/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE
TSX Venture Exchange
Trading Symbol: ARC
VANCOUVER, Oct. 10, 2013 /CNW/ -
Arian Resources Corp. ("Arian") - ARC: TSX-V.
Mr. Zahir (Zip) Dhanani, President and CEO of Arian, is pleased to announce that in association with Sinomine International
Exploration (Hong Kong) Holding Co. Limited ("Sinomine") a drill
program has been planned for the Kacinar gold project located in
Albania. As announced on September 19, 2013 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.
Two thousand meters of drilling are planned to test six priority
targets. The drill and associated equipment were shipped from China on
Oct 5th and expected to arrive in Albania mid November. Drilling is expected to
commence in late 2013 and anticipated to take four months to complete.
A six person Sinomine Team is expected to arrive at the end of this
month to start preparation of the work program.
The drill program is budgeted to cost approximately $1,000,000 and upon
the spending of $1,000,000 on the project, Sinomine will have earned a
10% interest in Jab.
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
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
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 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 that is to be listed on the Shenzhen Stock Exchange.
This news release may contain forward-looking statements including but
not limited to comments regarding the closing the transactions
contemplated by the Option Agreement, subscription of Units,
resignation and appointment of directors of the Board and the timing of
the Completion Date. 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.
For further information:
For further information, contact Zahir Dhanani at 604.248.5175 or via email at firstname.lastname@example.org.