ARIANA LAUNCHES NOT-FOR-PROFIT INITIATIVE

RNS Number : 5349C

Ariana Resources PLC

20 October 2020

 

 

20 October 2020

AIM: AAU

ARIANA LAUNCHES NOT-FOR-PROFIT INITIATIVE

Ariana Resources plc ("Ariana" or "the Company"), the AIM-listed exploration and development company operating in Europe, is pleased to announce the launch of a not-for-profit initiative which it will roll out across its areas of operation.

Highlights:

·     Not-for-profit initiative launched to support education and sustainability projects benefitting the communities in which the Company operates.

· Initiative to be spearheaded by the supply of Company-branded sustainably sourced organic cotton apparel via the Teemill platform: https://ariana-resources.teemill.com/ .

· Fully sustainable and circular business model is at the forefront of the clothing industry and fits well with Ariana's own strong environmentally- and socially-aware ethos.

·     All profits from sales will be channelled into the Company's existing community projects.

Dr. Kerim Sener, Managing Director of Ariana Resources, commented:

"Following the surprisingly strong demand from shareholders for Ariana-branded attire, the Company recognised the opportunities that this creates for developing a not-for-profit initiative without detracting from our core operational priorities.

"Ariana has long been committed to the integrity of its projects and the well-being of its employees, stakeholders and the local communities in which we operate.  We have a track record of investing in our local communities through employment, education, healthcare and environmental schemes. Our new Teemill store now allows us to produce sustainable clothing on demand.

"We are also aware that many of our shareholders desire the Ariana-branded polo shirts already worn by our staff. We are pleased to announce that these will also be available separately thanks to Design Shack ( https://www.design-shack.co.uk ) who are kindly producing the polo shirts to support our charity initiative. Further details on these will be provided via the Company's Twitter page in due course."

Contacts:

Ariana Resources plc	Tel: [phone]
Michael de Villiers, Chairman
Kerim Sener, Managing Director
Beaumont Cornish Limited	Tel: [phone]
Roland Cornish / Felicity Geidt
Panmure Gordon (UK) Limited	Tel: [phone]
John Prior / Hugh Rich / Atholl Tweedie
Yellow Jersey PR Limited	Tel: [phone]
Dom Barretto / Joe Burgess / Henry Wilkinson	[e-mail]

Editors' Note:

About Ariana Resources:

Ariana is an AIM-listed mineral exploration and development company operating in Europe.  It has interests in gold production in Turkey and copper-gold assets in Cyprus.  The Company is developing a portfolio of prospective licences in Turkey, which contain a depleted total of c. 2.1 million ounces of gold and other metals (as at July 2020). 

The Red Rabbit Project is comprised of the Company's flagship assets, the Kiziltepe and Tavsan gold projects, and is part of a 50:50 Joint Venture with Proccea Construction Co.  Both assets are located in western Turkey, which hosts some of the largest operating gold mines in the country and remains highly prospective for new porphyry and epithermal deposits.  The Kiziltepe Sector of the Red Rabbit Project is fully permitted and is currently in production.  The total depleted resource inventory at the Project and its wider area is c. 500,000 ounces of gold equivalent (as at April 2020).  At Kiziltepe a Net Smelter Return ("NSR") royalty of up to 2.5% on production is payable to Franco-Nevada Corporation. At Tavsan an NSR royalty of up to 2% on future production is payable to Sandstorm Gold.

The 100% owned Salinbas Gold Project is located in north-eastern Turkey and has a total resource inventory of c. 1.5 million ounces of gold.  The project comprises three notable licence areas: Salinbas, Ardala and Hizarliyayla, all of which are located within a multi-million ounce Artvin Goldfield.  The "Hot Gold Corridor" contains several significant gold-copper projects including the 4 million ounce Hot Maden project, which lies 16km to the south of Salinbas and 7km south of Hizarliyayla.  A NSR royalty of up to 2% on future production is payable to Eldorado Gold Corporation on the Salinbas Gold Project.

Ariana is also earning-in to 50% of UK-registered Venus Minerals Ltd ("Venus") and has to date earned into an entitlement to c. 12%.  Venus is focused on the exploration and development of copper-gold assets in Cyprus.

Panmure Gordon (UK) Limited is broker to the Company and Beaumont Cornish Limited is the Company's Nominated Adviser and Broker.

For further information on Ariana you are invited to visit the Company's website at www.arianaresources.com .

Ends.

 

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