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Strategy
The Company has dedicated much of its exploration effort on 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.
Within this province Ariana has one advanced development project (Red Rabbit Project) and a further two advanced exploration projects (Ivrindi and Demirci). The region surrounding the projects is named the WAVE Project Area, with our base of operations at Sindirgi located strategically at its core. Current resources held by the Company in the WAVE Project Area stand at 401,000 oz.
In addition to containing our advanced projects, the Project Area encompasses the majority of our exploration tenements in western Turkey. The exploration and development risk to future gold resources in this region is reduced due to excellent infrastructure and established local mining operations.
Ariana envisages that an aggregate resource of 1Moz of gold can be achieved within the Project Area and our strategy is designed to build on our existing resource base via exploration and future acquisitions.
In parallel to our resource development and exploration strategy in western Turkey, Ariana has joint ventured its exploration portfolio in northeastern Turkey to European Goldfields Limited. The Company also continues to evaluate new opportunities elsewhere in Turkey for acquisition or joint venture.
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