Quarterly Update to Shareholders
(Thomson Reuters ONE) -
25 January 2011
AIM / PLUS Markets: AAU
QUARTERLY UPDATE TO SHAREHOLDERS
Ariana Resources plc ("Ariana" or "the Company"), the gold exploration and
development company focused on Turkey, is pleased to announce that it has
released its Q4 2010 Quarterly Update to shareholders on the Company's website.
Highlights
* RESOURCE INCREASE: Announcement of a 25% increase in JORC compliant
resources to 448,000 oz Au equivalent.
* SHAREHOLDING: Following the purchase of 500,000 ordinary shares in Ariana,
Starvest plc is now the beneficial holder of 13,456,000 ordinary shares or
6.06% of the issued share capital.
* INVESTMENT IN TIGRIS RESOURCES: Announcement of a strategic investment in
Tigris Resources Limited, a private company focused on gold and copper
exploration in south-eastern Turkey.
* RESULTS FROM JV PROPERTIES: Exploration results from the European Goldfields
JV identify zones of wide and high-grade mineralisation at Salinbas and the
discovery of a mineralised extension of the Ardala porphyry beneath cover.
* RED RABBIT JV UPDATE: Ariana announce an increase to the registered capital
of Zenit Madencilik San. ve Tic. A.S., the JV company held by Ariana and
Proccea Construction Co. in Turkey.
To view a full version of the Quarterly Update, please visit the Company's
website atwww.arianaresources.com.
Contacts:
Ariana Resources plc Tel: +44 (0) 20 7407 3616
Michael Spriggs, Chairman
Kerim Sener, Managing Director
Beaumont Cornish Limited Tel: +44 (0) 20 7628 3396
Roland Cornish
Alexander David Securities Limited Tel: +44 (0) 20 7448 9820
Nick Bealer / David Scott
Loeb Aron & Company Ltd Tel: +44 (0) 20 7628 1128
Jonathan Willis-Richards / Frank Lucas
St Brides Media & Finance Ltd Tel: +44 (0) 20 7236 1177
Hugo de Salis
Susie Geliher
Editors' note:
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 a
Joint Venture with European Goldfields Limited in north-eastern Turkey.
European Goldfields owns 51% of this joint venture and, as the operator, is
fully funding all exploration work on the JV properties until delivery of a
feasibility study.
The Company's flagship asset is the Red Rabbit project, which contains the
Kiziltepe and Tavsan sectors. The project contains 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. The Kiziltepe and Tavsan sectors, 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 of the Company stands at 448,000 ounces of gold equivalent.
Ariana also has a strategic investment in Tigris Resources Limited
(www.tigrisresources.com), a private Jersey-based exploration company, which is
focused on the exploration of copper and gold deposits in southeastern Turkey.
Ariana retains 15% of Tigris Resources Limited.
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
atwww.arianaresources.com.
Ends
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Ariana Resources plc via Thomson Reuters ONE
[HUG#1482360]
Unternehmensinformation / Kurzprofil:
Datum: 25.01.2011 - 16:15 Uhr
Sprache: Deutsch
News-ID 50723
Anzahl Zeichen: 5190
contact information:
Town:
London,
Kategorie:
Business News
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"Quarterly Update to Shareholders"
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