StockMarketWire.com - Ariana Resources has confirmed new vein extensions at the the Kiziltepe project in Turkey following its phase two drilling programme in 2016.

Kiziltepe is part of the Red Rabbit joint venture with Proccea Construction Co and will be 50% owned by Ariana once the mine is operational in the first quarter of this year.

Highlights:

- 125m vein extension tested at Banu with several near surface results including 3m @ 3.36 g/t Au + 95.4 g/t Ag, 5m @ 1.88 g/t Au + 41.8 g/t Ag and 4m @ 1.16 g/t Au + 24.9 g/t Ag.

- Best individual intercept at Banu is 1m @ 7.95g/t Au + 170g/t Ag, which along with a previous intercept at Fidan of 4.75m @ 4.26 g/t Au + 65.2 g/t Ag demonstrates the potential for high grades within the south-eastern end of the Kiziltepe vein system.

-New silver-rich vein extension discovered at Arzu Far South, with intercepts including 8m @ 0.82 g/t Au + 60.4 g/t Ag, 2m @ 1.35 g/t Au + 64.6g/t Ag and 3m @ 0.72 g/t Au + 41.2 g/t Ag.

Further exploration required on several other zones of mineralisation within the Banu, Fidan and Arzu Far South areas.

Managing director Dr. Kerim Sener said: "Adding a further 125m to the mineralised vein strike at Banu potentially represents a meaningful addition to our resource at this locality.

"The grades encountered over at least 75m of this additional vein strike demonstrate the potential for extraction from an extended open-pit.

"Meanwhile, at Arzu Far South we have discovered a vein array which is highly anomalous in gold and particularly silver, which appears to represent the top of the system.

"Further drilling, targeting greater depths, may be warranted in this area.

"In addition, previous high-grade drilling results from the Fidan Vein require further investigation in the context of the Arzu Far South discovery.

"Notably a single shallow intercept of 4.75m @ 4.26 g/t Au and 65.2 g/t Ag from 5.7m depth, which occurs between Fidan and Arzu Far South must be followed-up as a priority.

"Also a 250m long high-grade vein system sampled and mapped at Banu West still requires drill testing."


At 9:35am: [LON:AAU] Ariana Resources PLC share price was -0.03p at 1.73p



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