Geophysical Results

17 September 2008 AIM / PLUS Markets: AAU ARIANA RESOURCES plc GEOPHYSICAL RESULTS: KIZILTEPE Ariana Resources plc ("Ariana" or "the Company"), the gold exploration and development company focused on Turkey, is pleased to announce the results of a geophysical programme conducted on the Kiziltepe Gold Prospect. The programme has been successful in defining several new exploration targets and has identified a number of probable vein systems that are not exposed at surface. Highlights: * Several high-resistivity anomalies (potential vein systems) identified at depth or beneath cover * Large high-chargeability anomaly (potential disseminated sulphide mineralisation) identified in the southwest part of the prospect * Geophysical data to aid in the design of a new drilling programme Dr. Kerim Sener, Managing Director, commented: "The results of this geophysical programme, which was carried out following an earlier successful trial on the Arzu vein, have highlighted even further potential upside on the Kiziltepe prospect. Although their presence was long suspected, there is now clear physical evidence of likely buried vein systems at the prospect. The 20km of veins we have identified at surface now appear to be part of a broader interlinked system of structures at depth. "We are very excited by these results and are convinced that further exploration, in particular drilling, will yield further discoveries. We are entering a new phase of exploration at Kiziltepe and our scope for identifying further resources has increased substantially." Geophysical Programme The geophysical programme described here was undertaken over a 2km2 area covering the main Kiziltepe vein field and included all of the veins contained by the existing resource estimate. The programme follows the successful trial, earlier in the year, of the geophysical method over the Arzu South vein. Data was collected from nine northeast-southwest oriented Induced Polarisation (IP) / resistivity profiles, which were spaced 175-240m apart and designed to coincide directly with existing geochemical data lines (total length surveyed is approx. 11km). A pole-dipole array was used with a 30m electrode spacing, using a Scintrex TSQ-3 transmitter and a IPR-12 receiver operating in the time domain. Several high chargeability and high resistivity anomalies were identified in the two-dimensional inversion models, which are interpreted to coincide with zones containing vein systems and their related alteration. Zones with resistivities greater than 300 Ohm.m and chargeabilities greater than 15mV/V were identified as explicit anomalies, while 100-300 Ohm.m and 10-15 mV/V ranges were identified as possible anomalies. In plan, the distribution of both high resistivity and chargeability anomalies is broadly coincident across two distinct regions; one in the Arzu North to Arzu South area, in the northeast, and the other in the Banu and Vein 7 area in the southwest. In detail, several linear resistivity anomalies are identifiable in plan which do not coincide with known veins and may represent new vein systems at depth. The anomalies in the Arzu South to Arzu North area are interesting because they identify a steeply dipping structure (interpreted to represent the Arzu vein system) and a new moderately dipping structure beneath ignimbrite cover (Figure 1). Both steeply and moderately dipping anomalies show typical resistivities in the range of 300-700 Ohm.m. The moderately dipping feature is a high-priority drilling target as it may represent a different style of vein-type mineralisation controlled by stratigraphy. The anomalies in the Banu and Vein 7 area identify several parallel resistivity features, not all of which correspond to known veins, and the chargeability anomaly is consistently wide and unbroken across the profiles and in the range of 15-30 mV/V (Figure 1). The latter feature suggests an abundance of disseminated sulphide mineralisation, which is atypical of the known mineralisation at the Kiziltepe prospect, and is more typical of porphyry alteration systems. The feature is an obvious drilling target. Further interpretation of the geophysical data in parallel with geological and geochemical datasets will be undertaken prior to planning a new drilling programme. Expert advice may be sought during the interpretation of this data to ensure the programme designed is robust. The current drilling programme has been put on hold until this new interpretation is completed. Please see the link at the end of this announcement for figure 1 showing an inverse model resistivity (top) and chargeability (bottom) profiles on Line 7 viewed looking to the southeast. The left-hand side of the sections correspond to the continuation of the Arzu structure beneath ignimbrite cover and identify a moderately dipping anomaly at a depth of 50-100m below surface. The high chargeability anomaly containing several steeply dipping resistivity features on the right-hand side is an obvious drilling target. Contacts: Ariana Resources plc Tel: 020 7407 3616 Michael Spriggs, Chairman Kerim Sener, Managing Director Beaumont Cornish Limited Tel: 020 7628 3396 Roland Cornish Lothbury Financial Tel: 020 7011 9411 Michael Padley / Louise Davis Loeb Aron & Company Ltd Tel: 020 7628 1128 Peter Freeman / Frank Lucas Alexander David Securities Limited Tel: 020 7448 9820 Nick Bealer / David Scott Editors' note: 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 Southern Africa and Australia. He has read and approved the technical disclosure in this regulatory announcement. About the Kiziltepe Prospect The Kiziltepe prospect is located within a ten-year renewable operating licence that forms part of the Company's 100% owned Sindirgi gold project in Balikesir Province, western Turkey. Kiziltepe lies approximately 100km east of the one million ounce vein-hosted Ovacik gold mine and 115km northwest of the five million ounce Kisladag gold mine. The prospect hosts over 20km in strike length of gold-silver bearing low-sulphidation epithermal quartz veins across an area of at least 3km by 1km. Individual veins are exposed for up to 750m and widths vary between 1m and 14m. The main veins trend northwest, dip to the northeast and are hosted within Miocene age dacitic volcanic rocks. Ariana acquired the Sindirgi Gold Project from Newmont Mining Corporation (NYSE & ASX: NEM; TSX: NMC) in March 2005. Franco-Nevada Corporation retains the right to a royalty of up to 2.5% on future gold production from the Sindirgi gold project. 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 exploring 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 European Goldfields Limited in north-eastern Turkey. The Company's flagship assets are its Sindirgi and Tavsan gold projects. Both projects 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. Loeb Aron & Company Ltd. and Alexander David Securities Limited 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. Ends ---END OF MESSAGE--- http://hugin.info/138153/R/1251989/272358.pdf
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