Ariana Resources completes initial exploration at 'Hot Gold Corridor' project
Ariana Resources announced on Tuesday that it had completed an initial exploration programme at its wholly-owned Salinbas gold project in northeast Turkey.
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In what it calls the "Hot Gold Corridor" due to its proximity to the 4m ounce Hot Maden deposit just 4km south of Ariana's licence, the firm said it located multiple high priority geochemical targets, some of which showed further potential as "Salinbas-type" epithermal mineralisation and systems akin to copper-gold porphyries.
Targets between Hizarilyayla and Salinbas had further exploration planned, but the Ardala North target was tapped for immediate commencement as it demonstrated a considerable multi-element anomalism with the potential for gold-silver mineralisation.
Further geochemical sampling has begun on several new target zones.
"These exciting initial results confirm our understanding of the potential of the Hot Gold Corridor to contain significant gold and base-metal dominant mineralised systems,” said Ariana managing director Kerim Sener.
“In particular, the Ardala North target, covering an area of 1.5 x 0.5 km, now represents one of the most strongly and consistently anomalous areas for copper, lead and zinc within the project, with significant potential for coincident gold and silver.”
As of 1310 BST, shares had edged forward 3.21% to 1.45p.