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TSX Venture Exchange
Trading Symbol: ARC
VANCOUVER, March 3, 2014 /CNW/ - Arian Resources
Corp. ("Arian") - ARC: TSX-V.
Mr. Zahir (Zip) Dhanani, CEO of
Arian, is pleased to announce, in association with Sinomine
International Exploration (Hong
Kong) Holding Co. Limited ("Sinomine"), the progress made on
the first hole underway at the Kacinar gold project located in
Albania. Sinomine has
optioned the Kacinar project from Arian and has the ability to earn
up to a 60% interest in Arian's wholly owned subsidiary Jab
Resources Shpk ("Jab") which holds the project.
Kacinar Drill Program
Arian is pleased to report that drilling on the
first hole has now reached 154 meters. Since commencing on
February 24th the drilling has
progressed well, and has attained the goal of 30 meters per day
production. Drilling will continue on a 24 hour per day, 7
days per week basis. Pictures of the drilling operations are
presented on the Company's website (www.arianresources.com).
Geologist Muhamet
Elezi is logging the core off the drill and reports that
four zones of basalt containing quartz-carbonate veining, chlorite
alteration and variable epidote and silicification have already
been intersected. These zones range in thickness from 1.7 to
5.6 meters and commence at a distance of 35.3 meters down the hole
with the deepest so far intersected at a depth of 138.3
meters. Prior assays of similar zones at Kacinar have
determined that these zones have the potential to host significant
gold mineralization. Core samples will be sent to ALS
Minerals' facility in Bor, Serbia for sample preparation and then
delivered to the ALS Minerals Romanian Laboratory for analysis.
As mentioned in the release of February 24, 2014 this first hole of a 2,000
meter program is testing a co-incident induced polarization
resistivity and chargeability anomalies defined for 550 metres
along a survey line. The modelled coincident anomalies
commence at a depth of around 100 metres and extend to a depth of
at least 250 metres. The drill hole is being drilled at a 73
degree dip due south and is planned to be a minimum 350 metres in
length.
The anomaly was discovered as a part of the 2011
ground geophysical program.
It is anticipated that this drilling program
will require up to four months to complete and is budgeted to cost
$1,000,000.
Kacinar Gold Project
Based on the geological, geochemical and
geophysical results obtained to date, the company 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 Kacinar licence, 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 the company'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 the company 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 ton gold. Of these, 8 samples have
between five and ten grams per tonne gold and 12 samples have
greater than ten grams per tonne gold. 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.
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,
CEO
About Arian Resources Corp.
Arian Resources Corp. is a junior mineral
exploration company with a focus on the exploration of prospective
gold properties in Albania.
About Sinomine International Exploration
(Hong Kong) Holding Co.
Limited
Sinomine is a wholly-owned subsidiary of
Sinomine Resource Exploration Co., Ltd., the top resource
exploration company in the People's
Republic of China.
This news release may contain forward-looking
statements including but not limited to comments regarding the
update on the drill program. 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.
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