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CONSTRUCTION COMMENCES AT KIZILTEPE
Ariana Resources, the Anglo-Turkish gold exploration and development company focused on Turkey, has announced that mine construction has commenced at the Kiziltepe Sector of the Red Rabbit Gold Project in western Turkey, which is being developed in partnership with Proccea Construction Co., to deliver its first gold pour in H2 2016.
– Forestry Department currently clearing land within the permitted areas of the mine site and freehold land acquisitions essentially completed.
– Final negotiations on major Turkish supplied plant components are complete and long lead orders have been placed.
– Mining contractor has been assigned and is currently expected to commence site-works in October 2015.
– Installation of the perimeter security fence for the mine site is underway and four prefabricated buildings are now complete and awaiting delivery to site.
– Ariana drill-rig mobilised this week to commence drilling at the foundation site of the process plant.
Dr. Kerim Sener, Managing Director, commented:
“We are exceptionally pleased to report that the construction phase of the 20,000 ounce per annum Kiziltepe Gold Mine has now commenced. Our partners, Proccea, are working diligently and swiftly through the mine construction schedule. Meanwhile our exploration team is preparing for a resource development trenching and drilling programme, which we are currently expecting to commence in October 2015. This is an exciting time for the Company and recent developments have highlighted the value of our business model: promoting project development partnerships cored by focused and cost-efficient exploration.
“We look forward to providing further guidance on construction progress and the timeline to first gold-pour in due course. We are currently expecting first production to commence in H2 2016.”
