JOHANNESBURG (miningweekly.com) – The resource classification of the Tavsan project, in Turkey, has been materially improved, with 71% of the resource now classified as measured and indicated, 50% owner Ariana Resources reported on Monday.
The Tavsan project, which is part of the Red Rabbit joint venture (JV) with Turkish firm Proccea Construction, has a resource of 3.98-million tonnes at 1.32 g/t gold for 168 900 oz of gold and 571 700 oz of silver.
Of this, the measured and indicated resource totals 2.84-million tonnes, containing 13 800 oz of gold and 57 100 oz of silver. About 13% of the resource is classified as measured and 58% classified as indicated.
The new classification enables the JV to proceed with a feasibility study and an environmental impact assessment (EIA), without further resource drilling.
Ariana MD Kerim Sener said in a news release that the feasibility study and EIA would be completed in-house, along with associated permitting.
“The JV is planning to commence these work programmes during 2018, which are expected to be funded through cash flow from the Kiziltepe mine," he stated.
Tavsan will be developed as a semi-autonomous project with Kiziltepe, within the broader context of the Red Rabbit JV.