Drilling results from Kızılçukur and Kızıltepe sections of Red Rabbit Project which is operated by Zenit Madencilik, JV company between Ariana Resources and Proccea Construction Co. was shown up. Kızılçukur section is located approximately 22km to the northeast of Kızıltepe Mine and drilling program at Kızılçukur has exploration purpose, whereas the drilling program of Kızıltepe has been carried to identify potential extensions of the Kızıltepe mine.
For the drilling program of Kızılçukur:
1,598 meters of new Reverse Circulation drilling identifies high-grade and near surface zones of mineralisation within the Kızılçukur vein system; all intercepts hit mineralisation within less than 60m from surface. The best results from the drilling are:
8 m at 7.6 g/t Au + 194 g/t Ag,
5 m at 3.5 g/t Au + 263 g/t Ag,
11 m at 1.3 g/t Au + 73 g/t Ag.
Additionally, the results of 76 meters of rock-saw channel sampling are:
2.0 m at 10.5 g/t Au + 455g /t Ag,
2.7 m at 4.4 g/t Au + 229 g/t Ag,
2.5 m at 3.1 g/t Au + 177 g/t Ag.
For the drilling program of Kızıltepe:
Three new exploration holes into Arzu Central, between the Arzu North and Arzu South production areas, confirms the potential of a 600 m extension to the known mineralised strike length of the Arzu vein system. . The best results from the drilling are:
22 m at 2.93 g/t Au + 29.76 g/t Ag,
10 m at 2.32 g/t Au + 46.79 g/t Ag,
5 m at 0.99 g/t Au + 13.62 g/t Ag.
Moreover, the best results from near surface pre-production drilling over Arzu South area are given as:
5 m at 3.23 g/t Au + 68.60 g/t Ag,
3 m at 4.98 g/t Au + 74.57 g/t Ag,
4 m at 3.38 g/t Au + 76.40 g/t Ag.
The Managing Director of Ariana Resources, Kerim Şener stated, ““This is an extremely exciting development in the exploration of the Kızıltepe Mine area. We have now confirmed the potential for Arzu Central to contain mineralisation of the same calibre as the rest of the Arzu vein system. The results are fully in line with our expectations following the establishment an Exploration Target in this area, which has the potential to double the current resources at Kızıltepe and will become a key focus for further exploration efforts. In time, such additions to the resource base may further increase the mine life of Kızıltepe well beyond the eight years currently planned. In addition, we are pleased to note that we will be submitting new forestry permit applications to enable drilling through this area as part of a broader programme.” regarding the drilling results from Kızıltepe.
He also commented about the results from Kızılçukur, “The results have confirmed previous work and show that the highest gold and silver grades are encountered within 30m of surface, which is particularly encouraging when considering that open-pit mining is also envisaged at this location. Future drilling will need to concentrate on a specific level within the vein system to demonstrate the full strike potential of this resource area. We expect to continue to improve the resource at this project through further drilling and, in addition, look forward to updating the market with further drilling results, including those from the Kızıltepe Mine.”