25 November 2008
AIM / PLUS Markets: AAU
PERMITTING AT KIZILTEPE COMPLETED
Ariana Resources plc ("Ariana" or "the Company"), the gold
exploration company
focused on Turkey, is pleased to announce the receipt of its final
operational permits
for the Kiziltepe prospect, in Balikesir Province, western Turkey.
Dr. Kerim Sener, Managing Director, commented:
"The receipt of our final permits at Kiziltepe represents a
significant milestone in the
development of the project. These permits provide us with the
freedom to plan
effectively for additional trial mining at this location, and will
allow us to scale up operations quickly.
"We are in discussions with several parties on the future development
of the Kiziltepe
project. The Company is aiming to define the most value-added route
for the project in
the short to medium term."
Permit Status
The Kiziltepe project is now fully permitted for formal mining
operations to commence.
The permits currently held at the project include:
* Mining Permit: This permit provides permission to mine and covers
the entire Kiziltepe vein field.
* Environmental Permit: This ensures the project meets certain
environmental requirements and covers the Arzu South, Arzu North
and Banu veins.
* Forestry Permits: These are required only in forested parts of
the project area for which access was sought primarily for
drilling purposes. A larger forestry permit covers the Arzu
North vein in which trial mining has already commenced.
* Health and Safety Permit: This ensures the Company complies with
certain health and safety regulations, and the permit covers the
entire project area.
* Blasting Permit: This provides permission to use explosives
during mining. This covers the entire project area but in
practice is currently limited to an area on the Arzu South vein.
The Company has also secured certain surface rights which were
announced on 18 July 2007.
Mining Status
The Company now holds a stockpile of approximately 2,000 tonnes of
ore from the
Arzu North vein which was mined in accordance with Turkish mining law
by mechanical
methods prior to receipt of the blasting permit. Approximately 25
tonnes of this ore was
sent for trial processing at a treatment facility elsewhere in
Turkey, from which very
good recoveries of between 82.3% and 89.7% gold were achieved. The
Company is
presently preparing a mining plan to extract 5,000 tonnes of ore from
the Arzu South
vein by mechanical methods, assisted by blasting where appropriate.
The intention is
that this ore will be utilised for further trial processing in due
course.
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 / Louise Davis
Loeb Aron & Company Ltd Tel: 020 7628 1128
Peter Freeman / Frank Lucas
Alexander David Securities Limited Tel: 020 7448 9820
Nick Bealer / David Scott
Editors' note:
About the Kiziltepe Prospect
The Kiziltepe prospect is located within a ten-year renewable
operating licence that
forms part of the Company's 100% owned Sindirgi gold project in
Balikesir Province,
western Turkey. The current JORC resource of 186,000 ounces gold
equivalent is
located on the Arzu South, Arzu North, Banu and Derya veins.
Kiziltepe lies approximately 100km east of the one million ounce
vein-hosted Ovacik
gold mine and 115km northwest of the five million ounce Kisladag gold
mine. The
prospect hosts over 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
northwest, dip to the northeast and are hosted within Miocene age
dacitic volcanic rocks.
Ariana acquired the Sindirgi Gold Project from Newmont Mining
Corporation (NYSE
& ASX: NEM; TSX: NMC) in March 2005. Franco-Nevada Corporation
retains the right to
a royalty of up to 2.5% on future gold production from the Sindirgi
gold project.
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 you are invited to visit the
Company's website at
www.arianaresources.com.
Ends
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