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Red Rabbit Project
Management Quote: "The Red Rabbit project is a single integrated project comprising Ariana's principal Kiziltepe and Tavsan prospects. Both Kiziltepe and Tavsan are located in a prolific mineralised district with Measured Indicated and Inferred resources of 401,000 oz Au.
Following successful trial mining, and gold pour in 2009 the Company intends to fast track this project into production by 2012."
In 2009 Ariana combined the Kiziltepe and Tavsan projects into a single integrated development project. The aim is to fast track Red Rabbit into production by 2012, following successful trial mining and feasibility study carried out in 2009.
Red Rabbit Project Highlights:
- June 2009: First gold pour following trial mining at the Arzu South vein at Kiziltepe. A total of 5,177 tonnes of dry ore was processed with a total gold production of 387 ounces.
- October 2009: MoU with Proccea Construction Co. to develop Red Rabbit. Proccea have made a $500,000 USD good-will payment to Ariana, currently held in escrow pending MoU completion. Proccea will fund $8m USD for an Environmental Impact Assesment (EIA), Feasibility Study and the development of the processing plant.
- February 2010: Positive results from an economic scoping study on Kiziltepe show the potential for one central pit on Arzu South with satellite pits at Banu, Derya, Arzu North and Kepez.
- Mine life > five years
- Cash cost US $350-400/oz
- Production rate 150,000 tonnes/annum
- In pit resource 1.4--1.7 million tonnes
- In pit grade 3.5--4.5 g/t Au 50--70 g/t Ag
- Au recovery ~90%
- Ag recovery ~80%
- Strip Ratio 8:1-12-1
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