New Vein System Discovered at Kiziltepe

17 May 2011 AIM / PLUS Markets: AAU NEW VEIN SYSTEM DISCOVERED AT KIZILTEPE Ariana Resources plc ("Ariana" or "the Company"), the gold exploration and development company focused on Turkey, is pleased to announce positive results for a new surface sampling programme at its Kiziltepe gold deposit in Balikesir Province, western Turkey.  This programme has been successful in confirming the presence of a further gold bearing vein system on the Company's flagship Red Rabbit Gold Project. Highlights: * Continuous high-grades (up to 10.7 g/t Au equiv.) encountered over the newly discovered "Gamze" Vein. * Geophysics suggest that the Gamze and previously discovered Fidan vein systems are connected within the same mineralised structure - combined strike length of 1,800m. * Strong continuity with existing high-grade gold bearing vein systems - potential for expansion of current 448,000 oz Au Eq. JORC resource for Red Rabbit. * Increased resource would further improve economics of planned operation at Kiziltepe - production targeted for 2012. * Further geophysics targets currently being tested by surface sampling and new exploration drilling being planned for the summer. Dr. Kerim Sener, Managing Director, commented: "The recent confirmation of the Gamze Vein reinforces the potential for significant near surface resource upside at the Kiziltepe gold prospect, which is further enhanced by the identification of additional vein systems parallel to the trend of known structures.  A drilling programme is being planned for the summer and it is expected that these additional veins will provide further resource upside for the planned mining operation at Kiziltepe, which we are developing in Joint Venture with our local Turkish partner Proccea Construction Co." Details of Programme The Company has recently completed surface sampling of several geophysics targets at the Kiziltepe deposit.  Ariana has previously highlighted the potential of buried or partially buried vein systems at Kiziltepe, which were noted following geophysics undertaken in 2008 and 2010.  Since then systematic testing of these areas using various methods including float, rock-chip sampling and RC drilling has been conducted. A field team from Ariana's subsidiary, Galata Madencilik San. ve Tic. Ltd. Sti, recently completed a follow-up float and rock-chip sampling programme over an area covering the newly named Gamze Vein (Figure 1).  This programme was designed to confirm the distribution of near surface mineralisation and to determine its relationship to the Fidan Vein, which outcrops to the southeast. This fieldwork helped confirm the presence and extent of these vein targets. At the Gamze Vein, sampling was undertaken, to map the partially buried vein through float sampling and a combination of soil geochemistry and geophysical evidence.  Samples were taken every 20m along strike and, at each sample location, randomly selected float and subcrop samples were collected as composites from a circular area within 10m radius around the sample point.  This ensured that the vein area was comprehensively sampled with minimum bias.  Further along strike to the southeast, at the Fidan Vein, samples were taken exclusively from outcrop, at a sample interval of roughly 10-15m, depending on outcrop location. High grades were obtained on both the Gamze and Fidan veins.  The maximum grades reported were 10.71 and 8.01 g/t Au equivalent respectively.  The continuity of grade identified along the strike length of both veins, totalling 1,800m, make these important targets for future exploration drilling.  Field and geophysics evidence suggest that the Gamze and Fidan vein systems are connected within the same mineralised structure. The similarity of structural trend and the location of the Gamze Vein, relative to Arzu North and South, enhances the probability that the Arzu structure is itself continuous beneath a cap rock unit of rhyodacitic ignimbrite.  The area between Arzu North and South is an important future drilling target, which has been partially tested along the Derya vein extension with success.  This and other targets identified by geophysics will be followed up with further work. Two additional veins have been located parallel to the Gamze and Banu structures, and have recently been sampled in a similar manner; results are pending. Figure 1: Map of the surface sampling completed on the Gamze and Fidan veins. The locations of the designed pits at Arzu South, Arzu North, Banu and Derya are also shown. Sampling and Assaying Procedures The Gamze Vein sampling programme consisted of the collection of 52 composite float and rock-chip samples of quartz vein material.  Due to the lack of visible outcrop, the samples were a composite of subcrop and float material.  However, the linear distribution and density of quartz vein float, combined with the soil geochemical and geophysical evidence, enable these samples to be attributed to a single coherent vein system. Of the 52 samples collected none returned grades less than 0.1 g/t Au equivalent; 21 samples assayed between 0.10-1.0 g/t Au equivalent (40.4% of total), 20 samples between 1.0-2.5 g/t Au (39.5% of total) and 11 samples between 2.5 and 10.7 g/t Au equivalent (21.1% of total), with a peak grade of 10.7 g/t Au equivalent. Due to the prevalence of good outcrop, the Fidan Vein was sampled exclusively by rock-chip sampling.  Of the 41 rock-chip samples collected 3 samples returned grades less than 0.1 g/t Au equivalent (7.3% of the total); 21 samples assayed between 0.10-1.0 g/t Au equivalent (51.2% of total), 12 samples between 1.0-2.5 g/t Au (29.3% of total) and 5 samples between 2.5 and 8.01 g/t Au equivalent (12.2% of total), with a peak grade of 8.01 g/t Au equivalent. 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. Contacts: Ariana Resources plc Tel: +44 (0) 20 7407 3616 Michael Spriggs, Chairman Kerim Sener, Managing Director Beaumont Cornish Limited Tel: +44 (0) 20 7628 3396 Roland Cornish Alexander David Securities Limited Tel: +44 (0) 20 7448 9820 David Scott / Maria Shields Loeb Aron & Company Ltd Tel: +44 (0) 20 7628 1128 Jonathan Willis-Richards / Frank Lucas St Brides Media & Finance Ltd Tel: +44 (0) 20 7236 1177 Hugo de Salis / Susie Geliher 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 Ariana Resources Ariana is an exploration and development company focused on epithermal gold- silver and porphyry copper-gold deposits in Turkey.  The Company is developing 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. European Goldfields owns 51% of this joint venture and, as the operator, is fully funding all exploration work on the JV properties until delivery of a feasibility study. The Company's flagship assets are its Sindirgi and Tavsan gold projects which form the Red Rabbit Gold Project.  Both 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 and now form part of a Joint Venture with Proccea Construction Co.  The total resource inventory of the Company stands at 448,000 ounces of gold equivalent. Ariana also has a strategic investment in Tigris Resources Limited (www.tigrisresources.com), a private Jersey-based exploration company, which is focused on the exploration of copper and gold deposits in southeastern Turkey. Ariana retains 15% of Tigris Resources Limited. 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 you are invited to visit the Company's website at www.arianaresources.com. Glossary of Technical Terms "Au" the chemical symbol for gold; "Au equivalent" sum of the gold grade and the gold equivalent grade of silver utilising a price ratio of 1:55, based on historic gold/silver prices; "float" loose fragments of rock visible on surface, that may represent sub- surface in-situ rock; "g/t" grammes per tonne; "m"      Metres; "outcrop" in-situ rock visible at surface; "oz" Ounces; "rock-chip" sample taken from in-situ rock on surface; "stockwork" a mineral deposit in the form of a branching network of small irregular veins; "subcrop' blocks of rock that are unlikely to have moved far from their original in-situ position; "vein" refers in this case to epithermal, gold-silver bearing quartz veins; Ends This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Ariana Resources plc via Thomson Reuters ONE [HUG#1516372]
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