Ariana Resources (LSE:AAU) is an exploration and development business focused on Turkey. The firm is developing a portfolio of licences containing more than 1.5MMoz of gold and other metals. It aims to add value to projects cost-effectively through focused exploration and well-financed joint ventures (JVs).
Ariana’s flagship assets are the Kiziltepe and Tavsan projects, which together form the Red Rabbit gold project. The sites are found in two mineralised districts in the Western Anatolian Volcanic and Extensional province of Western Turkey. The pair are being developed in a 50:50 JV and contain a total resource inventory of around 605,000oz gold equivalent, as at the end of 2017. As it stands, Kiziltepe is fully-permitted and is in production while Tavsan is in development.
Meanwhile, Ariana also owns 100pc of the Salinbas gold project in north-eastern Turkey. This consists of the Salinbas gold-silver deposit and the Ardala copper-gold-molybdenum porphyry, among other prospects. The entire project area contains a total resource inventory of c.1MMozs of gold equivalent.