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Ariana Resources PLC - exploration firm with interests in Turkey - Says the updated mineral resource estimate for its Apliki copper project in Cyprus shows a global measured, indicated, and inferred resource of roughly 17 million tonnes at a grade of 0.3% to 0.7% copper. Says the project represents a developed open-pit with significant unmined resources available for modern extraction.
‘Within two years, through Venus, Ariana has achieved its objective of establishing a substantial copper resource base in Cyprus, which now comprises 34 million tonnes with a grade range of circa 0.3 to 1.10% copper. Even at the lower end of this grade range, and excluding the potential of by-product metals, such as gold, this represents substantial in-ground risked value,’ Managing Director Kerim Sener comments.
Current stock price: 3.13 pence, up 5.0% on Thursday
12-month change: down 33%
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