Ariana Resources PLC

Ariana Resources reveals positive results from new Salinbas drilling

"We are very pleased to report our preliminary drilling results from the Salinbas gold project, since it became 100% held by Ariana,” said Dr Kerim Sener.

Highlight results include gold grades up to 5.33 grams per tonne

Ariana Resources PLC (LON:AAU) rose on Thursday as the miner highlighted ‘positive’ drill results from the Salinbas gold project in the ‘hot gold corridor’ in Turkey.

Drilling encountered ‘Salinbas-type’ mineralisation in several holes, in an area between the known Salinbas deposit and the Ardala porphyry system.

READ: Ariana Resources in confident mood as Turkish operations ramp up

Highlighted results included grades of up to 5.33 grams per tonne across 11 metres and 47.1 grams per tonne silver. The holes also encountered significant base-metal intercepts, where precious metals were also seen, beneath the Salinbas mineralised horizon.

Further results are due from the lab.

"We are very pleased to report our preliminary drilling results from the Salinbas gold project, since it became 100% held by Ariana,” said Dr Kerim Sener, managing director.

“These results, while only partial at this stage, demonstrate the development of a major magmatic-hydrothermal system in the vicinity of the Ardala Cu-Au-Mo porphyry." 

Senner added: “[It] confirms that the mineralised part of the Ardala porphyry, which is enriched in precious and base-metals, does connect intimately with the Salinbas gold-silver zone and that the two systems should in fact be treated as one.” 

“This was a prediction from our earlier geological modelling and is a finding that bodes exceptionally well for the discovery of further mineralisation in the vicinity, particularly in the immediate surrounds of the Ardala porphyry. 

“This is an area, which to date, has been poorly explored.  Consequently we continue to remain excited by the exploration upside of the project and look forward to commencing our follow-up work programmes."

In late morning trading, shares in Ariana were 1.1% higher at 2.40p.

 -- Adds share price --

Quick facts: Ariana Resources PLC

Price: 2.05 GBX

Market: AIM
Market Cap: £21.72 m


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