Ariana Resources identifies potential in Turkey
Ariana Resources sees the potential for a one million-ounce deposit at its Salinbas/Ardala joint venture in north-east Turkey.
Ariana Resources sees the potential for a one million-ounce deposit at its Salinbas/Ardala joint venture in north-east Turkey.
The joint venture with Eldorado Gold Corporation identified 180,000 ounces of gold plus 820,000 ounces of silver at Salinbas with a further 590,000 oz of gold and 3.3mln oz of silver in the inferred category.
An additional 323,000 ounces of inferred resources were identified at Ardala.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"This maiden resource is an important step forward in our understanding of the Salinbas-Ardala system," said Managing Director Kerim Sener.
"Although we are still in the early stages and much exploration work remains to be done, we are now talking about the potential for the area to host a deposit that is in the one million ounce range and perhaps beyond."
However, further drilling will be required to confirm the potential.
Shares rose 1.92% to 1.32p at 13:59 on Wednesday.
RD
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
8 of the best converted properties for sale now
The best converted properties for sale – from an apartment in the former Hartley’s Jam factory on London’s Southbank, to a converted 18th-century mill in Itteringham, Norfolk
-
How taking a two-year career break could leave a £26k hole in your pension
Career breaks are increasingly common but it is important to take steps to protect your pension, as gaps compound over time