RCS - Ariana Resources PLC - Gold Sponsor at the Society of Economic Geologists

Ariana ResourcesAnnouncement

23/08/2023 10:00

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RNS Number : 2181K  Ariana Resources PLC  23 August 2023

RNS Reach

23 August 2023

AIM: AAU

GOLD SPONSOR AT THE SOCIETY OF ECONOMIC GEOLOGISTS 2023

Ariana Resources plc ("Ariana" or "the Company"), the AIM-listed mineral
exploration and development company with gold mining interests in Europe, is
pleased to announce that it is a Gold Sponsor for the Society of Economic
Geologists Conference, taking place between August 26 - 29 2023.

Ariana Resources' expert geologist team will be available to meet interested
parties at Booth 8 in the Richmond Suite of the Hilton London Metropole.

The team will also be presenting on all themes at the conference. To see a
schedule, please click here
(https://www.segweb.org/SEG-2023/Program/Technical-Program/SEG-Conference/SEG-2023/Technical-Program.aspx?hkey=511d373f-6f8e-4591-801b-7e9201c65878#8-27-2023)
.

Contacts:

 

 Ariana Resources plc                           Tel: +44 (0) 20 7407 3616
 Michael de Villiers, Chairman
 Kerim Sener, Managing Director
 Beaumont Cornish Limited (Nominated Adviser)   Tel: +44 (0) 20 7628 3396
 Roland Cornish / Felicity Geidt
 Panmure Gordon (UK) Limited (Joint Broker)     Tel: +44 (0) 20 7886 2500
 John Prior / Hugh Rich / Atholl Tweedie
 WHIreland Limited (Joint Broker)               Tel: +44 (0) 207 2201666

 Harry Ansell / Katy Mitchell / George Krokos

 Yellow Jersey PR Limited (Financial PR)        Tel: +44 (0) 7983 521 488
 Dom Barretto / Shivantha Thambirajah /         arianaresources@yellowjerseypr.com (mailto:arianaresources@yellowjerseypr.com)

Bessie Elliot

 

 

Editors' Note:

About Ariana Resources:

Ariana is an AIM-listed mineral exploration and development company with an
exceptional track-record of creating value for its shareholders through its
interests in active mining projects and investments in exploration companies.
Its current interests include gold production in Turkey and copper-gold
exploration and development projects in Cyprus and Kosovo.

 

The Company holds 23.5% interest in Zenit Madencilik San. ve Tic. A.S. a
partnership with Ozaltin Holding A.S. and Proccea Construction Co. in Turkey
which contains a depleted total of c. 2.1 million ounces of gold and other
metals (as at February 2022). The partnership comprises the Kiziltepe Mine and
the Tavsan and Salinbas projects.

 

The Kiziltepe Gold-Silver Mine is located in western Turkey and contains a
depleted JORC Measured, Indicated and Inferred Resource of 222,000 ounces gold
and 3.8 million ounces silver (as at February 2022). The mine has been in
profitable production since 2017 and is expected to produce at a rate of
c.20,000 ounces of gold per annum to at least the mid-2020s. A Net Smelter
Return ("NSR") royalty of 2.5% on production is being paid to Franco-Nevada
Corporation.

 

The Tavsan Gold Mine is located in western Turkey and contains a JORC
Measured, Indicated and Inferred Resource of 307,000 ounces gold and 1.1
million ounces silver (as at November 2022). Following the approval of its
Environmental Impact Assessment and associated permitting, Tavsan is being
developed as the second gold mining operation in Turkey and is currently in
construction.  A NSR royalty of up to 2% on future production is payable to
Sandstorm Gold.

 

The Salinbas Gold Project is located in north-eastern Turkey and contains a
JORC Measured, Indicated and Inferred Resource of 1.5 million ounces of gold
(as at July 2020). It is located within the multi-million ounce Artvin
Goldfield, which contains the "Hot Gold Corridor" comprising several
significant gold- copper projects including the 4 million ounce Hot Maden
project, which lies 16km to the south of Salinbas. A NSR royalty of up to 2%
on future production is payable to Eldorado Gold Corporation.

 

Ariana owns 100% of Australia-registered Asgard Metals Fund ("Asgard"), as
part of the Company's proprietary Project Catalyst Strategy. The Fund is
focused on investments in high-value potential, discovery-stage mineral
exploration companies located across the Eastern Hemisphere and within easy
reach of Ariana's operational hubs in Australia, Turkey and the UK.

 

Ariana owns 75% of UK-registered Western Tethyan Resources Ltd ("WTR"), which
operates across south-eastern Europe and is based in Pristina, Republic of
Kosovo. The company is targeting its exploration on major copper-gold deposits
across the porphyry-epithermal transition.  WTR is being funded through a
five-year Alliance Agreement with Newmont Corporation (www.newmont.com) and
is separately earning-in to 85% of the Slivova Gold Project which contains
Measured, Indicated and Inferred Resource of 176,000 oz gold and 646,000 oz
silver (as at July 2023).

 

Ariana owns 58% of UK-registered Venus Minerals Ltd ("Venus") which is focused
on the exploration and development of copper-gold assets in Cyprus which
contain a combined JORC Indicated and Inferred Resource of 17Mt @ 0.45% to
1.10% copper (excluding additional gold, silver and zinc.

 

Panmure Gordon (UK) Limited and WH Ireland Limited are brokers to the Company
and Beaumont Cornish Limited is the Company's Nominated Adviser.

 

For further information on Ariana, you are invited to visit the Company's
website at www.arianaresources.com (http://www.arianaresources.com) .

 

Ends.

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