Update on Sindirgi

2 April 2009 AIM / PLUS Markets: AAU UPDATE ON SINDIRGI ACTIVITIES TRIAL MINING & NEW DRILL PROGRAMME Ariana Resources plc ("Ariana" or "the Company"), the gold exploration and development company focused on Turkey, is pleased to provide an update of its operational activities at the Sindirgi Gold Project. Trial mining of the Arzu South vein is underway and a new drilling programme on two additional veins has commenced. The drilling programme is designed to test potential extensions to the existing resource. Dr. Kerim Sener, Managing Director, commented: "Trial mining has been underway at the Arzu South vein of the Kiziltepe deposit since mid-March. Grade-control of initial stockpiles has demonstrated higher than expected gold grades over the central portion of the vein. This provides a considerable boost to our confidence and the team is continuing to work to ensure a positive outcome from the trial. "Elsewhere on the Kiziltepe deposit, the Company has initiated drilling on two veins occurring to the west of Arzu South which have not been drill-tested effectively in the past. This drilling will lead towards a further drilling programme scheduled for the summer, which is designed to test for the continuity of the mineralised Arzu structure beneath cover." Trial Mining Trial mining activities commenced on schedule on Saturday 14th March. This involved the use of an excavator/rock-breaker to level surface outcrops, to create an initial stockpile of surface ore and to prepare the ground for grade-control drilling. Samples collected from surface material were analysed at the Eti Gümüs A.S. ("Eti") laboratory and confirmed continuity of grade along 100m of strike over the central portion of the vein. The results of these analyses have exceeded expectations of surface grade at Arzu South, recording an average of 7.6 g/t Au (max. 20.4 g/t Au, 220 g/t Ag; min. 1.8 g/t Au, 10 g/t Ag). Approximately 500 tonnes of this high-grade material is currently stockpiled at site. Grade-control drilling was undertaken on Friday 27th March. Nine grade control holes were drilled over 100m of strike to depths of 8 to 20m from which seventy-three 2m composite samples were collected and dispatched to the Eti laboratory for analysis along with standard and blank samples for quality control purposes. One half of each sample has also been retained by Ariana for independent analysis if necessary. The Company is also making use of a field-portable XRF (X-ray fluorescence) instrument to assist with on-site analyses of silver, which is being used as an effective proxy for gold grade, ahead of formal grade-control sampling. Drilling and blasting commenced on Wednesday 1st April and approximately 10,000 tonnes (representing 90m of strike) of material blasted simultaneously using ANFO explosives in 71 holes (24 rows). An estimated three days will be required to move the broken ore into stockpiles, during which further grade-control sampling will be undertaken. The first transport of ore to the Eti processing plant is expected on Thursday 9th April. New Drilling Ariana has commenced a new drilling programme on two previously untested veins (Vein 9 and Derya West) at the western end of the Kiziltepe prospect using its in-house drilling team. The programme is designed for a maximum of 300m of drilling for six shallow holes of 50m depth, although the programme can be extended dependent on assay results. As part of this programme, the Company has benefited from the input of Mr. Mehmet Ali Özkan who has 25 years of diamond-drilling experience in Turkey operating similar hydraulic rigs, and who is consulting to the Company on the further development of the in-house drilling team. This short drilling programme is being undertaken in advance of a further programme planned for the summer which will test several geophysical targets defined in areas under cover, notably in the Arzu area. The identification of a coherent resistivity and chargeability anomaly (from the 2008 geophysical programme) and other confirmatory geological work has demonstrated that a 650m long 'gap' between the Arzu South and North veins represents an opportunity for further resource expansion. Forestry applications have been submitted to secure permits in the area of ignimbrite cover between the two veins. Drilling in this area will test for the sub-surface continuity of the Arzu structure via several holes spaced 50m apart. The Company has flexibility to extend this programme. For announcement with graphics please follow this link: 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 / Libby Moss Alexander David Securities Limited Tel: 020 7448 9820 Nick Bealer / David Scott Loeb Aron & Company Ltd Tel: 020 7628 1128 Peter Freeman / Frank Lucas 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 Deposit The Kiziltepe deposit 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. The current JORC resource of 186,000 ounces gold equivalent is contained within the Arzu South, Arzu North, Banu and Derya veins. Kiziltepe lies approximately 130km west of the Gümüsköy silver mine, 100km east of the one million ounce vein-hosted Ovacik gold mine and 115km northwest of the five million ounce Kisladag gold mine. The deposit 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. On 5 March, 2009, Ariana announced that the trial production from Kiziltepe had commenced, and an agreement with Eti Gumus A.S. ("Eti") to process ore on a trial basis had completed. Gold produced from the operation will be divided on a 50-50 basis between the parties. Expected recovery of gold will be 85%, in line with the earlier test results detailed above. Silver recoveries will be considerably lower, as the silver grade of ore supplied to Eti is considered marginal for processing and, in any case, the Company has agreed that any silver obtained from the plant will be retained by Eti. Gold retained by Ariana will be refined at the Istanbul Gold Refinery or a suitable alternative. If this trial operation is deemed successful by both parties, Galata and Eti have determined to discuss a processing arrangement which would be governed by a new agreement. 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. The total resource inventory of the Company stands at 401,000 ounces of gold equivalent. 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/1302924/298328.pdf This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
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