Ariana Resources plc (AAU)

Ariana Resources plc (AAU)

Ariana Resources plc (AAU) - Licence Acquistions and Transfers Update

Ariana Resources plc, the gold exploration and development company focused on Turkey, announces that it has acquired new exploration ground in the vicinity of its main projects and that licence transfers are complete on six core licences for the Tavsan project. 

Highlights:
• Nine new licences acquired in western Turkey
• Six licences transferred for the Tavsan project
• Total ground-holding at approximately 1050 km2, excluding JV licences in eastern Turkey

Dr. Kerim Sener, Managing Director, commented:
“The acquisition of new ground helps us to build our exploration portfolio within the WAVE project area, in which we are expecting to delineate a resource of 1 million ounces of gold in the coming years.  The completion of the first phase of licence transfers for the Tavsan project allows the Company to begin formal work on the project, with the aim of demonstrating its evident resource potential. 

“Following our recent dealings on the Tavsan project, our licence portfolio in western Turkey is now even more focused on the WAVE project area, which enables an ease of logistics and better use of our human and financial resources.  The Company holds some of the best exploration properties in western Turkey and we look forward to developing our licence portfolio and target stream yet further.”

For more information please go to: www.arianaresources.com

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