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10 November 2022

ARIANA RESOURCES REPORT WORK PROGRAMMES ON TURKISH PROJECTS

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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 provide an update on its advanced Turkish projects which are 23.5% owned by Ariana through its shareholding in Zenit Madencilik San. ve Tic. A.S. (“Zenit”).  

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Highlights:

·    Gold production at Kiziltepe continues to perform in line with guidance, while the ongoing drilling programme has now completed over 11,000m of diamond drilling which has continued to test extensions of various vein systems.

·    Geophysical programmes involving electrical and magnetic methods underway across Kiziltepe, Kepez and Kizilcukur, to aid future drill targeting.

·    Construction of a second gold mine at Tavsan is progressing as planned, with earthworks well advanced and site infrastructure works underway.

·    Soil geochemical programme underway across the Tavsan project licences, following the detailed geological mapping programme completed over the summer.

·    Following the identification of further targets during the mapping programme, drilling for up to 4,600m has just commenced to identify potential resource extensions.

·    Drilling at the Salinbas Project remains underway with over 6,300m drilled, and a second drill-rig is due to commence work on-site within the current week as part of a substantially extended programme.

·    Geological mapping and soil sampling underway at the Hizarliyayla Prospect (part of the Salinbas Project) in preparation for a future drilling programme.

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Dr. Kerim Sener, Managing Director, commented:

“We are highly encouraged by the simultaneous and substantial progress being made across all advanced Turkish projects in which we hold an interest through Zenit. 

“Following the restructuring of our Turkish operations, Zenit has since completed over 36,000m of drilling across the projects in the past two years alone, which significantly represents over 40% of the total drilling completed in Turkey by Ariana to date.  Drilling is currently expected to be maintained across all of our advanced projects through 2023, supported by site specific teams established by Zenit.

“Meanwhile, under the supervision of our geophysicist, an Induced Polarisation/Resistivity survey is being completed across the Kiziltepe project area.  A drone magnetic survey has also commenced over the Kizilcukur Project.  These survey results will be utilised to improve drill targeting for potential extensions of mineralisation during future programmes.  These are the first new geophysical programmes conducted by the Company on our Turkish projects since 2014. 

“During the summer, our exploration team completed a programme of geological mapping and sampling across the Tavsan Project in support of the work being conducted by Zenit to continue building on the resource while construction remains underway.  More recently our team has mobilised to the Salinbas Project to commence geological mapping and soil geochemistry across the Hizarliyayla Prospect.  We conclude that this prospect displays signs of high-level alteration and mineralisation which may be related to the same hydrothermal system which gave rise to the >4Moz Hot Maden deposit, located just 7km to the south. 

“We look forward to providing updates on these exploration programmes in Turkey in the months ahead, including resource estimation at Tavsan and drilling results.  We are also aiming to provide updates on the progress of our various investee companies prior to the end of this year.”

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To read the full news release, please click HERE

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