AIM-listed gold miner Ariana Resources has reported a positive update on activities at Red Rabbit in western Turkey which reinforce the the production potential at this flagship gold project.
Ariana has found high surface silver grades (averaging 65 g/t) from the Karakaya Vein at its Kepez prospect which complement existing high gold grades (gold equivalent grades now average 8.32 g/t).
As such, the group says that high gold equivalent grades could potentially lead to a doubling to the resources estimate for Kepez and lead to earlier-than-planned drilling at Red Rabbit.
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
Managing director Kerim Sener said "These excellent silver results, make the already high-grade Karakaya Vein at Kepez an even more valuable prospect."
"While the Karakaya Vein continues to excite and is a priority target for our ongoing exploration programmes in the region, it forms only part of the wider Kepez prospect area. The geophysics programme conducted earlier in the year, coupled with prospect-wide surface geochemical anomalies, lead us to believe that Kepez will yield further high grade areas."
BC
-
Christmas at Chatsworth: review of The Cavendish Hotel at BaslowMoneyWeek Travel Matthew Partridge gets into the festive spirit at The Cavendish Hotel at Baslow and the Christmas market at Chatsworth
-
Tycoon Truong My Lan on death row over world’s biggest bank fraudProperty tycoon Truong My Lan has been found guilty of a corruption scandal that dwarfs Malaysia’s 1MDB fraud and Sam Bankman-Fried’s crypto scam
