Ariana Resources PLC (AIM:AAU) has announced positive resource drilling and exploration results at the Tavsan project in western Turkey.
“These drill results have continued to strengthen our understanding of the Tavsan gold-silver deposit and have greatly extended the footprint of known mineralization, particularly in the northern zone,” said the company’s managing director. mining exploration and development listed on AIM, Dr. Kerim. Sener, said.
“In fact, some of the highest grades and widest intersections of mineralization on the entire project are now found in this area. As a result, we expect a significant improvement in the mineral resource estimate in this particular area.
Infill drilling results from the North Zone resources include: 17.8 meters (m) at 2.93 grams per tonne (g/t) gold and 5.1 g/t silver, of which 3.2 m at 6.84 g/t gold and 8.3 g/t silver; 12.0 m at 1.70 g/t gold and 2.9 g/t silver; and 12.9 m at 1.57 g/t gold and 1.9 g/t silver.
The primary objective of the 2021/2022 drilling program at Tavsan was to provide infill drilling data to support a reclassification of Tavsan’s resources, primarily into the more certain Measured and Indicated categories. A total of 55 of the 96 holes drilled intersected gold mineralization greater than 1 g/t gold over a sample length of 1 meter.
Drilling in the Main Zone, which contains the bulk of the project’s current resource estimate, showed average intercept values ranging from 1 to 4 g/t gold, while drilling in the West Zone intercepted generally lower grades with average values ranging from 0.5 to 2 g/t. t gold.
The company also provided an update on clearance and other project milestones.
“The authorization for Tavsan is now close to being finalized and the construction phase of the project is expected to start in July, once the financing agreements are completed,” Sener said.
“We will revise our feasibility study for Tavsan once the new resource estimate is complete and financing terms are agreed. This is an exciting time in the development of our second mine in Turkey and further market updates. will be provided in due course.
The project is operated by Zenit Madencilik San. see Tic. AS in partnership with Proccea Construction Co and Ozaltin Holding AS and is 23.5% owned by Ariana.