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Ariana Resources PLC announces start of drilling at Magellan copper-gold project


The eight-hole drilling programme is expected to also to confirm the abundance and distribution of gold and silver

() said drilling has started on the copper-gold Magellan project in Cyprus.

Diamond drilling by joint venture partner Venus Minerals Ltd began at the Kokkinoyia sector of the project to further test the known mineralisation and to provide material for metallurgical testwork.

“We are very pleased to report the commencement of the first diamond drilling programme in Cyprus by Venus Minerals,” said Dr. Kerim Sener, managing director of Ariana Resources. “This represents the culmination of approximately three years of work by the team at Venus and builds upon the earlier percussion drilling programme which tested certain geological concepts concerning the distribution of Volcanogenic Massive Sulphide deposits in the region.”

Kokkinoyia hosts a JORC 2012 inferred resource comprising 5.2 million tonnes (Mt) at an average copper grade of 0.69%, a significant proportion of the Magellan project’s total inferred resource of 9.5Mt at 0.65% copper. 

Ariana Resources said the eight-hole drilling programme is expected to provide information for both the geological model and the resource estimate and also to confirm the abundance and distribution of gold and silver, which would significantly improve the economics of the deposit. Gold and silver were shown to be present in intermittent historical assays and a recent dump sampling programme. 

“Following the drilling of the Kokkinoyia Sector, we are expecting to move the rig to the Klirou and New Sha sectors of the Magellan project, Sener added.

Ariana acquired, through an earn-in agreement, up to 50% of UK-registered Venus Minerals at the end of 2019.



Read More: Ariana Resources PLC announces start of drilling at Magellan copper-gold project

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