The project is located some 22 kilometres from the Kiziltepe mine, which is part of the Red Rabbit joint venture project.
It revealed that metallurgical test of previously gathered bulk sampling material has demonstrated high gold recoveries – a 7.4 tonne sample yielded recovery rates between 83% and 92%, Ariana said.
The precious metal content was measured up to 7.7 grams per tonne for gold and 160 grams per tonne silver, averaging 3.8 grams per tonne and 136 grams per tonne.
Trial mining last year produced an initial 4,000 tonnes of material which is currently stockpiled on site, and further trial mining planned for 2018/19.
It highlighted that the Kizilcukur vein system has potential to extend across an area of 2.3km x 0.3km, and, that mineralization has been encountered separately in the northeast part of the licence area.
Ariana has now kicked off a new revised economic study to consider the viability of mining and trucking of the Kizilcukur ore to the Kiziltepe plant.
"We are delighted that the latest work at Kizilcukur continues to highlight the potential for the project to become a satellite source of ore for the Kiziltepe Mine,” said Dr Kerim Sener, Ariana managing director.
“Recent metallurgical tests demonstrate that the Kizilcukur ore responds well to the leach conditions utilised within the Kiziltepe processing plant, with very high gold recovery.”
He added: “The company is planning further work across this licence area during 2018 and is looking forward to updating the market in due course."