The overall resource is now 195,200 oz gold and 3.15mln oz of silver after an increase of 44,500 oz of gold and 886,000 oz silver.
Ariana Resources PLC is looking at an extra two years on the mine life at Kiziltepe after a resource and model upgrade at the mine in Turkey.
The overall resource is now 195,200 oz gold and 3.15mln oz of silver after an increase of 44,500 oz of gold and 886,000 oz silver.
Tonnage potential also rose to 2.5mln tonnes, though the average grade reduces to 2.5 grams per tonne (g/t) gold and 40.3 g/t silver, as a result of adoption of revised geological model.
Original plans were for the mine, which is currently under construction, to run for eight years but the new model from mining pit specialists Whittle has indicated 10 years at a designed throughput rate of 150,000 tonnes per annum is possible.
Kerim Sener, Ariana’s managing director, said the discovery cost of these additional ounces was approximately US$5 per ounce and combined with Whittle’s optimisation work demonstrates the potential for Kiziltepe to provide for a mine life of about 10 years at the designed throughput rate of 150,000 tonnes per annum.
The resource also excluded several subsidiary veins with established resources that with further work may add further to the mine life, he said.
“With the enlarged resource and with expectations of further resource growth, we are now reviewing our options to potentially increase the mine throughput rate up to 200,000 tonnes per annum with our partners, Proccea.”
Source: Proactive investors
