StockMarketWire.com - Mining group Ariana Resources the operating licence had been renewed for the Ivrindi gold project in Turkey.

The licence was extended for 10 years, expiring on 3 June 2030, with the possibility for extension.

'Exploration and development activities at our Ivrindi project were slowed down last year while we went through the process of renewing of our operating licence, which we have now secured successfully for a further 10 years,' managing director Kerim Sener said.

'Prior to this, the company had demonstrated significant upside and had indicated our objective to mine and truck material from Ivrindi to the Kiziltepe processing plant.'

'Accordingly, metallurgical testwork for Ivrindi was completed last year, along with additional trial mining.'

'We currently maintain a stockpile of ore at Ivrindi which is expected to be trucked to Kiziltepe for trial processing in the future.'

'Meanwhile a 1,500m reverse circulation drilling programme is planned to test the full strike-length of the mineralised structure at Ivrindi once new forestry permits are secured and we look forward to updating the market on this in due course.'


At 2:10pm: [LON:AAU] Ariana Resources PLC share price was -0.15p at 4.05p



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