Skip to Content

Ariana Resources targeting a 1Moz gold JORC Resource at Salinbas (AAU)

It’s been a good year for shareholders in Arian Resources (LSE:AAU). The recent rally in the gold price has helped bolster the company’s share price, which is now up 50% this year at 2.25p per share. Gold production at the low cost Kiziltepe mine in western Turkey continues to increase and the firm has embarked on exploration campaigns at its other assets. Of these perhaps the project that holds the most potential is at Salinbas and on Thursday the firm announced positive preliminary drill results here.

Ariana originally acquired Salinbas from Eldorado Gold Corporation (NYSE:EGO), which retains a 2% net smelter royalty over future revenue. The project is located in north-eastern Turkey and already hosts a 650,000oz (Indicated and Inferred) JORC Resource. Ariana’s exploration target here is 1.4M to 2.7M ounces of gold and the company ultimately aims to be able to prove up a final JORC of 1Moz.

This article was originally published on our sister site ValueTheMarkets.com, to read it in full please click here.

Valuethemarkets.com and Dynamic Investor Relations Ltd are not responsible for the content or accuracy of this article.  News and research are not recommendations to deal, and investments may fall in value so that you could lose some or all of your investment. Past performance is not an indicator of future performance.

  • Ben Turney does not hold any position in the stock(s) and/or financial instrument(s) mentioned in the piece.
  • Ben Turney has been paid to produce this piece by the company or companies mentioned above.
  • Dynamic Investor Relations Ltd, the owner of ValueTheMarkets.com, owns a position in the stock(s) and/or financial instrument(s) mentioned in the piece.
  • Dynamic Investor Relations Ltd, the owner of ValueTheMarkets.com, has been paid for the production this piece by the company or companies mentioned above.

Related Articles

Headlines

teathers app screenshot

App Empowering Private Investors

Crowd Equity for Placings, IPOs and Live Market Blockbuilds, designed to give provate investors access to placements and Intial Public Offerings (IPOs), predominantly on the London Stock Exchange’s Alternative Investment Market (AIM).