High Grades from Kepez Prospect
ARIANA RESOURCES plc
13 May 2009
AIM / PLUS Markets: AAU
HIGH GRADES FROM KEPEZ PROSPECT
Ariana Resources plc ("Ariana" or "the Company"), the gold
exploration and development company focused on Turkey, is pleased to
announce the results of a new rock-chip and float sampling programme
at its Kepez gold prospect in Balikesir Province, western Turkey.
Highlights
* Continuous zone of high-grades over sampled area, with an
average of 7.14 g/t Au, and maximum of 41.8
g/t Au
* Sampled area shows grade continuity and covers 90m by 60m
* Sub-surface extensions of the mineralised area to be
tested by drilling
* Potential for a short-term mining operation independent of
Kiziltepe
Dr. Kerim Sener, Managing Director, commented:
"We are very encouraged by the latest results from the Kepez
prospect. Earlier surface exploration had shown the potential for a
small near surface resource at this location, which we felt deserved
revisiting following the commencement of trial mining operations at
the nearby Kiziltepe prospect.
"The latest sampling has confirmed the potential for high grades
within the mineralised zone and we will now drill the area to
determine the size of the in-situ resource. We believe that Kepez
has the potential to yield a small high-grade resource amenable to
trucking and processing off site."
Details of Programme
The Company has completed further surface sampling at the Kepez
Prospect (located 6.5km to the ENE of Kiziltepe), where previous
sampling yielded high grades along a 100m portion of the Karakaya
Vein (Figure 1). This part of the vein shows evidence of previous
mining activity and earlier drilling had encountered voids which
probably correspond to old workings. Ariana is currently
re-evaluating this area for the purposes of identifying the potential
for a low-cost mining operation focused on near surface high grade
material.
In March 2009, a field team from Ariana's subsidiary, Galata
Madencilik San. ve Tic. Ltd. Sti, undertook a comprehensive float and
rock-chip sampling programme over an area covering the Karakaya Vein.
This sampling programme was designed to confirm the distribution of
near surface mineralisation over the central portion of the vein from
which earlier channel samples, which were taken across and partly
down-dip of the vein, had reported good grades (as first announced on
2nd February 2006).
Sampling was undertaken on a grid consisting of eight north-south
trending lines of 100m length and 10m spacing. Samples were taken
every 10m along the lines and at each sample location randomly
selected outcrop or float samples were collected as composites from a
circular area with 5m radius around the sample point. This ensured
that the 8,000m² area was comprehensively sampled with minimum bias.
High grades were obtained, especially towards the southerly extent of
the sampling grid. The maximum grades reported by the composite
rock-chip and float samples in this area were 26.5 and 41.8 g/t Au
respectively. The high grades recorded from the southern part of the
grid demonstrate grade continuity in this direction.
While drilling in 2007 demonstrated that high grades are not
maintained at depth, the current sampling suggests that significant
mineralisation exists in the top 50m of the vein. This area will be
tested by several short drill holes to prove the sub-surface extent
of this shallow mineralisation and to enable an estimate of the
resource to be made.
Sampling and Assaying Procedures
The Kepez programme consisted of the collection of 80 composite float
and rock-chip samples of quartz vein material. The composite
rock-chip samples were collected from in-situ rock from the vein
outcrops. The composite float samples (a) included both weathered
material and/or mined rejects; (b) represent scree which has moved
downhill; and (c) were obtained from a blanket of broken rock which
is not more than a few metres thick.
Of the rock-chip samples none returned grades less than 0.25 g/t Au
(0% of the total); 3 samples assayed between 0.25-1 g/t Au (10% of
total), 9 between 1-5 g/t Au (30% of total) and 18 samples above 5
g/t Au (60% of total), with a peak grade of 26.5 g/t Au. Of the
float samples, 4 returned grades of less than 0.25 g/t Au (8% of the
total), 3 samples between 0.25-1 g/t Au (6% of total), 17 between 1-5
g/t Au (34% of total) and 26 samples above 5 g/t Au (52% of total),
with a peak grade of 41.8 g/t Au. The average (arithmetic means) of
the gold grades were respectively 7.08 g/t Au and 7.17 g/t Au for the
rock-chip and float samples.
All samples were 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 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. Every sample was photographed
and analysed using a hand-held XRF instrument prior to assay at ALS
Chemex.
Contacts:
Ariana Resources plc Tel: 020 7407 3616
Michael Spriggs, Chairman
Kerim Sener, Managing Director
Beaumont Cornish Limited Tel: 020 7628 3396
Roland Cornish
Lothbury Financial Tel: 020 7011 9411
Michael Padley / Libby Moss
Alexander David Securities Limited Tel: 020 7448 9820
Nick Bealer / David Scott
Loeb Aron & Company Ltd Tel: 020 7628 1128
Peter Freeman / Frank Lucas
Editors' note:
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.
About the Kepez Prospect
The Kepez prospect is located within the same 36km² ten-year
renewable operating licence that hosts the Company's Kiziltepe
prospect, which forms part of the Company's 100% owned Sindirgi gold
project in Balikesir Province, western Turkey. Kepez lies 6.5km away
from the current trial production area in the Kiziltepe Prospect.
Ariana is currently assessing the potential of Kepez to yield a
small high-grade resource amenable to open-pit mining.
The prospect contains 3km of gold-silver bearing low-sulphidation
epithermal quartz veins across an area of at least 2km by 0.5km.
Individual veins are exposed for up to 600m and widths vary between
2m and 25m. The main veins trend N and NE, and are hosted either
within Lower Miocene dacitic volcanic rocks or on the boundary
between these rocks and underlying Upper Cretaceous ophiolitic
sedimentary rocks. Three main vein systems have been defined by
geological mapping, rock-saw channel and rock-chip sampling, the most
important of which is the Karakaya Vein.
Existing drilling on the Karakaya Vein shows that it dips between 40
degrees and 50 degrees to the west and is developed along the contact
between underlying ophiolitic rocks and overlying dacitic volcanic
rocks. The Karakaya Vein was sampled during a rock-saw channel
sampling programme conducted along the vein outcrop in 2006. Surface
results on the Karakaya vein have been encouraging over 100m of
strike, from which high grades have been encountered, although
previous follow-up drilling of the down-dip extensions have tended to
encounter lower grades.
About Ariana Resources
Ariana is an exploration and development company focused on
epithermal gold-silver and porphyry copper-gold deposits in Turkey.
The Company is exploring a portfolio of prospective licences selected
on the basis of its in-house geological and remote-sensing database,
on its own in western Turkey and in Joint Venture with European
Goldfields Limited in north-eastern Turkey.
The Company's flagship assets are its Sindirgi and Tavsan gold
projects. Both projects contain a series of prospects, within two
prolific mineralised districts in the Western Anatolian Volcanic and
Extensional (WAVE) Province in western Turkey. This Province hosts
the largest operating gold mines in Turkey and remains highly
prospective for new porphyry and epithermal deposits. These core
projects, which are separated by a distance of 75km, are presently
being assessed as to their economic merits. The total resource
inventory of the Company stands at 401,000 ounces of gold
equivalent.
Loeb Aron & Company Ltd. and Alexander David Securities Limited are
joint brokers to the Company and Beaumont Cornish Limited is the
Company's Nominated Adviser.
For further information on Ariana and an illustrated version of this
announcement you are invited to visit the Company's website at
www.arianaresources.com.
Ends
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