Ariana Resources PLC (LON:AAU) said drilling results confirm high grades from the Derya area of the Kiziltepe gold-silver mine in western Turkey.
The drilling programme is testing the central and south-eastern extents of the Derya vein system over 670 metres of strike to depths of about 130 metres below surface.
The results confirm high-grade continuity to depths exceeding 100 metres from surface within the central part of the Derya vein, the AIM-listed company said.
Significant new intercepts included 4.2 metres at 6.07 grammes a tonne (g/t) gold and 98.2g/t silver; 7.1 metres at 2.23g/t gold and 11.3g/t silver; and 2.5 metres at 6.07g/t gold and 71.8g/t silver.
“This is yet another substantial set of new drilling results from the Kiziltepe mine exploration programme,” said managing director Dr. Kerim Sener. “Derya is continuing to yield higher gold grades, particularly in the central part of the vein system and in an area within about 50m vertical depth below the current pit bottom.
“As the Derya pit continues to be developed, specifically towards the northwest, the pit is likely to be deepened to enable access to these higher-grade areas. Further pit optimisation will be undertaken in the coming months to determine the next stage of open-pit development in this area.
“It is also apparent that the Derya vein system links up with the Arzu structure, suggesting further potential to extend the limits of known gold and silver mineralisation between the Arzu and Derya open pits, the pit rims of which are only about 300m apart based on the current mine plan.
“In addition, it is now apparent that the vein system, like Arzu North, comprises several sub-parallel vein structures and the gold mineralisation is not confined to a single structure,” he concluded.
Kiziltepe is part of the Zenit Madencilik San. ve Tic. A.S. joint venture with Proccea Construction Co. and Ozaltin Holding A.S. and is 23.5% owned by Ariana.