Vein 4 1st Drilling Results

Ariana Resources PLC 08 February 2007 8 February 2007 AIM: AAU FIRST DRILLING RESULTS FROM VEIN 4, KIZILTEPE PROSPECT Ariana Resources plc ('Ariana' or 'the Company'), the gold exploration company focused on Turkey, announces the results from the first three drill holes completed on Vein 4, which is located 800m northwest from the Arzu South and 900m north of the Banu veins at the Kiziltepe gold prospect. This represents the sixth successive set of positive results on different veins within the Kiziltepe project, which is located within the Company's 100%-owned 235km2 Sindirgi gold project in western Turkey. Ariana is continuing to develop a detailed and positive framework for understanding and potentially developing this extensive mineralised system. •Previously untested vein providing intersections of 1.42 g/t Au over 6.0m, 1.26 g/t Au over 7.10m and 1.56 g/t Au over 5.0m •Silver grades in these intersections range from 19 to 49 g/t Ag •First three drill holes completed along 100m of vein strike length •The continuity of grade at surface and at depth indicate that further drilling on this vein is warranted A field team from the Company's Turkish operating subsidiary, Galata Madencilik San. ve Tic. Ltd. Sti., supervised the completion of an initial three-hole HQ size (63.5 mm wide) diamond core drilling programme on Vein 4. The holes D18, D19 and D20 reported in this release totalled 232.80m. They were drilled to depths of between 65 and 93 metres and angled at 60 degrees along a 100m section of vein strike length. Collars were located at approximately 50 metre spaced centres. Quartz veins, other mineralised structures and stock work were located in all three holes drilled in this exploratory programme. Selected intersections are given in Table 1 below. Kerim Sener, Exploration Director, commented: 'The results of this drilling confirm the validity of our strategy to test all previously undrilled veins at the Kiziltepe prospect. While the grade of mineralisation at Vein 4 is low, the vein widths are significant and there is sufficient geological evidence to conclude that these initial intercepts are positioned high in the epithermal system. We predict that this vein is one of the least eroded veins on the Kiziltepe prospect and that deeper drilling on this vein will yield better grades. Further drilling at this location is scheduled for later this year.' Table 1: Drill hole intersection data from the Vein 4 drilling programme: Hole From To (m) Recovery Apparent Gold (Au Silver Au + Ag (m) (%) Width (m) g/t) (Ag g/t) equiv. (g /t) KTP-D18-06 38.0 44.0 97 6.0 1.42 34.60 2.11 KTP-D19-06 44.3 51.4 91 7.1 1.26 48.96 2.24 KTP-D20-06 61.8 66.8 94 5.0 1.56 19.46 1.95 Notes: No top cut has been applied to assay results Intersections based on a 0.5 g/t cut off grade Weighted averages have been calculated for core recovery and gold/silver grades Au + Ag equiv. g/t is the sum of the gold grade and the gold equivalent grade of silver based on a gold/silver price ratio of approximately 1:50 Vein 4 In 2006, Vein 4 (strike length 615m) was tested at surface by rock-saw channel sampling for 325m of strike. The average grade of gold from this sampling was 0.73 g/t Au with a best grade of 8.56 g/t Au, proving that the mineralisation within the vein achieves significant concentrations in places. The vein is located only 200m south of the Arzu North multiple-parallel vein system, which has shown potential at surface from rock-saw channel sampling conducted in 2006. Surface vein textures are characteristic of deposition at shallow crustal levels, showing development of massive chalcedonic to opaline quartz and rarely show textures indicative of boiling. This is unusual in comparison to other veins at the Kiziltepe prospect, which are typically eroded to deeper levels to expose the boiling level of the epithermal system (boiling is a critical factor in gold deposition). These data indicate collectively that Vein 4 is one of the least eroded and therefore most well-preserved vein systems within the Kiziltepe prospect. The drilling programme was designed to test the down-dip potential of the vein system and to identify continuity of the grades encountered at surface. The results of the drilling programme demonstrate that the vein carries fairly consistent grades of about 1-2 g/t Au at shallow depths, mirroring the grades determined by surface sampling. Follow-up drilling to locate the boiling level within the system and to test the possibility of grade improvement at this level is deemed essential. 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 Beaumont Cornish Limited Roland Cornish Tel: 020 7628 3396 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 235km2 Sindirgi gold project in Balikesir Province, western Turkey. 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 19km 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 700m 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. Newmont retains the right to a royalty of up to 2.5% on future gold production from the Sindirgi gold project. Ahead of commencing the drilling programme, Galata obtained all necessary environmental and forestry approvals from the provincial government in Balikesir and the State Government in Ankara. Sampling and Assaying Procedures To date 94 HQ size drill-core samples from the drilling programme on the Hale vein, ranging from 0.18m to 1.17m in length have been cut in half by a diamond saw and sent for assay. Of these, 64 samples have returned grades of less than 0.5 g/t Au (68% of the total), 14 samples between 0.5-1 g/t Au (15% of total) and 16 between 1-5 g/t Au (17% of total), with a peak grade of 4.18g/t Au. Sample recovery has averaged 94% in the mineralised zones. All samples have been 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 (no samples) and 100 g/t Ag (1 sample) has also been completed by ALS Chemex. Standard, blank and duplicate samples are being used in the sample batches in line with the Company's quality control procedures. Quality control checks have determined that all blanks and standards have passed and duplicate samples have shown excellent correlations with 99.9% correlation for crushed duplicates and 99.8% correlation for pulp duplicates. Laboratory sample preparation, assaying procedures and chain of custody are appropriately controlled. The Company maintains an archive of half core samples and a photographic record of all cores for future reference. 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 dynamic exploration company focused on the discovery of epithermal gold-silver and porphyry copper-gold deposits with multi-million ounce potential within the Tethyan metallogenic belt of Turkey. The Company has a portfolio of prospective licences covering 1,755km2, selected on the basis of its advanced in-house remote sensing database. The Company's flagship asset is the 235km2 Sindirgi gold project, which targets a series of prospects, within a prolific mineralised district in western Turkey. The project hosts over 45km of gold-silver bearing epithermal quartz veins. A two rig drilling programme is currently focussed on defining gold resources (in compliance with the JORC code) at the prospects of Kiziltepe and Kepez. Ambrian Partners Limited and King & Shaxson Capital 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 This information is provided by RNS The company news service from the London Stock Exchange
UK 100

Latest directors dealings