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TSX Venture Exchange
Trading Symbol: ARC
VANCOUVER, March 20, 2014 /CNW/ - Arian Resources Corp. ("Arian") - ARC: TSX-V. Mr. Zahir (Zip) Dhanani, President and CEO of Arian, is
pleased to announce, in association with Sinomine International
Exploration (Hong Kong) Holding Co. Limited ("Sinomine"), that the
second diamond drill hole is now 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
Kacinar Drill Program
Arian is pleased to report that the second hole at the Kacinar gold
project is now underway. This hole is collared 207 metres to the
northwest from the first hole and is being drilled at a dip of 75
degrees due south with a targeted end depth of 300 metres. It is
designed to test coincident resistivity and chargeability anomalies.
The anomaly was discovered as a part of the 2011 ground geophysical
It is anticipated that this drilling program will require up to four
months to complete and is budgeted to cost $1,000,000. This program is
being funded by Sinomine and upon the spending of the $1,000,000
Sinomine will have earned a 10% interest in Arian's subsidiary Jab
which holds the project.
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,
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
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
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 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 email@example.com.