8/22/2008

Ariana Resources buys 9 new licences in Turkey

Reuters - Gold exploration company Ariana Resources Plc. said on wednesday it has acquired nine new exploration licences near its main Sindirgi and Tavsan projects in western Turkey. It has also completed licence transfers for six core licences for Tavsan, meaning it can now begin formal work on the project. The Sindirgi and Tavsan projects contain a series of prospects within the Western Anatolian Volancic and Extensional province, in which Ariana Resources expects to delineate a resource of 1 million ounces of gold in the coming years. At 0702 GMT, shares in Ariana were up 3.03 percent at 4.5 pence.

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