Ariana Resources PLC
22 August 2005
22 August 2005
AIM: AAU
SCOPING STUDY COMMENCES AT KIZILTEPE GOLD PROSPECT
Ariana Resources plc ('Ariana' or 'the Company') the gold exploration company
focussed exclusively on Turkey, announces the commencement of a scoping study to
evaluate potential open pit gold resources at the Company's 100% owned Kiziltepe
gold prospect ('Kiziltepe').
* Kiziltepe hosts over 19km in strike length of gold-silver bearing veins
* Intersections of up to 10.5 g/t over 7.5m reported from previous drilling
* Detailed 1:500 scale geological mapping of the vein system is now complete
Work by previous operators included mapping, soil sampling, rock-chipping and
3,425m of diamond drilling from 26 holes. Independent technical consultants SRK
have prepared a geological model of 150,000 ounces (not a resource as defined by
the JORC code) on approximately 5% of the known vein system, based on an average
grade of 4.2 g/t to an approximate depth of 150m.
Two teams will undertake rock saw channel sampling to enable a mineral resource
estimate to be completed according to the JORC Code. The field programme will be
supervised by Dr Kerim Sener, Ariana's Exploration Director. Preliminary
metallurgical test work will also be undertaken. In addition the Company has
engaged the services of Sandercock & Associates Pty. Ltd ('Sandercock') of
Australia, to provide technical input to the scoping study. Sandercock has
substantial experience on comparable vein hosted gold-silver deposits.
Steven Poulton, Chief Executive, commented:
'Kiziltepe represents a major gold-silver bearing system in a region with
excellent local infrastructure. To date only limited drilling has been
undertaken and encouraging grades have been reported. The scoping study is the
first step in advancing Kiziltepe and is designed to establish the potential for
a number of small scale open pit operations, capable of hosting an initial
aggregate resource of 250,000 ounces'.
Ariana Resources plc
Steven Poulton, Chief Executive Tel: 01235 511 767
info@arianaresources.com Mobile: 0797 408 6712
--------------------------
Bankside Consultants
Michael Padley / Susan Scott Tel: 020 7367 8888
Editors' note:
About Kiziltepe
Kiziltepe 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 100km east of the one
million ounce vein-hosted Ovacik gold mine and 115km northwest of the five
million ounce Kisladag gold deposit.
Over 19km in strike length of gold-silver bearing low-sulphidation epithermal
quartz veins have been mapped across an area of approximately 3km by 1km.
Individual veins are exposed for up to 700m and widths vary between 1m and 14m.
The main veins trend NW, dip to the northeast and are hosted within Miocene age
andesitic volcanic rocks.
Selected previous drill intersections on the 'Arzu South' vein, are as follows:
Hole Vein From (m) To (m) Length (m) Grade Au (g/t) Grade Ag (g/t)
KT01 Arzu 51.95 63.00 11.05 3.72 52.30
South
KT02 Arzu 63.40 67.20 3.80 9.38 115.47
South
KT03 Arzu 76.30 86.40 10.10 7.23 80.70
South
KT06 Arzu 35.40 49.50 14.10 3.85 20.08
South
RSC6 Arzu 28.00 34.00 6.00 10.23 76.75
South
RSC8 Arzu 45.00 52.50 7.50 10.55 125.93
South
Ariana acquired the Sindirgi gold project and accompanying historical data from
Newmont Altin Madencilik Limited Sirketi, a subsidiary of Newmont Mining
Corporation (NYSE & ASX: NEM; TSX: NMC) ('Newmont'), in January 2005. Newmont
retain a royalty of up to 2.5% on future production.
Mike Etheridge, BSc (Hons), PhD, is a non-executive director of the Company and
is a Fellow of the Australian Institute of Geoscientists. He has over 30 years
experience in geological research and mineral consultancy and served as a
Director of SRK Global from 1978-2001 and as Chairman (SRK Australasia) from
1998-2004. He is a Competent Person with respect to the technical disclosure in
this regulatory announcement, which he has read and approved.
About Ariana
Ariana is a technology-driven exploration company focussed 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 highly prospective licences covering over 1,000km2, selected on the
basis of its advanced in-house remote sensing database. Ariana's nominated
broker is Ambrian Partners Limited and Beaumont Cornish Limited are nominated
advisor.
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
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