logo-loader
viewAriana Resources PLC

Ariana Resources announces JORC exploration target for Salinbas project

The AIM-listed gold explorer said the JORC exploration target had indicated up to 2.7Moz of gold and 16.1Moz of silver

Gold bars
Ariana added that there was potential for further resource extensions

Ariana Resources plc (LON:AAU) has unveiled a Joint Ore Reserves Committee (JORC) exploration target for its Salinbas gold project in Turkey.

The AIM-listed gold explorer said the JORC exploration target had indicated up to 2.7mln ounces (Moz) of gold and 16.1Moz of silver in the Salinbas area, excluding current JORC indicated and inferred resources of around 1Moz of gold.

READ: Ariana Resources reveals high gold recovery tests for Kizilcukur project

Ariana added that there was potential for further resource extensions to be delineated from breccia pipes (shafts of broken rock) that feed into the Salinbas Horizon.

A drilling programme to systematically test the area and determine any potentially additionally JORC resources is “fully planned”, with around 10,000m of exploration drilling to be executed in two phases one forestry permits are secured.

Dr Kerim Sener, managing director of Ariana, said: "Our confidence in the potential for the Salinbas Project to host a multi-million ounce gold system in the area surrounding the Ardala Cu-Au-Mo porphyry has grown significantly during the past year.

He added: “The diligent work undertaken by our exploration team in recent months, involving the meticulous relogging of over 50 drill holes, along with the associated three-dimensional modelling, has underscored this potential.  We now look forward to our summer exploration programme at Salinbas, which will be focused on follow-up surface sampling to further define this prospective horizon ahead of drill testing.”

Quick facts: Ariana Resources PLC

Price: 4.1 GBX

AIM:AAU
Market: AIM
Market Cap: £43.45 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Ariana Resources PLC named herein, including the promotion by the Company of Ariana Resources PLC in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

'Still plenty of buying opportunity for gold' despite Fed rate hike uncertainty'

Mining Capital's Alastair Ford tells Proactive's Andrew Scott that despite gold still being on the slide it could turn at any moment if a trade war boils over . He says gold has now begun the slow slide that was always inevitable in a rising interest rate environment. On 28 June the...

on 29/6/18

2 min read