Initial JORC Resource at Tavsan

10/1/2008, 8:02 AM (Source: GlobeNewswire)
1 October 2008
AIM / PLUS Markets: AAU

INITIAL JORC RESOURCE AT TAVSAN

Ariana Resources plc ("Ariana" or "the Company"), the gold
exploration and development company focused on Turkey, is pleased to
announce its initial JORC resource estimate on the Company's Tavsan
gold prospect in Kütahya Province, western Turkey. The total
resource is now approximately 215,000 ounces of gold equivalent.
There is potential to expand the resource significantly and
additional drilling is scheduled.

Highlights


* SRK Consulting (UK) Ltd ("SRK") estimates a JORC compliant
Indicated Mineral Resource of 87,000 oz gold and an Inferred
Mineral Resource of 117,000 oz gold



* Global resource is 4,900,000 tonnes at an average gold equivalent
grade of 1.36 g/t: resource expected to be economically viable



* Additional drilling planned to add further resources to the
inventory



* Preparations underway for a scoping study on a 30,000 ounce p.a.
heap-leach operation


Dr. Kerim Sener, Managing Director, commented:

"This initial JORC resource for the Tavsan prospect is very
encouraging and demonstrates the potential of this project to grow
further. This resource statement, coupled with the good metallurgy,
confirms our expectation that Tavsan can be developed as a 1,000,000
tonne per annum heap-leach operation in the medium term.

"We are now planning a programme of drilling to further expand the
resource. There are large parts of the prospect that remain
un-drilled, yet there is clear potential for further resource
upside. We are committed to defining a commercially viable resource
at this location."

Resource Statement

SRK has completed a 3D geological model and mineral resource estimate
in compliance with the JORC code for the Main, Sivri and Satellite
zones of gold-bearing jasperoid at the Tavsan prospect. This
resource model has been developed from the original 43-101 compliant
resource of approximately 140,000 oz Au equivalent. The new JORC
resource reported on here is considered by SRK to be potentially
economically mineable.

Classification of the resource model is based on geological and grade
continuity, drill-hole spacing, in addition to the distance of
samples to blocks during interpolation. The majority of the current
resource is located within Main Zone, the north-eastern part of which
has been drilled with sufficient density to support an Indicated
Mineral Resource. Remaining parts of the Main Zone and the nearby
Sivri and Satellite zones are in the Inferred Mineral Resource
category.

SRK has placed a depth limit of approximately 30m and 50m for the
resource models on the Main/Sivri and Satellite zones respectively,
as most drill intersections are above this level and it is clear that
material below this level would not be extracted by open pit mining.
A historical cut-off grade of 0.7 g/t Au was applied, which reflects
the relatively flat lying nature of the mineralisation, and therefore
low stripping ratio, and the amenability of gold recovery by low cost
heap-leaching. Resource blocks measure 20m x 20m x 5m for the Main
and Sivri Zones and 50m x 50m x 15m for the Satellite Zone.

SRK Mineral Resource Statement


Classification Zone Tonnage Grade Metal *
(Ag
(Kt) (Au g/t) g/t) (oz Au) (oz Ag)

Indicated Main 1,700 1.6 4.2 87,000 229,000

Inferred Main & Sivri 1,300 1.0 3.6 42,000 153,000
Inferred Satellite 1,900 1.2 3.7 75,000 227,000

Indicated Total 1,700 1.6 4.2 87,000 229,000
Inferred Total 3,200 1.1 3.7 117,000 380,000


* Total metal equal to 214,694 oz gold equivalent. The gold
equivalent is calculated on the basis of a 50:1 price ratio between
gold and silver (this price ratio fluctuates and is dependent on
market conditions).

SRK has recommended additional drilling on the Main and Satellite
Zones and considers there to be good potential to upgrade the
Inferred Mineral Resources to Indicated Mineral Resources. Further
drilling in the Satellite Zone is expected to improve the
understanding of the morphology of the deposit, which should assist
with the delineation of additional Mineral Resources.

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 / Louise Davis

Loeb Aron & Company Ltd Tel: 020 7628 1128
Peter Freeman / Frank Lucas

Alexander David Securities Limited Tel: 020 7448 9820
Nick Bealer / David Scott



Editors' note:

Statement of Qualification

Martin Pittuck, MIOM3, C.Eng, a Principal Resource Geologist at SRK
with over 10 years experience in Mineral Resource estimation for gold
deposits, has overseen the preparation of this estimate. He is
considered to be a competent person for the purposes of reporting
Mineral Resources in accordance with the terminology and guidelines
given in the JORC Code.

Sampling and Assaying Procedures

Since purchasing the Tavsan Project from Odyssey Resources Limited
(Odyssey), Ariana have conducted check assaying of the Odyssey core
and RC chip samples. The check assaying has been used to verify the
historical data and to provide a level of confidence in the
historical QA/QC procedures. The close agreement between the
historic and the re-assay data suggests that the data can support a
JORC compliant resource estimate.

About the Tavsan Prospect

The Tavsan prospect is located within a cluster of ten-year renewable
operating licences that form part of the Company's 100% owned Tavsan
gold project in Balikesir Province, western Turkey.

Tasvan lies approximately 75km to the east-north-east of the
Company's Kiziltepe prospect. The prospect hosts over 4km in strike
length of gold-silver bearing jasperoid across an area of at least
4km by 4km. Individual segments of jasperoid are exposed at surface
for 500m and are up to 20m thick. The mineralised jasperoid is
located along a low-angle thrust fault separating underlying Jurassic
limestone from overlying Late Cretaceous ophiolitic rocks.

Ariana acquired the Tavsan Gold Project from Odyssey Resources
Limited (TSX-V: ODX) in May 2007. Teck Cominco Limited (NYSE & TSX:
TCK) retains the right to a royalty of up to 2% on future gold
production from the Tavsan gold project.

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
Copyright GlobeNewswire, Inc. 2016. All rights reserved.
You can register yourself on the website to receive press releases directly via e-mail to your own e-mail account.