Arian Resources Corp. obtains gold exploration license in Albania
11.07.2013 | CNW
VANCOUVER, July 11, 2013 - 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.
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Arian Resources Corp.
contact Zahir Dhanani at 604.248.5175 or via email at zip1@shaw.ca.