Interim Results for the Period Ended 30 June 2015

30 September 2015

 

Ariana Resources plc ("Ariana" or "the Company"), the gold exploration and development company focused on Turkey, is pleased to announce its unaudited interim results for the six months ended 30 June 2015.

Highlights:

  • Advancement of the Red Rabbit Gold Project (“RRGP”), Kiziltepe Mine, into construction.
  • Strategic investment incentives approved by the Turkish Government for Kiziltepe.
  • Continued progress across exploration and development portfolio – new mineralised zones at Kiziltepe to be drill tested in Q4 2015.
  • Kiziltepe on track to deliver first gold pour in H2 2016.

Michael de Villiers, Chairman, commented:

“I am very pleased to be able to report the significant progress made by Ariana in the first half of this financial year where we are transitioning into a gold producer at our Red Rabbit Gold Project in Turkey. We have been further encouraged by results from recent work suggesting the project contains significant potential for further resource discoveries in the vicinity. The Board is looking forward the continuing the successful execution of our Company strategy and to a positive year end.”

To read the full announcement click here

Contacts:

 

Ariana Resources plc

Tel: +44 (0) 20 7407 3616

Michael de Villiers, Chairman

 

Kerim Sener, Managing Director

 
   

Beaumont Cornish Limited

Tel: +44 (0) 20 7628 3396

Roland Cornish / Felicity Geidt

 
   

Beaufort Securities Limited

Tel: +44 (0) 20 7382 8300

Jon Belliss

 
   

Loeb Aron & Company Ltd.

Tel: +44 (0) 20 7628 1128

John Beresford-Peirse

 
   

IFC Advisory

Tel: +44 (0) 20 3053 8671

Tim Metcalfe

Graham Herring

Heather Armstrong

 

Editors’ note:

 

About Ariana Resources:

Ariana is an exploration and development company focused on epithermal gold-silver and porphyry copper-gold deposits in Turkey.  The Company is developing a portfolio of prospective licences selected on the basis of its in-house geological and remote-sensing database, on its own in western Turkey and in Joint Venture with Eldorado Gold Corporation in north-eastern Turkey.  Eldorado owns 51% of this joint venture and are fully funding all exploration work on the JV properties, while Ariana owns 49%.  The total resource inventory within this JV is 1.09 million ounces of gold.

The Company's flagship assets are its Kiziltepe and Tavsan gold projects which form the Red Rabbit Gold Project.  Both contain a series of prospects, within two prolific mineralised districts in the Western Anatolian Volcanic and Extensional (WAVE) Province in western Turkey.  This Province hosts the largest operating gold mines in Turkey and remains highly prospective for new porphyry and epithermal deposits.  These core projects, which are separated by a distance of 75km, are presently being assessed as to their economic merits and now form part of a Joint Venture with Proccea Construction Co.  The total resource inventory at the Red Rabbit Project stands at 475,000 ounces of gold equivalent.  

Beaufort Securities Limited and Loeb Aron & Company Ltd. are joint 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.