Ariana Resources (AAU)

Sector:

Mining

Index:

FTSE AIM All-Share

 2.55p
   
  • Change Today:
      0.000p
  • 52 Week High: 3.10
  • 52 Week Low: 1.63
  • Currency: UK Pounds
  • Shares Issued: 1,834.18m
  • Volume: 164,593
  • Market Cap: £46.77m
  • RiskGrade: 232
  • Beta: 0.38

Ariana reports promising new drilling results from Salinbas

By Josh White

Date: Wednesday 28 Aug 2024

LONDON (ShareCast) - (Sharecast News) - Mineral explorer and developer Ariana Resources released new drilling and geophysical survey results from the Hizarliyayla area within its Salinbas Project in Turkey on Wednesday.
The AIM-traded firm said the findings suggested potential mineralisation similar to the world-class Hod Maden deposit, located to the south.

Recent drilling at Hizarliyayla, 100% owned by Ariana's joint venture company Zenit, yielded promising results including 0.5 metres at 3.96 grams of gold and 28.65 grams of silver per tonne from a depth of 540.5 metres in hole HZR010, and 0.7 metres at 1.16% copper, 0.72% lead, and 29.39 grams of silver per tonne from 293.3 metres at HZR009.

It also highlighted 1.15 metres at 0.76 grams of gold and 22.09 grams of silver per tonne, and 1.46% zinc, from 300 metres, and 0.45 metres at 1.59 grams of gold and 47.28 grams of silver per tonne from 644.8 metres, both at HZR009.

The company also reported 0.4 metres at 10% zinc, 2.38% lead, and 317.01 grams of silver per tonne from 662.3 metres at HZR010.

Ariana said the results, when combined with geochemical and geophysical data, indicated that the area's north-south-trending subvertical structure could be near a potentially-mineralised porphyry intrusion, akin to the structure found at Hod Maden, one of the highest margin development assets globally.

Additionally, Ariana completed a 12-kilometre induced polarisation survey, revealing significant chargeability and resistivity anomalies on Hizarliyayla's western flank.

The anomalies defined new exploration targets, prompting the company to extend its drilling programme by around 3,000 metres, focusing on the Salinbas and Ardala areas.

"The latest diamond drilling and geophysics results from the Hizarliyayla exploration programme continue to demonstrate the lateral extent and depth of the mineralised system," said managing director Dr Kerim Sener.

"As we had predicted from the geological model, most of the better intercepts are located at deeper levels, in several places, below 500m from the surface.

"This was always an ambitious and challenging exploration programme."

Dr Sener said the results still showed genuine potential in the location for mineralisation akin to the "nearby and world-class" Hod Maden deposit, 8.5 kilometres to the south.

"The opportunity at Hizarliyayla is therefore upgraded from a simple test of the geological model to a demonstration of targets."

At 1131 BST, shares in Ariana Resources were down 6.98% at 2p.

Reporting by Josh White for Sharecast.com.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

AAU Market Data

Currency UK Pounds
Share Price 2.55p
Change Today 0.000p
% Change 0.00 %
52 Week High 3.10
52 Week Low 1.63
Volume 164,593
Shares Issued 1,834.18m
Market Cap £46.77m
Beta 0.38
RiskGrade 232

AAU Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
36.89% below the market average36.89% below the market average36.89% below the market average36.89% below the market average36.89% below the market average
60.32% below the sector average60.32% below the sector average60.32% below the sector average60.32% below the sector average60.32% below the sector average
Price Trend
2.84% above the market average2.84% above the market average2.84% above the market average2.84% above the market average2.84% above the market average
51.47% above the sector average51.47% above the sector average51.47% above the sector average51.47% above the sector average51.47% above the sector average
Income Not Available
Growth
79.32% below the market average79.32% below the market average79.32% below the market average79.32% below the market average79.32% below the market average
79.31% below the sector average79.31% below the sector average79.31% below the sector average79.31% below the sector average79.31% below the sector average

AAU Dividends

  Latest Previous
  Special Special
Ex-Div 18-Aug-22 03-Mar-22
Paid 03-Oct-22 25-Mar-22
Amount 0.17p 0.17p

Trades for 04-Dec-2024

Time Volume / Share Price
13:40 119,593 @ 2.52p
10:14 20,000 @ 2.58p
10:12 25,000 @ 2.58p

AAU Key Personnel

Chair Michael de Villiers

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