Drilling to Commence
Ariana Resources PLC
05 September 2007
5 September 2007
AIM / PLUS Markets: AAU
ARIANA RESOURCES plc
DRILLING TO COMMENCE AT KIZILTEPE PROSPECT
Ariana Resources plc ('Ariana' or 'the Company'), the gold exploration company
focused on Turkey, is pleased to announce the commencement of a 6,000m Reverse
Circulation drilling programme at its three advanced projects in western Turkey.
The Kiziltepe prospect, within the Company's 100% owned Sindirgi gold project,
will be the primary focus of this drilling programme.
• Phase Two resource definition drilling at Kiziltepe to commence next
week
• Objective to upgrade and increase the existing 135,000 oz gold-silver
resource
• Drill-rig mobilised and drilling commenced at the Ivrindi Project (Kinik
prospect)
Dr. Kerim Sener, Managing Director, commented:
'The additional drilling on our advanced projects and particularly at the
Kiziltepe prospect is an important advance for the Company. The drilling at
Kiziltepe is designed to add resources from several veins that are not included
in the existing resource, and to upgrade the resource at Arzu South.'
'Our decision to focus on the Kiziltepe prospect is based on the encouraging,
though small, initial resource defined by our 2006 drilling programme which
identified 135,000 oz gold equivalent on only 5% of the veins at the prospect.
Positive metallurgical results received in August have further enhanced our
confidence in the economic potential of the prospect.'
'Approximately 4,000m of drilling will be focussed on veins in proximity to Arzu
South, with the principal objectives of increasing the resource, and of
providing the basis for a scoping study of the economics of a small, multi-pit
operation at Kiziltepe.'
About the Kiziltepe Prospect
The Kiziltepe prospect lies within a 36 km2 ten-year renewable operating licence
which forms part of the Company's 100% owned 235 km2 Sindirgi gold project in
Balikesir Province, western Turkey. The project area lies approximately 100km
east of the one million ounce Ovacik gold mine and 115km northwest of the five
million ounce Kisladag gold mine.
Kiziltepe hosts at least 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 750m and widths vary between 1m and 14m.
The main veins trend NW, dip to the northeast and are hosted within Miocene age
dacitic volcanic rocks. The majority of exploration work to date at Kiziltepe
has focused on the Arzu vein system, which represents approximately 5% of the
mapped veins on the prospect. Previous intersections on Arzu include 7.5 g/t Au
over 10.5m and 13.1 g/t Au over 6.6m.
Independent technical consultants SRK (UK) Limited have prepared a
JORC-compliant mineral resource estimate of 135,000 ounces gold equivalent on
the Arzu vein, based on cut-off grade of 3 g/t Au and a modelled depth limit of
approximately 125m (see News Release dated 10/05/06). The calculated grade of
the mineralisation on Arzu is about 6 g/t of gold and 2 g/t of gold equivalent
of silver.
Ariana acquired the Kiziltepe prospect as part of the Sindirgi Gold Project from
Newmont Altin Madencilik Limited Sirketi, a subsidiary of Newmont Mining
Corporation (NYSE & ASX: NEM; TSX: NMC) ('Newmont') in January 2005. Newmont
retains a Net Smelter Return royalty of up to 2.5% on future gold production
from the Sindirgi Project.
Drilling Programme
Approximately 40 drill holes are planned at the Kiziltepe prospect to depths of
up to 200m. The programme has been designed to test systematically seven
gold-silver bearing epithermal quartz veins, namely, Arzu South, Arzu North,
Arzu Far North, Ceylan, Banu, Vein 2 and Vein 4. The objective of the current
programme is to upgrade the initial JORC resource (135,000 oz gold equivalent)
for the Arzu vein system and to demonstrate the resource potential on other
veins.
The drilling program will be managed by Ariana's exploration team under the
supervision of Mr. Muhannad Arar (Advanced Projects Manager). Drilling on the
Kiziltepe prospect is expected to be completed by November 2007, although some
flexibility has been built in to the programme to allow for rapid follow-up.
Sampling and Assaying Procedures
The samples will be transported to the Company's storage facility in the local
town of Sindirgi. Split samples are prepared and sent to the ALS Chemex
preparation facility in Izmir and assayed by 30g fire assay at the ALS Chemex
laboratory in Romania. Standard, blank and duplicate samples were used in the
sample batches in line with the Company's quality control procedures.
Contacts:
Ariana Resources plc
Michael Spriggs, Chairman
Kerim Sener, Managing Director Tel: 0207 407 3616
Beaumont Cornish Limited
Roland Cornish Tel: 0207 628 3396
Bankside Consultants
Michael Padley / Louise Davis Tel: 0207 367 8888
Editors' note:
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 covering 1,820km2, selected on the basis of
its advanced in-house remote sensing database.
The Company's flagship asset is the 235km2 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
This information is provided by RNS
The company news service from the London Stock Exchange