Ariana Resources has reported encouraging drilling results from the Kiziltepe mine in Turkey.

Kiziltepe is part of the Red Rabbit joint venture with Proccea Construction and 50% owned by Ariana.

Highlights included encountering 44.0 metres at 1.50 grams per tonne of gold.

'These encouraging results suggest that there is potential in the Arzu North area to identify a large-tonnage and lower-grade resource, which could extended the life of mine at Kiziltepe,' chief executive Kerim Sener said.

'We are investigating opportunities with our JV team to assess this potential further through future drilling programmes and look forward to commencing mining in these fully permitted areas later this year.'

'From the results of this work, we can conclude that the Arzu North vein system broadens out into a series of sub-parallel mineralised structures hosted within a halo of mineralised and altered volcanic rocks. This is apparent from the wide zones (>20m) gold and silver mineralisation encountered particularly towards the NW end of Arzu North."


At 2:24pm: (LON:AAU) Ariana Resources PLC share price was -0.05p at 1.8p