of the resource.
Dr. Kerim Sener, Managing Director, commented:
"These results build upon and confirm the positive results announced
earlier this month.
"The additional drilling due to commence next week will help to
determine the resource potential of the near surface mineralisation
at the Arzu Vein. We also intend to determine the optimal mining and
processing route for this relatively high-grade resource, which, due
to its proximity to surface, could be mined by open pit.
"We expect to complete the drill programme in early 2008 and to
revise the resource estimate in the second quarter."
Table 1: RC drill hole intersections from the Arzu South Vein, with
new data in bold text.
+--------------------------------------------------------------------------------+
| | | | From | To | Apparent | Gold | Silver |Au + Au |
| Hole | Easting | Northing | (m) | (m) |Width (m) | (Au |(Ag g/t) | equiv. |
| | | | | | | g/t) | | (g/t) |
|--------------------------------------------------------------------------------|
| NORTHERN SECTION |
|--------------------------------------------------------------------------------|
|RC01-07 | 607767 | 4348842 | 61 | 62 | 1.00 | 1.81 | 44.30 | 2.70 |
|---------+---------+----------+------+-----+----------+------+---------+--------|
|And | | | 66 | 69 | 3.00 | 2.09 | 64.63 | 3.38 |
|---------+---------+----------+------+-----+----------+------+---------+--------|
|And | | | 71 | 76 | 5.00 | 2.27 | 85.56 | 3.98 |
|--------------------------------------------------------------------------------|
| MIDDLE SECTION |
|--------------------------------------------------------------------------------|
|RC02-07 | 607950 | 4348624 | 27 | 30 | 3 | 6.15 | 83.43 | 7.82 |
|---------+---------+----------+------+-----+----------+------+---------+--------|
|RC03-07 | 607990 | 4348582 | 27 | 31 | 4 |10.12 | 131.20 | 12.74 |
|---------+---------+----------+------+-----+----------+------+---------+--------|
|And | | | 35 | 39 | 4 | 1.16 | 14.98 | 1.46 |
|---------+---------+----------+------+-----+----------+------+---------+--------|
|And | | | 40 | 41 | 1 | 4.19 | 39.50 | 4.98 |
|---------+---------+----------+------+-----+----------+------+---------+--------|
|And | | | 43 | 44 | 1 | 2.07 | 28.3 | 2.64 |
|---------+---------+----------+------+-----+----------+------+---------+--------|
|RC11-07 | 608042 | 4348591 | 97 | 98 | 1 | 0.99 | 1.90 | 1.03 |
|---------+---------+----------+------+-----+----------+------+---------+--------|
|And | | | 101 | 104 | 3 | 0.86 | 24.27 | 1.35 |
|---------+---------+----------+------+-----+----------+------+---------+--------|
|And | | | 110 | 114 | 4 | 1.48 | 53.30 | 2.54 |
|---------+---------+----------+------+-----+----------+------+---------+--------|
|RC12-07 | 608033 | 4348538 | 30 | 33 | 3 | 0.98 | 9.67 | 1.18 |
|---------+---------+----------+------+-----+----------+------+---------+--------|
| | | | 55 | 56 | 1 | 1.22 | 45.90 | 2.14 |
|---------+---------+----------+------+-----+----------+------+---------+--------|
| | | | 57 | 67 | 10 | 4.72 | 81.01 | 6.34 |
|--------------------------------------------------------------------------------|
| SOUTHERN SECTION |
|--------------------------------------------------------------------------------|
|RC04-07 | 608048 | 4348506 | 52 | 55 | 3 | 2.61 | 87.33 | 4.36 |
|---------+---------+----------+------+-----+----------+------+---------+--------|
|And | | | 72 | 75 | 3 | 1.65 | 56.70 | 2.79 |
|---------+---------+----------+------+-----+----------+------+---------+--------|
|RC05-07 | 608036 | 4348463 | 58 | 64 | 6 | 6.62 | 167.97 | 9.98 |
|---------+---------+----------+------+-----+----------+------+---------+--------|
|RC06-07 | 608045 | 4348405 | 44 | 49 | 5 |13.62 | 322.06 | 20.06 |
|---------+---------+----------+-------------------------------------------------|
|RC07-07 | 608062 | 4348352 |No significant result |
|---------+---------+----------+-------------------------------------------------|
|RC08-07 | 608048 | 4348308 | 33 | 34 | 1 | 2.45 | 6.00 | 2.57 |
|---------+---------+----------+------+-----+----------+------+---------+--------|
|RC13-07 | 608069 | 4348488 | 93 | 97 | 4 | 1.41 | 73.73 | 2.89 |
|---------+---------+----------+------+-----+----------+------+---------+--------|
|RC14-07 | 608087 | 4348404 | 92 | 95 | 3 | 1.28 | 20.87 | 1.69 |
|---------+---------+----------+------+-----+----------+------+---------+--------|
|RC15-07 | 608088 | 4348375 | 80 | 83 | 3 | 2.05 | 5.17 | 2.15 |
|---------+---------+----------+------+-----+----------+------+---------+--------|
|And | | | 88 | 94 | 6 | 3.14 | 66.73 | 4.48 |
|---------+---------+----------+-------------------------------------------------|
|RC09-07 | 608044 | 4348278 |No significant result |
|---------+----------------------------------------------------------------------|
|RC10-07 |Cancelled |
|--------------------------------------------------------------------------------|
|Notes: |
|No top cut has been applied to assay results |
|Intersections based on a 0.5 g/t cut off grade |
|Weighted averages have been calculated for core recovery and gold/silver grades |
|Au + Au equiv. g/t is the sum of the gold grade and the gold equivalent grade of|
|silver based on a gold/silver price ratio of approximately 1:50 |
+--------------------------------------------------------------------------------+
Sampling and Assaying Procedures
To date 316 RC chip samples from the drilling programme on the Arzu
Vein were sent for assay. Of these, 220 samples have returned grades
of less than 0.5 g/t Au (70% of the total), 39 samples between 0.5-1
g/t Au (12% of total), 40 between 1-5 g/t Au (13% of total) and 17
samples above 5 g/t Au (5% of total), with the peak grades of 43.8
g/t Au and 1070 g/t Ag. Sample recovery averaged 85% in the
mineralised zones.
All samples have been prepared by the ALS Chemex preparation facility
in Izmir and assayed by 30g fire assay at the ALS Chemex laboratory
in Romania. Routine re-assaying of all samples assaying greater than
10 g/t Au and 100 g/t Ag has also been completed by ALS Chemex.
Standard, blank and duplicate samples are being used in the sample
batches, which is in line with the Company's quality control
procedures. Laboratory sample preparation, assaying procedures and
chain of custody are appropriately controlled. The Company maintains
an archive of RC chip samples and all pulps and sample splits for
future reference.
Contacts:
+-------------------------------------------------------+
| | |
| Ariana Resources plc | Tel: 020 7407 3616 |
|----------------------------------+--------------------|
| Michael Spriggs, Chairman | |
|----------------------------------+--------------------|
| Kerim Sener, Managing Director | |
|----------------------------------+--------------------|
| | |
|----------------------------------+--------------------|
| Beaumont Cornish Limited | Tel: 020 7628 3396 |
|----------------------------------+--------------------|
| Roland Cornish | |
|----------------------------------+--------------------|
| | |
|----------------------------------+--------------------|
| Bankside Consultants | Tel: 020 7367 8888 |
|----------------------------------+--------------------|
| Michael Padley / Louise Davis | |
|----------------------------------+--------------------|
| | |
|----------------------------------+--------------------|
| City Capital Corporation Limited | Tel: 020 7842 5867 |
|----------------------------------+--------------------|
| Charles Dampney | |
|----------------------------------+--------------------|
| | |
|----------------------------------+--------------------|
| King & Shaxson Capital Limited | Tel: 020 7426 5986 |
|----------------------------------+--------------------|
| Nick Bealer | |
+-------------------------------------------------------+
Dr Kerim Sener, BSc (Hons), MSc, PhD, is the Managing Director of
Ariana Resources plc. A graduate of the University of Southampton in
Geology, he also holds a Master's degree from the Royal School of
Mines (Imperial College, London) in Mineral Exploration and a
doctorate from the University of Western Australia. He is a Fellow
of The Geological Society of London and has worked in geological
research and mineral consultancy in Southern Africa and Australia. He
has read and approved the technical disclosure in this regulatory
announcement.
Editors' note:
About the Kiziltepe prospect
The Kiziltepe prospect is located within a ten-year renewable
operating licence that forms part of the Company's 100% owned
Sindirgi gold project in Balikesir Province, western Turkey.
Kiziltepe lies approximately 100km east of the one million ounce
vein-hosted Ovacik gold mine and 115km northwest of the five million
ounce Kisladag gold mine. The prospect hosts over 20km in strike
length of gold-silver bearing low-sulphidation epithermal quartz
veins across an area of at least 3km by 1km. Individual veins are
exposed for up to 700m and widths vary between 1m and 14m. The main
veins trend northwest, dip to the northeast and are hosted within
Miocene age dacitic volcanic rocks.
Ariana acquired the Sindirgi Gold Project from Newmont Mining
Corporation (NYSE & ASX: NEM; TSX: NMC) in March 2005. Newmont
retains the right to a royalty of up to 2.5% on future gold
production from the Sindirgi gold project.
Ahead of commencing the drilling programme, Ariana obtained all
necessary environmental and forestry approvals from the provincial
government in Balikesir and the State Government in Ankara.
About Ariana Resources
Ariana is a dynamic exploration company focused on the discovery and
development of epithermal gold-silver and porphyry copper-gold
deposits with multi-million ounce potential within the Tethyan
metallogenic belt of Turkey. The Company has a portfolio of
prospective licences selected on the basis of its advanced in-house
remote sensing database.
The Company's flagship asset is the Sindirgi Gold Project, which
targets a series of prospects, within a prolific mineralised district
in western Turkey. The project hosts over 45km of gold-silver
bearing epithermal quartz veins.
City Capital Corporation Limited and King & Shaxson Capital Limited
are joint brokers to the Company and Beaumont Cornish Limited is the
Company's nominated adviser.
For further information on Ariana you are invited to visit the
Company's website at www.arianaresources.com.
Ends
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