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Ariana Resources PLC - Europe-focused exploration company - Says Monday that new drilling campaign of approximately 5,000 metres at Kiziltepe to commence by early 2021, to continue testing vein extensions at Arzu South, Arzu North, Banu and Derya. Pre-payments under the terms of the agreements totalling USD2.8 million have been made to Ariana and Proccea, of which Ariana has received USD1.5 million.
"We are now accelerating plans to further drill-test vein extensions across the Kiziltepe mine area, in order to further expand the resources and reserves. In addition, plans to complete further resource drilling at the Tavsan Project are significantly advanced, the results of which will be integrated into the feasibility study. We are expecting to commence the latter drilling programme from early Q2 2021 once the permitted areas are accessible following the winter," Managing Director Kerim Sener says.
Current stock price: 5.28 pence
Year-to-date change: more than double
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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