03:00 Thu 17 Oct 2019
Ariana Resources PLC - DERYA DRILLING RESULTS
AIM: AAU
DERYA DRILLING RESULTS
Highlights:
· Infill resource drilling results from the Derya Vein include 16m @ 2.04 g/t Au + 14 g/t Ag, 2m @ 9.88 g/t Au + 4 g/t Ag, and 2m @ 5.80 g/t Au + 70 g/t Ag.
· Confirmation of several mineralised structures between Derya and
· New geological modelling and pit optimisation studies underway in order to revise the resources for the Derya and
· Mining at Derya has commenced following receipt of necessary forestry permissions earlier in the year.
Dr.
"The latest drilling results from the Derya area continue to reinforce the continuity of mineralisation at depth and to the east along strike of the currently open-pittable reserve. The grades and widths of mineralisation encountered increase our confidence in the current resource model and also demonstrate the potential for a further extension of the open-pit to the east and/or mining by underground methods in the future. It is also apparent that the area between Derya and
Drilling Programme
During the summer of 2019, the Ariana exploration team completed a Reverse Circulation (RC) programme of resource infill drilling over the Arzu South, Derya and
The current phase of the programme focused on progressively increasing the resources at Kiziltepe. This programme was initiated in July, aiming to achieve three primary objectives:
1) Complete infill drilling at the eastern end of the Derya resource prior to the commencement of mining in Q4 2019.
2) Complete additional drilling at Arzu North, following the results from
3) Conduct initial testing for any underground potential at Arzu South to support an underground resource estimation.
A total of 3,162 meters of RC drilling for 25 holes was completed during this latest phase of drilling (Figure 1). Samples from the programme were submitted to the mine site laboratory for fire assay analysis for gold and silver only.
To date, all results for drilling conducted within the Derya area have been returned, completing the first objective from this second phase of work. A total of 726 meters for six holes have now been assayed at the onsite laboratory. A further 2,436 meters of additional drilling for 19 holes is still currently being processed at the mine laboratory for the Arzu North and Arzu South areas.
Drilling at Derya successfully intercepted significant mineralisation at key gaps in the current resource (Table 1), which has been undergoing a full review before the commencement of open-pit mining during Q4 2019. Significant intercepts from these initial results of the current programme include:
• 16m @ 2.04 g/t Au + 14 g/t Ag
• 2m @ 9.88 g/t Au + 4 g/t Ag
• 2m @ 5.80 g/t Au + 70 g/t Ag
An additional objective of the drilling completed at Derya, was to test for likely connecting vein structures that lie between the Arzu North and Derya vein systems (e.g. the Aybor Vein system). The discovery of additional mineralisation between
• 2m @ 1.17 g/t Au + 12 g/t Ag
• 1m @ 2.33 g/t Au
• 1m @ 1.27 g/t Au
The results received to date support additional growth of the Derya and wider resource for the Kiziltepe Sector.
http://www.rns-pdf.londonstockexchange.com/rns/1505Q_1-2019-10-16.pdf
Figure 1: Plan of the Derya Vein, showing certain recent drilling results, the projection of the Derya orebody to surface and the outline of the current designed pit. The position of the bonanza hole drilled in 2012 is also show for reference.
Table 1: Significant intercepts calculated for drilling on the Derya Vein, using a 1 g/t Au minimum cut-off and allowing for up to 2m internal dilution. Internal dilution is 1m apart from the intervals marked *.
Hole ID |
From (m) |
To (m) |
Interval (m) |
|
|
KTP-RC11-19 |
69 |
85 |
16 |
2.04 |
14 |
87 |
91 |
4 |
1.84 |
19 |
|
KTP-RC12-19 |
62 |
64 |
2 |
9.88 |
4 |
77 |
78 |
1 |
1.07 |
0 |
|
83 |
84 |
1 |
1.60 |
0 |
|
97 |
104* |
7 |
1.04 |
1 |
|
114 |
115 |
1 |
8.90 |
7 |
|
KTP-RC13-19 |
49 |
50 |
1 |
1.10 |
0 |
52 |
53 |
1 |
1.27 |
0 |
|
85 |
87 |
2 |
1.17 |
12 |
|
133 |
136 |
3 |
1.67 |
8 |
|
KTP-RC14-19 |
18 |
20 |
2 |
1.04 |
15 |
23 |
25 |
2 |
5.80 |
70 |
|
40 |
41 |
1 |
2.60 |
17 |
|
43 |
47 |
4 |
2.22 |
37 |
|
49 |
51 |
2 |
1.54 |
3 |
|
57 |
60 |
3 |
1.28 |
7 |
|
KTP-RC15-19 |
3 |
4 |
1 |
1.27 |
3 |
12 |
16* |
4 |
2.19 |
21 |
|
22 |
27 |
5 |
1.43 |
10 |
|
47 |
49 |
2 |
1.93 |
50 |
|
KTP-RC16-19 |
88 |
89 |
1 |
2.33 |
0 |
Sampling and Assaying Procedures
Samples from this drilling programme were produced from a 5 ¾ inch Reverse Circulation RC hammer. Samples and duplicates were split every meter into independent calico bags via a sample splitter incorporated into the rig cyclone. Intervals of interest, identified by logging and pXRF analysis, were organised into batches in line with Ariana's quality control procedures. For Derya, a total of 706 samples were submitted (including 111 QA/QC samples), to the
Drill recoveries for all mineralised intercepts exceeded 90% recovery. All samples were assayed at the mine laboratory using a 30g fire assay. Samples were analysed in line with normal operating procedures for grade control analysis conducted for the Kiziltepe open pit. The addition of blanks, standards and duplicates were routinely included into the sample batches as part of Ariana's sampling procedures in adherence to the 2012 JORC Code. To add additional confidence to the mine laboratory analysis, 90 meters of mineralised material for the whole programme was sent as duplicate material to ALS Global in
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
Contacts:
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Tel: +44 (0) 20 7407 3616 |
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Tel: +44 (0) 20 7628 3396 |
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Tel: +44 (0) 20 7886 2500 |
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Tel: +44 (0) 20 3004 9512 |
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Editors' Note:
The information in this announcement that relates to exploration results is based on information compiled by Dr.
About
Ariana is an exploration and development company with mining operations focused on epithermal gold-silver and porphyry copper-gold deposits in
The Company's flagship assets are its Kiziltepe and Tavsan gold projects which form the
In north-eastern
For further information on Ariana you are invited to visit the Company's website at www.arianaresources.com.
Glossary of Technical Terms:
"Ag" chemical symbol for silver;
"Au" chemical symbol for gold;
"g/t" grams per tonne;
"JORC" the
"m" Metres;
"oz" Troy ounces;
Ends.
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