Ariana Resources announces Tavsan resource drilling results

Highlights

• Infill resource drilling results from Tavsan include:
  • 17.8 m at 2.93 g/t gold (Au) and 5.1 g/t silver (Ag), including 3.2 m at 6.84 g/t Au and 8.3 g/t Ag.
  • 12 m at 1.7 g/t Au and 2.9 g/t Ag, including 5.3 m at 2 g/t Au and 2.6 g/t Ag.
  • 12.9 m at 1.57 g/t Au and 1.9 g/t Ag.
• 96 new holes drilled within the mineral resource area, providing data for a revised mineral resource estimate (MRE).
• Work on the MRE is well underway, with a feasibility study to be updated on completion of the new resource estimate.
• 12 geotechnical drill-holes were also completed at the proposed Tavsan processing plant site.

Dr Kerim Sener, Managing Director, commented: “These drilling results have continued to reinforce our understanding of the Tavsan gold-silver deposit and have largely extended the footprint of known mineralisation, particularly across the North Zone. In fact, some of the highest grades and widest intercepts of mineralisation in the whole project are now located in this zone. Accordingly, we are expecting a significant improvement in the MRE in this area in particular.

“Permitting for Tavsan is now nearing conclusion and the construction stage of the project is due to commence in July, once financing arrangements are completed. We will be revising our feasibility study for Tavsan on completion of the new resource estimate and once finance terms are agreed. This is an exciting time in the development of our second mine in Turkey and further updates to the market will be provided in due course.”

Drilling programme

Between November 2021 and March 2022, a 4,354.8 m geotechnical and resource infill drilling programme was completed at Tavsan. 96 drill holes for a total of 3,871.7 m of HQ diamond drilling was completed specifically for resource infill, covering all four major mineralised zones at Tavsan. At the peak of the programme, three drill rigs were operating simultaneously. The average depth for all drilling was approximately 39 m, with a minimum depth of 3.8 m and a maximum depth of 114.3 m. All holes, except for one hole angled at 45°, were drilled vertically.

The primary objective of the 2021/2022 drilling programme at Tavsan was to provide infill drilling data between historic drill collars to support a reclassification of the Tavsan resources, primarily into the measured and indicated categories. To date, all assay results for gold and silver have returned from both the Zenit and ALS laboratories. The majority of the multi-element AAS results have also been returned, with only a few batches of samples remaining.

The results received include 55 holes which intercepted gold mineralisation exceeding 1 g/t Au over a sample length of 1 m, to a maximum intercept of 17.8 m:

• TAV-D66-21: 17.8 m at 2.93 g/t Au and 5.1 g/t Ag, including 3.2 m at 6.84 g/t Au and 8.3 g/t Ag.
• TAV-D69-22: 12 m at 1.7 g/t Au and 2.9 g/t Ag, including 5.3 m at 2 g/t Au and 2.6 g/t Ag.
• TAV-D90-22: 12.9 m at 1.57 g/t Au and 1.9 g/t Ag.

North Zone

37 new drill holes have been drilled within the Tavsan North Zone. These holes have intercepted some of the widest intervals and highest grades of the 2021/2022 programme, including holes TAV-D66-21, TAV-D69-22, TAV-D79-22 and TAV-D90-22. Average drill hole spacing within the North Zones is now approximately 48 m. Step-out drilling from the existing resource holes has expanded the known mineralisation footprint by up to 120 m.

Main Zone

The Main Zone contains the bulk of the Tavsan MRE. 38 new drill holes were drilled within the Tavsan Main Zone. This drilling shows that the most consistent grades occur within the 0.3 km2 Main Zone resource area, with average intercept values ranging from 1 – 4 g/t Au respectively. The average collar spacing within the Main Zone is now 38 m. Surface grades defined from the 2019/2020 rock saw channel sampling have identified some of the most significant grades peaking at 18.8 g/t Au over a 1.4 m interval (TAV-CH087-19).

West Zone

21 new holes were drilled at the Tavsan West Zone. Drilling here has confirmed mineralisation where historic drilling was probably terminated too early. However, overall, the mineralisation at Tavsan West Zone is generally lower grade with average intercept values ranging from 0.5 – 2 g/t Au. Average drill collar spacing at Tavsan West Zone is now 48 m.

Read the article online at: https://www.globalminingreview.com/exploration-development/20062022/ariana-resources-announces-tavsan-resource-drilling-results/