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Ariana boosts production to 4,866 ounces of gold during the first quarter of 2018

The ramp up at the Kiziltepe joint venture is proceeding well

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Quarterly production of gold at Kiziltepe continues to increase

Ariana Resources plc (LON:AAU) produced 4,866 ounces of gold from its Kiziltepe project in Turkey during the first quarter to March 31, an 8% increase quarter on quarter.

The company expects to produce 20,000 ounces for the full year.

READ: Ariana boosts gold resource at Tavsan

The average head grade to the plant was 3.85 grams per tonne gold.

"The performance of Kiziltepe continues to exceed feasibility expectations and this quarter of production marks a solid start to 2018,” said managing director Kerim Sener. 

“First quarter gold production was 8% higher than the previous quarter, augmented by a 4% increase in gold recovery from the processing plant.  During the current quarter, we are expecting output to increase further based on our 2018 mining schedule and particularly as we start to access higher grade areas of the Arzu South vein.  Consequently, we are confident in delivering positively against our production guidance for 2018."

 

 

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Price: 5.5 GBX

AIM:AAU
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Market Cap: £58.45 m
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