Metallurgical Results

Ariana Resources PLC 21 August 2007 21 August 2007 AIM / PLUS Markets: AAU METALLURGICAL RESULTS: KIZILTEPE Ariana Resources plc ('Ariana' or 'the Company'), the gold exploration company focused on Turkey, is pleased to announce the results of the first metallurgical testwork conducted on material from the Kiziltepe Prospect. The results of these tests keep open the full range of options for the processing of material from Kiziltepe. A scoping study on potential mining and treatment options will be addressed following an upcoming RC drilling program which aims to extend and upgrade the existing resource. Highlights •Mineralisation is amenable to both carbon-in-leach and heap-leach processing options •Carbon-in-leach simulation tests yielded gold and silver recoveries of 92-98% and 87-92% respectively •Heap-leach simulation tests yielded gold and silver extraction levels of up to 81-90% and 65-77% respectively •Ball mill grindability determined a bond work index of 14.2-15.8 kWh/ tonne Dr. Kerim Sener, Managing Director, commented: 'These metallurgical results are extremely encouraging and compare very favourably with those obtained from similar deposits in Turkey which are already in production. The results indicate that all of our options for processing of material from Kiziltepe remain open. We are evaluating strategies for the further development of the deposit, with on site processing via heap-leach or toll-treatment at an existing carbon-in-leach processing facility under investigation.' 'We are now undertaking the groundwork required for our scoping study and making preparations for trial mining of the Arzu vein at Kiziltepe. The scoping study will utilise various data, including these metallurgical test results, to determine the optimal route for the economic development of the Kiziltepe prospect. Preparations are also underway for further resource definition drilling at several veins on the prospect, with the aim of increasing and refining our existing resource.' Testwork Summary Metallurgical testwork was undertaken on four composite samples of mineralised material sent to the SGS Lakefield laboratory in Canada. The samples selected for testwork were collected from surface and drill-core from the Arzu South Vein and represent a range of mineralisation types with varying levels of oxidation, total sulphide content and gold/silver ratio (Table 1). The gold grade of the samples is within the range of grades determined by the recently announced JORC resource estimate for Kiziltepe. The purpose of the metallurgical testwork was to determine, via several simulation tests, the amenability of the Kiziltepe 'ore' to carbon-in-leach and heap-leach processing. Carbon-in-leach simulation tests were conducted to determine the recovery of gold and silver from the samples and give the maximum extractability at a specified grind size (approximately 53 microns). These tests yielded gold recoveries ranging from 92% to 98% and silver recoveries ranging from 87% to 92% (Table 1). The consumption of reagents in solution was moderate. These results prove that the mineralisation is amenable to a conventional carbon-in-leach processing flowsheet. Coarse bottle-roll tests at minus 1/4 inch and minus 10 mesh particle size were performed to determine the amenability of the samples to heap-leaching (Table 1). The simulation tests at minus 10 mesh resulted in gold recoveries of 81% to 90% and silver recoveries of up to 65% to 77%. The gold content of the residues from tests conducted on the minus 10 mesh material ranged from 0.6 g/t Au to 1.05 g/t Au. The results are likely to be acceptable for a heap-leach operation. Ball mill grindability tests were performed at a grind of 150 mesh on the four composite samples (Table 1) to determine the energy requirements for grinding Kiziltepe 'ore'. Results for the four samples fall into the intermediate range of hardness and compare favourably with that at similar deposits. Table 1: Summary of results of the metallurgical testwork on Kiziltepe mineralisation. 1) Carbon-in-leach simulation tests were undertaken over 48 hours. 2) Heap-leach simulation results shown here are those for minus 10 mesh over 14 days. Heap-leach simulation results for 1/4 inch mesh were 61-78% for gold and 41-50% for silver. +--------------------------------+-----------------+-----------------+ | |Carbon-in-leach |Heap-leach | | |Simulation1 |Simulation2 | +------+------+------+----+------+--------+--------+--------+--------+ |Sample|Gold |Silver|Ag: |Bond |Au |Ag |Au |Ag | | |(g/t) |(g/t) |Au |Work |Recovery|Recovery|Recovery|Recovery| | | | | |Index |(%) |(%) |(%) |(%) | | | | | |kWh/t | | | | | +------+------+------+----+------+--------+--------+--------+--------+ | 1 |7.53 |52.5 | 7 |15.8 | 97.2 | 87.8 | 88.1 | 66.2 | +------+------+------+----+------+--------+--------+--------+--------+ | 2 |5.84 |44.1 | 8 |15.3 | 98.2 | 87.2 | 89.5 | 66.3 | +------+------+------+----+------+--------+--------+--------+--------+ | 3 |4.76 |94.1 |20 |15.1 | 95.6 | 86.9 | 80.7 | 65.4 | +------+------+------+----+------+--------+--------+--------+--------+ | 4 |5.34 |25.1 | 5 |14.2 | 91.9 | 91.6 | 84.3 | 76.8 | +------+------+------+----+------+--------+--------+--------+--------+ SGS Lakefield concludes: 'The Kiziltepe project ore samples responded well to conventional carbon-in-leach processing... The heap-leach simulation tests...resulted in extractions that will likely be acceptable for a heap-leach operation.' Contacts: Ariana Resources plc Michael Spriggs, Chairman Kerim Sener, Managing Director Tel: 0207 407 3616 info@arianaresources.com Beaumont Cornish Limited Tel: 0207 628 3396 Roland Cornish Bankside Consultants Michael Padley / Louise Davis Tel: 0207 367 8888 Editors' note: About Ariana Resources Ariana is a dynamic exploration company focused on the discovery and development of epithermal gold-silver and porphyry copper-gold deposits with multi-million ounce potential within the Tethyan metallogenic belt of Turkey. The Company has a portfolio of prospective licences covering 1,820km2, selected on the basis of its advanced in-house remote sensing database. The Company's flagship asset is the 235km2 Sindirgi Gold Project, which targets a series of prospects, within a prolific mineralised district in western Turkey. The project hosts over 45km of gold-silver bearing epithermal quartz veins. Ambrian Partners Limited and King & Shaxson Capital 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 This information is provided by RNS The company news service from the London Stock Exchange
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