Management Quote: "The Ivrindi Project was our first grassroots exploration discovery. We are pleased to have progressed this project successfully to the drill-stage at the Kinik prospect. We are encouraged by the consistency of grade and by the width of the mineralised zone defined to date by surface sampling at this prospect."
Summary
The Ivrindi Gold project is owned 100% by Ariana and encompasses one principle prospect which is summarised below:
Kinik - 750m x 50m gold in soil anomaly occurring above altered andesitic rocks. Channel sampling of in-situ rocks yielded 3.21 g/t over 10m and 3.09 g/t over 5m. This area was drilled in 2007.
Location and Infrastructure
The Ivrindi Gold Project is located in the Ivrindi District of Balikesir Province in western Turkey. The project comprises 7 exploration licences covering a total area of 91km2. The Project area lies approximately 70km from Sindirgi and 70km northeast of the one million ounce vein-hosted Ovacik gold mine and 180km northwest of the five million ounce Kisladag gold mine.
The project area is serviced by a high-quality network of sealed district roads and un-sealed village roads.
Figure showing the location of the project and the position of the key prospects.
Exploration Highlights
Reconnaissance rock-chip sampling identified the prospect area with peak values of 5.32 g/t Au and 1.46 g/t Au.
Follow-up channel sampling along a single road-cut identified 48m of mineralisation, with higher grade sections of 3.21 g/t over 10m, 3.09 g/t over 5m and 1.4 g/t over 13m (using a 0.5g/t Au cut-off) and a peak grade of 10.42 g/t.
Soil sampling defined an extensive and coherent east-west trending gold in soil anomaly of 750m by 50m. 9% of the 230 samples collected returned values above 0.1 g/t Au and the peak soil value was 1.22 g/t Au.
Drilling has provided intersections of 1.41 g/t Au over 6.2m, 4.17 g/t Au over 1.9m and 4.91 g/t Au over 1.7m.
Geological Outline
Kinik
The prospect contains a 1500m by 500m wide zone of argillically altered Lower Miocene andesitic volcanic rocks which were initially located in Landsat imagery. The altered and mineralised area has since been well-defined by geological mapping, channel and rock-chip sampling.
In places, the andesitic units are juxtaposed by steeply dipping normal faults against Permo-Traissic limestones. The contacts between these units are marked by 5-10m wide fault breccias and much of the alteration and mineralisation occurs immediately adjacent to these faults. The mineralisation appears to be disseminated finely within the altered andesitic units.
Economic Potential
No geological resource model for the Kinik prospect has been compiled. The drilling of the Kinik prospect was designed to test the strike and depth continuity of the mineralised zone as defined by soil geochemistry. A formal JORC resource estimate may be constructed on the basis of additional drilling and geological modelling if coherent geological continuity can be demonstrated across and along the mineralised zone.
