A Significant Gold Opportunity
With over 1Moz gold already defined, exploration at the Salinbas Gold Project has indicated the potential for the area to host significant large gold and base-metal mineralised systems.
The Salinbas Project represents a major opportunity for the future growth of Ariana.
The project comprises three notable prospects: Salinbas, Ardala and Hizarliyayla, all of which are located within a multi-million ounce goldfield. The “Hot Gold Corridor” contains several significant gold-copper projects including the 4Moz Hot Maden project which lies 16km to the south of Salinbas and 7km south of Hizarliyayla.
An emerging area of importance within Ariana’s licenced properties is the Ardala North target. The area shows consistent and strongly anomalous areas for copper, lead and zinc, which has significant potential for coincident gold and silver. In addition, Ariana’s Hizarliyayla is partially hosted within the same stratigraphic sequence as this globally significant discovery.
- Substantial exploration upside - RNS 5 September 2017 Exciting Results Across Hot Gold Corridor
- Ardala North target has been prioritised for immediate work as it demonstrates significant multi-element anomalism and the potential for gold-silver mineralisation.
- Existing project area contains Indicated and Inferred JORC resource of ~1Moz Au equiv.
- Salinbas contains approximately 10Mt Indicated and Inferred JORC resource, with an average grade of 2.0 g/t Au and 10.2 g/t Ag
- Ardala contains approximately 16Mt Inferred JORC gold resource with a grade of 0.6 g/t gold, copper (up to 0.2%) and molybdenum (up to 0.01%) domains
- Scoping study complete with further revisions underway
Scoping Study Summary*
|Mine Life:||10 years|
|Production Rate:||50,000 oz Au eq. p.a.|
|JORC Resource:||9.96Mt for 650,000 oz Au
(Inferred & Indicated)
|In-pit Grade:||2.0 g/t Au; 10.2 g/t Ag|
|Net Present Value (8%):||US$108M|
|Internal Rate of Return:||28%|
|Payback:||3.3 years on US$53.3M initial capital|
|Royalty:||State Right and 2% NSR to Eldorado Gold|
The Salinbaş Project area currently consists of two main mineralised zones; the Ardala Porphyry and the Salinbaş Au-Ag deposit. The Ardala Copper-Gold-Molybdenum (Cu-Au-Mo) porphyry is the larger of the two zones, but Salinbaş contains the higher and more consistent grades. Salinbaş represents a high-grade replacement-type epithermal gold deposit. In outcrop, mineralisation is associated with a zone of brecciation within a structural corridor, which appears to trend toward the Ardala porphyry two kilometres away. The discovery was revealed in a series of trenches, and in two successive follow-up drilling programmes. Gold mineralisation at Salinbaş is typically represented as heavily oxidised and limonitised clay rich limestone breccias with minor silicification and localised copper and molybdenum enrichment.
The Artvin district is located in North Eastern Turkey and constitutes part of the Eastern Pontides province. The oldest rocks exposed in the area are Early Carboniferous granites that regionally intrude schists and gneisses. The metamorphic basement units are unconformably overlain by a volcano-sedimentary unit containing andesites with intercalations of limestone and marl lenses, bedded limestones; sandstone, marl and tuff–tuffite. These lithologies are covered by hornblende–andesites cut by a microdiorite intrusion and associated andesitic–dacitic porphyries.
Intrusions of the porphyries caused replacement fronts along re-crystallised limestone and porphyry contacts. This type of mineralisation is enriched in Mn, Zn, Cu, Au and Ba present in Fe- and Mn-oxides, pyrite, chalcopyrite, sphalerite and lesser bornite, sulphosalts and native gold. These replacement fronts are similar in nature to skarn mineralisation, but were developed at much lower temperatures than skarns.
Exploration in the Salinbaş district has progressed from reconnaissance rock-chip sampling to more systematic sampling, followed by detailed geophysical work, trenching, and later exploration diamond drilling. To date a series of diamond drilling programmes have been completed, providing sufficient data for the completion of a JORC resource estimate.Click the years below to reveal timeline detail.
2016Ariana acquires 100% of the Salinbas Project for an NSR royalty of up to 2% of future production to Eldorado Gold.
2015Completion of scoping study, based on a 650,000 oz Au open-pittable resource, mining at a rate of 50,000 oz per annum over 10 years.
20134,000m diamond drilling program commenced on the Salinbaş Zone and its extension towards the Ardala porphyry.
2010A series of exploration trenches were excavated - discovery of the Salinbas Zone.
2009A phased program of diamond drilling on the Ardala system.
2008Ariana completes a JV agreement with European Goldfields (now Eldorado Gold). Systematic soil and rock-chip sampling programmes are completed across the region.
2007The Ardala porphyry project was acquired by Ariana.
- Anglo-Tur completed a 13 hole diamond drilling programme.
- Stream-sediment and rock-chip sampling.
- Anglo-Tur Mining Company identified an extensive hydrothermal alteration zone using 1/50,000 Landsat imagery.