Ariana Resources (LSE:AAU) has announced a new set of positive drilling results from the Main and South Zones of the Tavşan Mine in western Türkiye, reinforcing confidence in the scale and continuity of gold and silver mineralisation at the project. The latest programme comprised 3,887 metres of HQ diamond drilling across 85 holes, confirming existing high-grade zones while also identifying extensions beyond current resource boundaries.
Results included a number of near-surface and deeper intercepts, with newly defined high-grade areas containing both gold and silver. The South Zone in particular continues to demonstrate strong potential for resource growth, while drilling on the eastern margins of the Main Zone suggests additional upside. Infill drilling has also validated continuity within the current geological models, providing further support for mine planning and development assumptions.
Total drilling at Tavşan is now approaching 10,000 metres, with work ongoing in the West and East Zones. Based on this expanded dataset, the company is preparing an updated JORC-compliant resource estimate, which is expected to be released in the second quarter of 2026. In parallel, pit designs are being re-optimised using a higher gold price assumption of US$3,500 per ounce, a move that could increase the overall scale, mine life and economic contribution of Tavşan to Ariana and its joint venture partners.
Despite the exploration progress, the broader outlook remains constrained by weak financial performance, including ongoing operating losses and negative operating and free cash flow. While leverage remains low and valuation metrics appear reasonable, these factors have yet to fully offset the risks associated with profitability and cash generation.
More about Ariana Resources
Ariana Resources plc is a mineral exploration, development and production company with interests in gold projects across Africa and Europe. The group holds a 23.5% stake in the Tavşan Mine in western Türkiye and focuses on discovering and advancing gold and silver deposits through joint ventures and operated projects, building a diversified pipeline of precious metals assets across its regional portfolio.
Leave a Reply