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July 11, 2013 /PRNewswire/ --
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN
THE UNITED STATES/
TSX Venture ExchangeTrading Symbol: ARCArian 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
The Exploration License has been granted in response to Arian's application in respect of JAB's Kacinar gold project located in
Albania (the "
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
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.