Ariana Subsidiary aquires Slivova Gold Option

Ariana Resources plc (AIM: AAU)

Announced that its 75% held Western Tethyan Resources subsidiary has completed a Heads of Terms with TSX-V listed Avrupa Minerals Ltd. for an Exclusive Option to Earn-in on the Slivova Gold Project in Kosovo.   

.

.

Ariana Resources AIM: AAU
Stage Production, development, exploration
Metals Gold, copper
Market cap £30 million @ 2.6p
Location Turkey, Cyprus, kosovo

 

.

.

Ariana Resources

.

.

.

AIM: AAU

WESTERN TETHYAN ACQUIRES OPTION ON THE SLIVOVA GOLD PROJECT, KOSOVO

.

.

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 that its 75% held Western Tethyan Resources Ltd (“WTR”) subsidiary has completed a Heads of Terms (“HoT”) with TSX-V listed Avrupa Minerals Ltd. (“Avrupa”) for an Exclusive Option to Earn-in on the Slivova Gold Project (“the Project”) in Kosovo.  

.

.

Highlights:

·    Slivova represents a sediment-hosted gold deposit containing NI 43-101 Resources of 640,000t @ 4.8 g/t gold and 14.69 g/t silver for 98,700 ounces gold and 302,000 ounces of silver (Indicated) and several less explored potential satellites.

·    Earn-In Agreement is subject to WTR completing a six-month exclusive due-diligence review of the Project and the parties executing a formal Earn-In Agreement (the “Agreement”) on or before 1 March 2023.

·    Key terms of the Agreement are summarised below, with WTR and Avrupa expected to execute the final Agreement once due-diligence is completed.

.

.

Dr. Kerim Sener, Managing Director, commented:

“This is an excellent development for the growing pipeline of potential production projects within the Ariana stable. 

“These developments are complementary to the focus Western Tethyan is applying to our Strategic Alliance with Newmont Corporation, and further establishes the company as a serious explorer and developer of high-quality mining projects in south-eastern Europe. 

“Ariana itself has a lot of experience developing similar gold projects in nearby Turkey and can leverage these skills and know-how in the advancement of Slivova.  We look forward to working closely with the Kosovo team to demonstrate the potential of Slivova and the wider area.”

.

.

To read the full news release, please click HERE

.

.

=======

 

Global Mining Finance Conferences – devised and produced by industry experts are the must-attend events for miners seeking finance for projects – and for financiers seeking projects to back.

.

.

Global Mining Finance events offer:

  • Fantastic networking opportunities in a friendly and relaxed atmosphere;
  • Speaker programmes with non-duplicated presentations;
  • Expert event moderation and audience question opportunities;
  • Blue-chip keynote speakers on current topics and projects;
  • Free delegate attendance – Lunch and refreshments are included.

.

www.global-mining-finance.com

To present at one of our future events, please email:  andrew@global-mining-finance.com

.

.