Announcement Date: 2022-11-29
Announcement Type: Deposit Estimation
Announcement Code: JORC
Company name: Ariana Resources Plc
Project name: Tavsan
Location: Turkey
Commodities: Gold,Silver
Highlight: Updated Resource Estimate for Project
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Ariana Resources plc (“Ariana” or the “Company”), the AIM-listed mineral exploration and development company with gold mining interests in Europe, is pleased to announce an update to its JORC Resource Estimate for the Tavsan Mine . The mine is currently in construction and being operated by 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. Between late 2021 and early 2022, the Ariana and Zenit teams undertook a significant new drilling programme across the Tavsan Sector for 4,355m (Figure 1) comprising 112 diamond drillholes (including twelve geotechnical drill holes for 374.6m), following which a revised Mineral Resource Estimate (“MRE”) was completed. This phase of estimation has involved integrating the latest drilling data (see RNS 16 June 2022), which has, in addition to increasing the global resource, enhanced confidence in resource classification
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