LONDON (Alliance News) - Ariana Resources PLC Monday said the mineral resource at the Kizilcukur project in Turkey has been doubled following its recent drilling programme on the asset.
The JORC compliant mineral resource estimate for the project now stands at 308,000 tonnes of ore at 2.11 grammes of gold per tonne of ore and 73.4 grammes of silver, yielding 33,000 ounces of gold equivalent. That estimate comprises of indicated and inferred resources.
That is double the previous estimate and the mineral resource mainly lies within three shallow open pits which are around 40 to 90 metres deep.
Ariana believes the resource could extend the Kiziltepe mining operation for around 18 months if that resource at Kizilcukur is developed as a satellite deposit.
The miner also believes there is further upside that could lead to that resource growing even more, as only 35% of the total vein system has been tested.
By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
Ariana (AAU)