Ariana Resources Red Rabbit Results Show Gold Deposit

2nd Aug 2010 07:37

LONDON (Dow Jones)--Ariana Resources PLC (AAU.LN), a gold exploration and development company focused on Turkey, said Monday that the results from the twenty-six most recent Reverse Circulation drill holes at the Kiziltepe gold deposit show Gold-equivalent intersections of 12.28 g/t over 2 meters, 4.59 g/t over 14 meters and 3.31 g/t over 11 meters. MAIN FACTS: -Peak gold-equivalent grade of 23.12 g/t over 1 million. -Significant mineralization intersected on all holes drilled. -Exploratory drilling in area under cover between Arzu South and Derya intersects buried vein system. -The company is now confident that a vein system is fully developed between the Derya and Arzu South veins, which could add another 580 meters of mineralized strike to the deposit. -Shares closed Friday at 2.15 pence, valuing the company at GBP4.77 million. -By Razak Musah Baba, Dow Jones Newswires; 44-20-7842-9275; [email protected] (END) Dow Jones Newswires August 02, 2010 02:37 ET (06:37 GMT)