Ariana Resources (LON: AAU) says that Western Tethyan Resources has more than doubled the tonnage of the total resource at the Slivova gold project in Kosovo. This could be another significant gold project, where Turkey-focused Ariana Resources has a small, but valuable stake.
There is a measured and indicated resource of 1.1 million tonnes grading 4.1g/t gold and 15g/t silver plus a further 300,000 tonnes of inferred resources. The mineralisation is in the Main Gossan and Gossan Extension zones. There is plenty more of the licence area to explore.
Western Tethyan Resources is earning an 85% stake by spending €1.8m. There are plans for 4,500 metres of reverse circulation drilling on at least six untested geochemical and geophysical anomalies. That will produce a bigger resource. The companies are beginning a Preliminary Economic Assessment.
Slivova is in a very prospective belt in Europe. The Vardar Belt is a Jurassic-Cretaceous thrust and suture zone and is part of the larger Tethyan Belt.
The share price is 2.22% higher at 2.3p.
