Ariana Resources plc, the AIM-listed mineral exploration and development company with gold mining interests in Europe, has announced recent resource and extension drilling results from the Tavsan Project in Turkey, and outline the progress of the mine development work.
The project is operated via Zenit Madencilik San. ve Tic. A.S., in partnership with Proccea Construction Co. and Ozaltin Holding A.S. and is 23.5% owned by Ariana.
“The latest drilling results from Tavsan are some of the most exciting we have ever released. High-grade mineralisation not only occurs on extensions of the North Zone near surface, but most intriguingly is now identified in the deep drilling on the project. This suggests that there may be other laterally extensive high-grade structures developed along other thrust-planes beneath the main zone of mineralisation at Tavsan. The purpose of this deeper drilling was to test this hypothesis, and these results confirm our understanding of this potential.
“Meanwhile, mining at Tavsan remains underway at the Main Pit, with high-grade material being stockpiled preferentially. The production of the first gold at Tavsan will be derived from this high-grade material. Other construction activities are both ongoing and on schedule, with further updates on progress to be provided in future announcements.
“We are continuing to update our geological model based on the new data, which is contributing towards a revised Mineral Resource Estimate. This in turn will be used to update our production targets and development plans for 2024. We expect to release the results of the new estimation before the end of this month.”