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Ariana Resources adds lithium to its portfolio and reports gold deposits at its Turkey Kiziltepe mine

Ariana Resources, Turkey based miner developer, addressing the investors reported that beside lithium exploration it has found significant gold deposits at its Turkey based Kiziltepe mine.

Ariana Resources set a course for lithium exploration in Western Australia and Turkey. The company initially took a significant step in Australia to explore lithium which occurs in conjunction with gold in many geological environments.

Supported by

Asgard Metals Pty. Ltd, the Australian subsidiary of Ariana has completed a joint agreement to vend a package of tenements in the Pilbara region of Western Australia to Dakota Minerals Limited as part of a broader deal involving Slipstream Resources Group. Asgard will own approximately 8% of Dakota when the conditions of the agreement is eventually completed.

According to the announcement of Ariana, this package of tenements contains part of an extensive lithium-tantalum bearing pegmatitic dyke swarm, which was recognised recently as containing the second-largest hard-rock (spodumene) lithium resource in the world.

Dr. Kerim Şener, Managing Director of Ariana stated, “We see significant, long-term value in lithium as a technology metal with numerous and increasing commercial applications, which is found coincidentally within several gold provinces world-wide.  As part of this strategy, Asgard secured the rights to a premier exploration area for lithium in Western Australia and has been looking to commercialise this opportunity within the short-term.  To have been able to successfully vend this project in to Dakota with the support of Slipstream, in such a short time frame is an excellent outcome for our shareholders”.

Ariana reported also that it has found noteworthy gold grades at a potential satellite deposit for the under-construction Kiziltepe mine in Turkey . A drill and rock sampling programme at Kizilcukur, 22km north east of Kiziltepe, indicated gold grades of 7.6 g/t and 3.5g/t up to 60m below the surface with notable silver as well.The highest grades were at depths of up to 30m.

Kizilcukur has potential to become a higher-grade satellite operation for Kiziltepe, according to Kerim Sener, Ariana’s managing director, who said the fact that highest grades were found nearest the surface would help an open pit operation.

Future drilling will need to concentrate on a specific level within the vein system to demonstrate the full strike potential of this resource area,” he added.Ariana owns 100% of the Kizilcukur, while Kiziltepe is being developed as joint venture with Turkish partner Proccea. The current plan for Kiziltepe is to produce 20,000 ounces gold equivalent over eight years but exploration success in surrounding areas such as Kizilcukur may boost this mine life.

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