Geophysical Results
17 September 2008
AIM / PLUS Markets: AAU
ARIANA RESOURCES plc
GEOPHYSICAL RESULTS: KIZILTEPE
Ariana Resources plc ("Ariana" or "the Company"), the gold
exploration and development company focused on Turkey, is pleased to
announce the results of a geophysical programme conducted on the
Kiziltepe Gold Prospect. The programme has been successful in
defining several new exploration targets and has identified a number
of probable vein systems that are not exposed at surface.
Highlights:
* Several high-resistivity anomalies (potential vein systems)
identified at depth or beneath cover
* Large high-chargeability anomaly (potential disseminated sulphide
mineralisation) identified in the southwest part of the prospect
* Geophysical data to aid in the design of a new drilling programme
Dr. Kerim Sener, Managing Director, commented:
"The results of this geophysical programme, which was carried out
following an earlier successful trial on the Arzu vein, have
highlighted even further potential upside on the Kiziltepe prospect.
Although their presence was long suspected, there is now clear
physical evidence of likely buried vein systems at the prospect. The
20km of veins we have identified at surface now appear to be part of
a broader interlinked system of structures at depth.
"We are very excited by these results and are convinced that further
exploration, in particular drilling, will yield further discoveries.
We are entering a new phase of exploration at Kiziltepe and our scope
for identifying further resources has increased substantially."
Geophysical Programme
The geophysical programme described here was undertaken over a 2km2
area covering the main Kiziltepe vein field and included all of the
veins contained by the existing resource estimate. The programme
follows the successful trial, earlier in the year, of the geophysical
method over the Arzu South vein.
Data was collected from nine northeast-southwest oriented Induced
Polarisation (IP) / resistivity profiles, which were spaced 175-240m
apart and designed to coincide directly with existing geochemical
data lines (total length surveyed is approx. 11km). A pole-dipole
array was used with a 30m electrode spacing, using a Scintrex TSQ-3
transmitter and a IPR-12 receiver operating in the time domain.
Several high chargeability and high resistivity anomalies were
identified in the two-dimensional inversion models, which are
interpreted to coincide with zones containing vein systems and their
related alteration. Zones with resistivities greater than 300 Ohm.m
and chargeabilities greater than 15mV/V were identified as explicit
anomalies, while 100-300 Ohm.m and 10-15 mV/V ranges were identified
as possible anomalies.
In plan, the distribution of both high resistivity and chargeability
anomalies is broadly coincident across two distinct regions; one in
the Arzu North to Arzu South area, in the northeast, and the other in
the Banu and Vein 7 area in the southwest. In detail, several linear
resistivity anomalies are identifiable in plan which do not coincide
with known veins and may represent new vein systems at depth.
The anomalies in the Arzu South to Arzu North area are interesting
because they identify a steeply dipping structure (interpreted to
represent the Arzu vein system) and a new moderately dipping
structure beneath ignimbrite cover (Figure 1). Both steeply and
moderately dipping anomalies show typical resistivities in the range
of 300-700 Ohm.m. The moderately dipping feature is a high-priority
drilling target as it may represent a different style of vein-type
mineralisation controlled by stratigraphy.
The anomalies in the Banu and Vein 7 area identify several parallel
resistivity features, not all of which correspond to known veins, and
the chargeability anomaly is consistently wide and unbroken across
the profiles and in the range of 15-30 mV/V (Figure 1). The latter
feature suggests an abundance of disseminated sulphide
mineralisation, which is atypical of the known mineralisation at the
Kiziltepe prospect, and is more typical of porphyry alteration
systems. The feature is an obvious drilling target.
Further interpretation of the geophysical data in parallel with
geological and geochemical datasets will be undertaken prior to
planning a new drilling programme. Expert advice may be sought
during the interpretation of this data to ensure the programme
designed is robust. The current drilling programme has been put on
hold until this new interpretation is completed.
Please see the link at the end of this announcement for figure 1
showing an inverse model resistivity (top) and chargeability (bottom)
profiles on Line 7 viewed looking to the southeast. The left-hand
side of the sections correspond to the continuation of the Arzu
structure beneath ignimbrite cover and identify a moderately dipping
anomaly at a depth of 50-100m below surface. The high chargeability
anomaly containing several steeply dipping resistivity features on
the right-hand side is an obvious drilling target.
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:
Dr Kerim Sener, BSc (Hons), MSc, PhD, is the Managing Director of
Ariana Resources plc. 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 Australia.
He has read and approved the technical disclosure in this regulatory
announcement.
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.
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.
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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