Ariana Resources PLC
30 November 2005
30 November 2005
AIM: AAU
EXPLORATION UPDATE
Ariana Resources plc ('Ariana' or 'the Company'), the gold exploration company
focused exclusively on Turkey announces a highly encouraging reconnaissance
sample result from its Kepez prospect, the granting of two new prospective
licences areas in north east Turkey and the commencement of exploration in the
Canakkale province.
* 19.66 g/t Au reconnaissance sample at Kepez prospect
* Two new licences in north east Turkey
* Exploration commences in Canakkale province
Kepez prospect
A single reconnaissance sample taken by Ariana at its 100% owned Kepez prospect,
which is part of the Sindirgi project, in western Turkey has assayed at 19.66 g/
t Au. The sample was collected adjacent to an area of historic workings,
directly down slope from Kepez vein-1, which has been mapped up to 25 metres
wide and 450 metres long. Exploration by previous owners includes a channel
sample of 9.5 g/t Au over 5m. Mapping and channel sampling across Kepez vein-1
is now planned. The Sindirgi project includes the Kiziltepe vein prospect, on
which positive channel sample results were recently announced and exploration is
ongoing.
New Licences
Ariana has been granted two new exploration licences covering an area of 2,834
hectares in the Pontide volcanic arc in Artvin Province, north eastern Turkey.
The licence areas were selected following target definition from the ongoing
analysis of the Company's proprietary in-house GIS data platform, which is
targeting the discovery of bulk tonnage high-sulphidation style gold and
copper-gold systems as well as low-sulphidation vein hosted gold-silver
deposits. The new licences will be the subject of a reconnaissance exploration
programme in 2006.
Reconnaissance exploration
Ariana has also commenced exploration over two 100% owned contiguous licences,
covering an area of 5,672 hectares in Canakkale Province, north western Turkey.
The licences were selected based on the identification of strong anomalies from
the Company's Landsat study.
Steven Poulton, Chief Executive, commented:
'Ariana continues to maintain its very strong momentum, with exploration
underway in several areas and new licences being acquired on priority targets.
The 19.66 g/t Au reconnaissance sample at Kepez reinforces the encouraging
recent channel sampling results at the Kiziltepe prospect and testifies to the
wider potential for the Sindirgi project to host a significant gold system. The
initiation of exploration over new licence areas demonstrates our commitment to
the systematic and rapid turnover of targets generated by our in-house remote
sensing programme.'
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 Kepez
The Kepez prospect is located within a ten-year renewable operating licence that
forms part of the Company's 100% owned 235km2 Sindirgi gold project in Balikesir
Province, western Turkey. The prospect lies approximately 6.5 km north east and
within the same licence as the Company's Kiziltepe prospect. Kepez hosts
approximately 8 km in strike length of gold-silver bearing low-sulphidation
epithermal quartz veins and hydrothermal vein breccia, across an area of at
least 2 km by 1 km. The majority of exploration work to date has focused on
Kepez vein-1, where channel sampling by previous owners include an intersection
of 9.5 g/t over 5m across a silicified zone and a best drill intersect of 6.9 g/
t Au over 4m. Newmont Mining Corporation (NYSE & ASX: NEM; TSX: NMC) retains the
right to a royalty of up to 2.5% on future gold production from the Sindirgi
project.
Dr Kerim Sener, BSc (Hons), MSc, PhD, is Ariana's Exploration Director. 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 the Northern Territory of
Australia. He has read and approved the technical disclosure in this regulatory
announcement.
About Ariana Resources
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 broker is Ambrian
Partners Limited 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
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