Ariana Resources announces significant resource increase at Tasvan

Highlights:

• Global resource increased by 22% over the previous mineral resource estimate (MRE) to 6.6 million t at 1.44 g/t Au and 5.26 g/t Ag for 307 000 oz Au and 1.1 million oz Ag.
• High-grade domain of 1.1 million t at 2.74 g/t Au and 4.89 g/t Ag for 96 000 oz Au and 171 000 oz Ag is defined for the first time.
• Significant additional potential of 1.7 million t of below cut-off grade material occurs in the 0.5 to 0.7 g/t Au range for circa 34,000 oz Au.
• Resource is further de-risked with 83% now classified in the measured & indicated JORC resource categories.
• Exploration targets previously defined in the East and South zones are being assessed and up to 4600 m of drilling is currently underway to test resource extensions; resource is not closed-off in several areas.

Dr. Kerim Sener, Managing Director, commented:

"This MRE represents a tremendous enhancement for Tavsan, as construction continues on site. Not only has the total resource grown to approximately 7 million t, but about 1 million t of this is now attributed to a newly defined high-grade domain containing sufficient resources to potentially satisfy up to three years of gold output in its own right. This is all the more impressive considering that the 2016 scoping study had only considered a total mine life of four years from the entire resource. Current planning is consequently focusing on a mine life of eight years.

"When we acquired the project in 2008, we did so with the expectation that the resource could grow to this scale. Now that we have achieved this significant milestone, and after having completed additional work, we see that there is further room for growing the resource. This is already apparent when considering the potential impact of a lower cut-off grade of 0.5 g/t, which could add a further 34 000 oz of gold to the resource currently, which could aid the further extension of mine life."

Read the article online at: https://www.globalminingreview.com/mining/29112022/ariana-resources-announces-significant-resource-increase-at-tasvan/