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Ariana expects 20,000 ounces of gold production in 2018

The Kiziltepe gold mine in Turkey is performing well in its second year of operation
Gold production will run at around 20,000 ounces of gold this year

Ariana Resources plc (LON:AAU) expects to produce 20,000 ounces of gold in 2018 from its Kiziltepe gold project in Turkey, an increase on an annualised basis of around 47% over the number for 2017.

What’s more, henceforth Ariana will stop reporting in gold equivalent and instead treat silver as a by-product credit.

The previously envisaged production target included silver ounces in the 20,000 gold equivalent total.

Taking account of just gold, this year’s target will put Ariana around 21% ahead of the output planned in the feasibility study for the second year of operations.

Ore throughput to the mill during 2018 is expected at around 180,000 tonnes, which represents a 20% increase over the feasibility plan.

Average grade of gold processed during the year will be in the region of 4 grams per tonne and gold recovery is expected to exceed 90%. 

"We are very pleased to have reported in early February a strong operational finish to 2017,” said Ariana’s managing director Dr Kerim Sener.

“The Kiziltepe mine continued to perform very well and maintained positive operational momentum throughout the fourth quarter and in to the first quarter of 2018.  With our gold production guidance for the JV indicating circa 20,000 ounces for the year, we look forward to delivering further towards our solid growth trajectory.”


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