Environmental Impact Assessment Submitted for K...

 

 

30 August 2013
AIM: AAU

EIA SUBMITTED FOR KIZILTEPE

Ariana Resources plc ("Ariana" or "the Company"), the gold exploration and development company focused on Turkey, is pleased to announce that it has submitted its final Environmental Impact Assessment ("EIA") report for the Kiziltepe gold-silver project to the Ministry of Environment and Urban Planning ("MEUP"), via its Joint Venture company in Turkey, Zenit Madencilik San. ve Tic. A.S., ("Zenit").

The Company expects that the MEUP will review the submitted documentation ahead of ministerial approval which is anticipated during Q4 2013.  Once the Company has received its environmental positive certification it will be able to proceed with final permitting for construction, targeted by the end of Q4 2013.  In parallel, the Company and its JV partners are negotiating finance for the construction of the mine and of expected commissioning of the mine, which is currently scheduled for H2 2014.

Michael de Villiers, Chairman, commented:

"The submission of our EIA marks a further crucial step towards Ariana and its partners commencing construction of our initial mine at the Red Rabbit Gold Project, before expected initial commercial production in H2 2014.

"This represents the culmination of our feasibility and EIA work on the Kiziltepe gold-silver project, which has been completed in partnership with Proccea Construction.  We now look forward to receiving positive feedback from the Ministry of Environment and Urban Planning, so that the Company and its partners may proceed to the construction phase of the project.  The project represents an important mining investment in western Turkey that will bring benefits to the community of the Sindirgi area."

**ENDS**

Contacts:

Ariana Resources plc	Tel: [phone]
Michael de Villiers, Chairman
Kerim Sener, Managing Director
Beaumont Cornish Limited	Tel: [phone]
Roland Cornish / Felicity Geidt
Beaufort Securities Limited	Tel: [phone]
Chris Rourke / Guy Wheatley
Loeb Aron & Company Ltd.	Tel: [phone]
Frank Lucas
St Brides Media & Finance Ltd	Tel: [phone]
Susie Geliher / Lottie Brocklehurst

Editors' note:

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 Eldorado Gold Corporation in north-eastern Turkey.  Eldorado owns 51% of this joint venture and is fully funding all exploration work on the JV properties, while Ariana owns 49% and is the operator.

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 south-eastern Turkey.  Ariana retains 11.5% of Tigris Resources Limited.  

Beaufort Securities Limited and Loeb Aron & Company Ltd. 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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Source: Ariana Resources plc via Thomson Reuters ONE

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