Proactive Investors - Ariana Resources (LON:ARNR) said recent drilling at Kiziltepe has defined the likely economic limits of the known vein systems and will now expand to identify additional resources in the area.
Specifically, drilling is underway at Karakavak, with progression onto Kepez, with a separate programme ongoing at Kizilcukur.
Other targets defined by a recent Induced Polarisation (IP)/Resistivity survey across the Kiziltepe licence will also be drilled.
Opportunities to further extend mine life to nine years, through to 2025, and potentially beyond are also being assessed, said the statement.
Kerim Sener, managing director, commented: “Kiziltepe currently remains our most important mining operation pending the successful commissioning of Tavsan which is currently under construction.
“We are now looking to identify additional resources in the wider area and at several satellite locations such as Kizilcukur and Ivrindi.
“In addition, we remain excited by the potential for further discovery at Kepez, and we are now preparing for a new drilling programme to test this area appropriately.
“Drilling at Kiziltepe specifically has tested most of the known vein extensions and some additional resource upside has already been determined, particularly at the northwest ends of both Arzu South and Arzu North.
“Once the drilling programmes across the Kiziltepe sector are completed, including the active programmes in the Karakavak and Kepez areas and the programme recently started at Kizilcukur, we will be undertaking a further review and reassessment of our resources and reserves."