Ariana Resources shared an update on JORC compliant Mineral Resource Estimate for the Kizilcukur Project which is 100% owned by Ariana through its subsidiary Galata Madencilik.
The company revised the Global Mineral Resource Estimate to approx 21,100 oz gold and 0.62 Moz silver contained metal on three main veins.
According to the update, significant improvement realized in resource category and grade, with 85% of the tonnage in Measured and Indicated categories: 218,317 t @ 2.72 g/t Au and 77.04 g/t Ag.
46% of the Measured and Indicated tonnage is located within the higher-grade “Zeki” Main Vein, with a grade of 3.62 g/t Au and 82.54 g/t Ag. and trial mining operations have commenced.
The company stated that it is considering options to develop this satellite deposit as a source of ore for the Kızıltepe processing plant.
Dr. Kerim Şener, Managing Director, commented about the recent Mineral Resources Update: “This is a significant improvement over the previous resource estimate, which integrates the latest drilling data and geological modelling. Most of the resource now sits within the lower risk Measured and Indicated categories, in comparison to the previous estimate which contained only Indicated and Inferred Resources. This is largely the result of the in-fill diamond drilling that was completed on the higher-grade Zeki Vein in early 2019.
While the initial plans for the Project comprise development across up to three shallow open pits, there is further exploration potential which has been defined in deeper drilling on the Zeki Vein and along strike of the other veins. However, further work would need to be completed before this potential is better understood. No further drilling is planned on the Project until full-scale mining operations are able to be established.
In the meantime, we intend to continue with trial mining at the site and to commence an initial bulk processing trial at the Kiziltepe processing plant when operational conditions permit.”
