Welcome!

News Feed Item

Arian Resources Corp. Announces Second Hole Underway at Gold Exploration License in Albania

VANCOUVER, British Columbia, March 20, 2014 /PRNewswire/ --



/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/

TSX  Venture  Exchange 
Trading  Symbol:  ARC 

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 project.

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 program.

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, 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 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.

For further information:

For further information, contact Zahir Dhanani at +1-604-248-5175 or via email at [email protected].

(ARC.)

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
With so much going on in this space you could be forgiven for thinking you were always working with yesterday’s technologies. So much change, so quickly. What do you do if you have to build a solution from the ground up that is expected to live in the field for at least 5-10 years? This is the challenge we faced when we looked to refresh our existing 10-year-old custom hardware stack to measure the fullness of trash cans and compactors.
Extreme Computing is the ability to leverage highly performant infrastructure and software to accelerate Big Data, machine learning, HPC, and Enterprise applications. High IOPS Storage, low-latency networks, in-memory databases, GPUs and other parallel accelerators are being used to achieve faster results and help businesses make better decisions. In his session at 18th Cloud Expo, Michael O'Neill, Strategic Business Development at NVIDIA, focused on some of the unique ways extreme computing is...
The emerging Internet of Everything creates tremendous new opportunities for customer engagement and business model innovation. However, enterprises must overcome a number of critical challenges to bring these new solutions to market. In his session at @ThingsExpo, Michael Martin, CTO/CIO at nfrastructure, outlined these key challenges and recommended approaches for overcoming them to achieve speed and agility in the design, development and implementation of Internet of Everything solutions wi...
Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is expected in the amount of information being processed, managed, analyzed, and acted upon by enterprise IT. This amazing is not part of some distant future - it is happening today. One report shows a 650% increase in enterprise data by 2020. Other estimates are even higher....
With over 720 million Internet users and 40–50% CAGR, the Chinese Cloud Computing market has been booming. When talking about cloud computing, what are the Chinese users of cloud thinking about? What is the most powerful force that can push them to make the buying decision? How to tap into them? In his session at 18th Cloud Expo, Yu Hao, CEO and co-founder of SpeedyCloud, answered these questions and discussed the results of SpeedyCloud’s survey.
SYS-CON Events announced today that Isomorphic Software will exhibit at DevOps Summit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Isomorphic Software provides the SmartClient HTML5/AJAX platform, the most advanced technology for building rich, cutting-edge enterprise web applications for desktop and mobile. SmartClient combines the productivity and performance of traditional desktop software with the simp...
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
Actian Corporation has announced the latest version of the Actian Vector in Hadoop (VectorH) database, generally available at the end of July. VectorH is based on the same query engine that powers Actian Vector, which recently doubled the TPC-H benchmark record for non-clustered systems at the 3000GB scale factor (see tpc.org/3323). The ability to easily ingest information from different data sources and rapidly develop queries to make better business decisions is becoming increasingly importan...
SYS-CON Events announced today that 910Telecom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and ...
Kubernetes, Docker and containers are changing the world, and how companies are deploying their software and running their infrastructure. With the shift in how applications are built and deployed, new challenges must be solved. In his session at @DevOpsSummit at19th Cloud Expo, Sebastian Scheele, co-founder of Loodse, will discuss the implications of containerized applications/infrastructures and their impact on the enterprise. In a real world example based on Kubernetes, he will show how to ...
Traditional on-premises data centers have long been the domain of modern data platforms like Apache Hadoop, meaning companies who build their business on public cloud were challenged to run Big Data processing and analytics at scale. But recent advancements in Hadoop performance, security, and most importantly cloud-native integrations, are giving organizations the ability to truly gain value from all their data. In his session at 19th Cloud Expo, David Tishgart, Director of Product Marketing ...
SYS-CON Events announced today Telecom Reseller has been named “Media Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.
As the world moves toward more DevOps and Microservices, application deployment to the cloud ought to become a lot simpler. The Microservices architecture, which is the basis of many new age distributed systems such as OpenStack, NetFlix and so on, is at the heart of Cloud Foundry - a complete developer-oriented Platform as a Service (PaaS) that is IaaS agnostic and supports vCloud, OpenStack and AWS. Serverless computing is revolutionizing computing. In his session at 19th Cloud Expo, Raghav...
Aspose.Total for .NET is the most complete package of all file format APIs for .NET as offered by Aspose. It empowers developers to create, edit, render, print and convert between a wide range of popular document formats within any .NET, C#, ASP.NET and VB.NET applications. Aspose compiles all .NET APIs on a daily basis to ensure that it contains the most up to date versions of each of Aspose .NET APIs. If a new .NET API or a new version of existing APIs is released during the subscription peri...
SYS-CON Events announced today that StarNet Communications will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. StarNet Communications’ FastX is the industry first cloud-based remote X Windows emulator. Using standard Web browsers (FireFox, Chrome, Safari, etc.) users from around the world gain highly secure access to applications and data hosted on Linux-based servers in a central data center. ...