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LONDON (Alliance News) - Ariana Resources PLC on Monday said its summer drilling programme will commence this week on the Kiziltepe project in Turkey.
Kiziltepe is part of the Red Rabbit joint venture with Proccea Construction Co and will be 50%-owned by Ariana once mine construction is complete in the fourth quarter of 2016.
The summer drilling programme will include reverse circulation drilling to focus on the extensions of several veins in the vicinity of the Kiziltepe mine, totalling 4,000 metres. A multi-purpose rig will also be mobilised to site, providing capacity to drill some diamond holes if necessary.
Additional targets have also been defined at both Kiziltepe and the Karakavak prospect, which may be drill-tested towards the end of the current programme.
"Following a very successful drilling programme late last year, we are now well positioned to drill-test the extension of the Arzu structure beneath cover. In recent months we have also defined several additional target areas at Kiziltepe which we are looking forward to drilling. In addition, we are considering our first holes on the Karakavak prospect, now that we have secured permits in that area too," Managing Director Kerim Sener said in a statement.
"Our operations remain unaffected by recent events in Turkey, which were resolved swiftly and effectively," Sener added.
Shares in Ariana were trading down 2.8% at 1.80 pence on Monday morning.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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