Exploration Update
Ariana Resources PLC
30 March 2006
ARIANA RESOURCES plc
30 March 2006
AIM: AAU
EXPLORATION UPDATE
Ariana Resources plc ('Ariana' or 'the Company'), the gold exploration company
focused exclusively on Turkey, announces that sampling at its Kiziltepe prospect
is providing further confidence in the presence of a potentially significant
gold deposit. An update on the generative exploration programme is included with
these results, via which a number of additional opportunities have been
identified.
Highlights:
•4.59 g/t Au from reconnaissance sampling on 900m by 300m soil anomaly
•2.90 g/t Au over 10.5m from channel sampling on Hale Vein
•1.63 g/t Au over 13.4m from channel sampling on Arzu North Vein
•Generative exploration accelerated - 72,000km2 covered in systematic
exploration
Soil Anomaly, Kiziltepe Prospect
Subsequent to the Company's announcement on 10th January 2006 of the presence of
a 900m by 300m (>100ppb contour) gold in soil anomaly, a field team from
Ariana's Turkish operating subsidiary, Galata Madencilik San. ve Tic. Ltd. Sti.
('Galata') has undertaken initial reconnaissance rock chip sampling within the
area. Six rock chip samples have been taken, with a best result of 4.59 g/t Au.
Based on these results and on the mapping of additional vein and stockwork
targets, Ariana will undertake a systematic rock chip and channel sample
programme across the entire area to test the potential for a large, low grade
and bulk tonnage gold deposit, including higher grade vein sections.
Hale Vein, Kiziltepe Prospect
Galata's field team has also undertaken trenching on Hale Vein, and collected
111 samples from channels, approximately 250m south west of the Arzu North Vein.
The channels (up to 18.5m in length) were spaced at approximately 20m intervals
along a strike length of 134m. All six channels intersected gold mineralisation.
Channel 11 returned the best intersect of 2.90 g/t Au over 10.5m (with a peak
grade of 8.56 g/t Au) close to an area showing evidence of historical mining.
The programme is ongoing. Channel samples have been taken at regular 1m
intervals and cut using a diamond saw.
Arzu North Vein, Kiziltepe Prospect
An eighth channel completed on the Arzu North Vein has returned 1.63 g/t Au over
13.4m. Channel eight is located 15m north west of the channels announced by the
Company on 10th January 2006. All eight channels sampled to date have
intersected gold mineralisation. These results extend to 250m in length the main
mineralised zone, which remains open in all directions within a series of
parallel quartz veins, stockwork material and andesite host rock.
Generative Exploration
Ariana is applying a systematic and rapid exploration strategy in Turkey to
generate and turnover targets selected on the basis of its remote sensing
programme.
The Company provides the following update since August 2005:
- 23 licences have been explored (approx. 46,000 ha)
- 7 licences have been relinquished (approx. 14,000 ha)
- 3 licences have advanced to phase 2, including the Kinik gold
prospect (approx. 6,000 ha)
- Over 72,000km2 has been analysed by ASTER remote-sensing
- Over 80 new targets have been designated for future licence
application
- 2 dedicated generative exploration field teams of Turkish geologists
have been established
Steven Poulton, Chief Executive, commented:
'Results from sampling at Kiziltepe continue to demonstrate the presence of a
major gold mineralised system, with both high grade vein and bulk tonnage
stockwork targets. Ariana is systematically testing the prospect area to define
its economic potential.
'Furthermore, with our team of eight field geologists in place, and a strategy
of rapidly and cost effectively advancing exploration on several prospects
simultaneously, we expect our results to lead to a number of new and exciting
discoveries over the coming months'.
Contacts:
Ariana Resources plc
Steven Poulton, Chief Executive Tel: 01235 511 767
s.j.poulton@arianaresources.cominfo@arianaresources.com Mobile: 0797 408 6712
Bankside Consultants
Michael Padley / Susan Scott Tel: 020 7367 8888
Editors note:
About the Sindirgi Gold Project
The Sindirgi gold project covers an area of 224 km2 in Balikesir Province,
western Turkey. To date at least five target areas have been defined by Ariana,
which include the prospects of Kiziltepe, Kepez, Karaduz, Kavakliduz and
Kizilcukur. Previous operators have defined over 40km of low sulphidation quartz
veins on the project. 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.
Sampling and Assaying Procedures
The Hale Vein and Arzu North Vein programmes consisted of the collection of 151
composite rock-chip samples of 1m in length. Of these, 90 samples returned
grades of less than 0.5 g/t Au (60% of the total), 26 samples between 0.5-1 g/t
Au (17% of total), 32 between 1-5 g/t Au (21% of total) and 3 samples assayed
above 5 g/t Au (2% of total), with a peak grade of 8.56 g/t Au.
All samples have been prepared by the ALS Chemex preparation facility in Izmir
and assayed by fire assay at the ALS Chemex laboratory in Vancouver. Re-assaying
of all samples assaying greater than 10 g/t gold has also been completed by ALS
Chemex. Regular standard and blank samples are being used in the sample sequence
in line with the Company's quality control procedures.
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 approximately 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.
Ariana will be present at the T1PS / Master Investor show (booth 11) at the
Business Design Centre in London on Saturday, April 1st.
Ends
This information is provided by RNS
The company news service from the London Stock Exchange