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TSX Venture Exchange
Trading Symbol: ARC
VANCOUVER, July 11, 2013 /CNW/ - Arian Resources
Corp. ("Arian") - ARC: TSX-V.
Mr. Zahir (Zip) Dhanani, President and
CEO of Arian, is pleased to announce that further to Arian's
news releases dated April 12 and
May 21, 2013, Arian's wholly-owned
subsidiary, JAB Resources SHPK ("JAB"), has obtained a gold
exploration permit (the "Exploration License") from the
National Licensing Center of the Ministry of Economy, Trade and
Energy, Republic of Albania.
The Exploration License has been granted in
response to Arian's application in respect of JAB's Kacinar gold
project located in Albania (the
"Project").
Zahir (Zip) Dhanani, President and CEO of
Arian, comments: "Arian is thrilled to have received the
Exploration License for its flagship Kacinar Project in
Albania. Arian is confident that
obtaining this Exploration License will result in supreme value to
its shareholders as it expands its operations in Albania and the Balkan region."
Kacinar Gold Project
Based on the geological, geochemical and
geophysical results obtained to date, Arian has unearthed what
appears to be a new gold-bearing greenstone belt. Where suitable
tectonic and intrusive activity has occurred greenstone belts can
contain substantial gold deposits.
Greenstone-hosted gold deposits currently
provide over 13 per cent of global gold production, with examples
such as the Kirkland Lake,
Malartic and Detour Lake mines
within the Abitibi belt in Canada,
the Tasiast mine in Mauritania,
and the Fimiston mine in Kalgoorlie, Australia. Within the Exploration
License, there appears to be potential for two styles of
mineralization. The first is quartz carbonate-sulphide shear-hosted
veins as discovered in the company's drill testing program. The
second is porphyry copper-gold mineralization associated with
emergent core complexes as interpreted from Arian's geophysical
survey.
Within the outlined greenstone belt, historic
Albanian Geological Survey work defined six areas that contain
stream sediments anomalous in gold. Drill testing of a small area
(400 metres by 200 metres) associated with one of these geochemical
anomalies by Arian outlined nine steeply dipping quartz
carbonate-sulphide shear-hosted veins, averaging four metres in
width and averaging 2.7 grams per tonne gold. These veins are open
along strike and at depth, and are consistent with the type of
mineralization found in established greenstone-hosted gold deposits
and collectively offer significant potential.
Analysis of drill core and surface trench
samples from this area has resulted in 61 samples with grades
greater than one gram per tonne gold. Of these, 20 samples have
greater than five grams per tonne gold and are listed in the
attached table.
Drill
hole
or trench
No.
|
Sample
|
From
(m) |
To
(m) |
Gold
(g/t) |
GZJ1017
|
501505
|
86
|
87 |
39.4 |
GZJ1011
|
500719
|
28
|
29 |
29.8 |
Zone1
|
GZJ208
|
7
|
8 |
16.9 |
GZJ1005 |
500264
|
67
|
68 |
16.75 |
GZJ1010
|
500571
|
41
|
42 |
14.9 |
GZJ1008
|
500450
|
53
|
54 |
14.55 |
GZJ1016
|
501306
|
42
|
43 |
12.85 |
GZJ1008
|
500459
|
61
|
62 |
11.7 |
GZJ1012
|
500831
|
42
|
43 |
11.35 |
GZJ1019
|
501781
|
60
|
61 |
11.15 |
GZJ1005
|
500265
|
68
|
69 |
10.75 |
Zone1
|
GZJ207
|
6
|
7 |
10.5 |
GZJ1008
|
500445
|
48
|
49 |
9.04 |
GZJ1008
|
500460
|
62
|
63 |
8.18 |
GZJ1014
|
501110
|
117 |
118 |
8.15 |
GZJ1005
|
500291
|
91
|
92 |
7.69 |
GZJ1019
|
501780
|
59
|
60 |
6.35 |
GZJ1011
|
500717
|
26
|
27 |
5.91 |
GZJ1010
|
500595
|
63
|
64 |
5.75 |
GZJ1005
|
500263
|
66
|
67 |
5.32 |
As seen in the table, the highest assay was 39.4
grams per tonne gold over one metre on drill hole GZJ1017.
Significant intersections include 1.51 grams per tonne gold over 14
metres thickness on drill hole GZJ1012 and 7.01 grams per tonne
gold over six metres on drill hole GZJ1011. Note that these
thicknesses are not necessarily true widths.
Preliminary metallurgical test work indicates
that 94 per cent of the gold can be separated into a sulphide
concentrate using standard floatation processes. The gold occurs as
separate grains associated with the sulphides.
Following the completion of the drilling program
an induced polarization geophysical survey was undertaken in the
Gjazuj area. This survey reveals the presence of numerous
high-priority resistivity and chargeability anomalies. These are
interpreted to represent both the shear-zone-hosted sulphide
mineralization identified in the drilling and large
sulphide-bearing intrusives lying immediately adjacent to and below
the shear zones. The intrusives are further interpreted to
represent porphyry copper-gold mineralization associated with the
emergent core complexes. A number of high-priority targets have
been identified for drill testing (target depths ranging from 50
metres to 250 metres).
The potential presence of a zone of emergent
core complexes that runs north-south through the Gjazuj area is
significant. Such zones can be associated with porphyry copper-gold
instrusive systems that contain both considerable gold
(multimillion ounce) and copper resources. Mineralization of this
type has been identified in two sub-parallel belts located to the
east of Albania (within
Serbia-Macadonia-Greece and within Serbia-Bulgaria). As virtually
no modern-day exploration has been undertaken on the identified
Albanian zone, it is considered to offer considerable
potential.
For more information on Arian or the Project,
see Arian's news release dated April 12,
2013 that has been filed on its SEDAR profile at
www.sedar.com.
Chad Ulansky,
PGeo, is the qualified person under National Instrument 43-101 who
has reviewed the technical disclosure in this news release and is
responsible for the technical information contained in this
release.
ON BEHALF OF THE BOARD OF DIRECTORS
Zahir Dhanani,
President & CEO
About Arian Resources Corp.
Arian Resources Corp. is a junior mineral
exploration company with a focus on the exploration of prospective
mineral properties in Albania.
This news release may contain forward-looking
statements including but not limited to comments regarding the
Project or the occurrence or timing of the expansion of Arian's
operations. Forward-looking statements address future events and
conditions and therefore involve inherent risks and uncertainties.
Actual results may differ materially from those currently
anticipated in such statements and Arian undertakes no obligation
to update such statements, except as required by law.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
SOURCE Arian Resources Corp.