Ariana Resources (AIM: AAU)

The mineral exploration and development company with gold mining interests in Europe, announced positive results from an IP/Resistivity geophysical survey conducted by the company at the Kiziltepe Project located in Turkey.

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Ariana Resources	AIM: AAU
Stage	Production, development, exploration
Metals	Gold, copper
Market cap	£35 million @2.973p
Location	Turkey, Cyprus, Kosovo

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RNS Number : 6355Q

Ariana Resources PLC

22 February 2023

22 February 2023

AIM: AAU

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GEOPHYSICAL SURVEY RESULTS AT KIZILTEPE

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Ariana Resources plc (AIM: AAU) (“Ariana” or “the Company”), the AIM-listed mineral exploration and development company with gold mining interests in Europe, is pleased to announce positive results from an IP/Resistivity geophysical survey conducted by the company at the Kiziltepe Project (“Kiziltepe” or “the Project”).

Kiziltepe is operated via Zenit Madencilik San. ve Tic. A.S. (“Zenit”) in partnership with Proccea Construction Co. and Ozaltin Holding A.S. and is 23.5% owned by Ariana.

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Highlights:

— Completion of a comprehensive geophysical survey programme across the Sindirgi Gold Corridor in late 2022.

— Positive results obtained from the Kiziltepe Induced Polarization (IP)/Resistivity survey confirm the presence of extensions to several mined vein systems.

— Confirmation of new near surface drill targets are defined at the far northwest extensions of Arzu North and Arzu South and towards the southeast of the mined vein systems.

— Targets defined in this survey are being integrated into a revision of our JORC Exploration Target, which will define priorities for future exploration and resource drilling.

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Dr. Kerim Sener, Managing Director, commented:

“Several geophysical programmes were conducted at Kiziltepe and nearby prospects during the later part of 2022.

 

“We are very pleased to report the results from the programme completed at Kiziltepe itself, which was designed to test near-mine zones of vein mineralisation. It may become subject to future drill-testing, as we go about building on the potential for resource extensions.

 

“We are pleased to note that several pronounced geophysical anomalies exist along strike of previously mapped and drilled veins, suggesting the potential for further discoveries, particularly in the southeast part of the prospect.

 

“This signals a new area to us which has not previously received much attention from drilling in the past. Beyond the area covered in the survey outlined here, work was also undertaken at Kepez and at Kizilcukur, the results of which will become the subject of future announcements.”

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To read the full news release, please click HERE

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