Ariana Resources PLC Ariana Resources Plc : Lithium Investment Update
26 April 2016 - 8:13PM
UK Regulatory
TIDMAAU
26 April 2016
AIM: AAU
DAKOTA - LYNAS FIND LITHIUM PROJECT UPDATE
Ariana Resources plc ("Ariana" or "the Company"), is pleased to provide
an update on the exceptional drilling results from its 7.64% strategic
investment in Dakota Minerals' Lynas Find Lithium Project, in the
Pilgangoora region of Western Australia. The results included 35m @
2.1%, 35m @ 1.75% and 40m @ 1.52% Li(2) O, with an overall weighted
average grade of 1.75% Li(2) O. These results confirm the continuation
of the Pilgangoora system, now the second largest hard rock lithium
deposit in the world, into Dakota's Lynas Find Lithium Project.
Full details of the announcement included details of the drilling
programme and highlights can be found through the following link:
http://dakotaminerals.com.au/index.php/asx-announcements/2016/download?path=1547787.pdf
Dr. Kerim Sener, Managing Director, commented:
"Our team are highly encouraged by Dakota Minerals' excellent maiden
drilling results on the Lynas Find project in the Pilgangoora region of
Western Australia. In the interests of Ariana's shareholders, we are
leveraging our exploration targeting capabilities and our ability to
commercialise new project opportunities outside of the gold sector. The
synergy between global gold bearing systems and those of the emerging
and highly exciting technology-metals sector are proving to be an
excellent fit for the company.
The Ariana team is continuing to identify further technology-metals
projects, with a special focus on lithium. We expect to commercialise
these projects according to the model applied to Dakota Minerals."
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
Editor's Notes
Competent Person:
Dr Kerim Sener, BSc (Hons), MSc, PhD, is the Managing Director of Ariana
Resources plc. A graduate of the University of Southampton in Geology,
he also holds a Master's degree from the Royal School of Mines (Imperial
College, London) in Mineral Exploration and a doctorate from the
University of Western Australia. He is a Fellow of The Geological
Society of London and has worked in geological research and mineral
consultancy in Africa, Australia and Europe. He has read and approved
the technical disclosure in this regulatory announcement.
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.
This announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the information
contained therein.
Source: Ariana Resources plc via Globenewswire
HUG#2006805
http://www.arianaresources.com/s/Home.asp
(END) Dow Jones Newswires
April 26, 2016 06:13 ET (10:13 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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