Asgard Metals Fund: Investment In Annamite Resources

Didier Fohlen, CEO of Annamite Resources

9 mai 2022

Ariana Resources PLC, an AIM-listed mineral exploration and development company with gold mining interests in Europe, is pleased to announce the third investment of the Asgard Metals Fund (“Asgard”), which is being developed as part of its proprietary Project Catalyst Strategy.

Ariana Resources plc, an AIM-listed mineral exploration and development company with gold mining interests in Europe, is pleased to announce the third investment of the Asgard Metals Fund (“Asgard”), which is being developed as part of its proprietary Project Catalyst Strategy. Asgard is taking an interest in Annamite Resources Holdings Pte. Ltd. (“Annamite”), our Singapore-based holding company, with  a strategic investment of US$100,000 and additional shares as specified within a Consultancy Agreement. Under the Consultancy Agreement, the Ariana team will provide technical consulting services to Annamite’s exploration efforts in Laos for a period of up to two-years, with a focus on our copper and gold licences (Sokdee and Sakai) in the highly prolific mineral belts of Laos.



 


Ariana has an exceptional track-record of creating value for its shareholders through its interests in active mining projects and investments in exploration companies. Its current interests include gold production in Turkey and copper-gold exploration and development projects in Cyprus and Kosovo.

Ariana owns 100% of Australia-registered Asgard as part of the Company’s proprietary Project Catalyst Strategy. The Fund is focused on investments in high-value potential, discovery-stage mineral exploration companies located across the Eastern Hemisphere and within easy reach of Ariana's operational hubs in Australia, Turkey and the UK.

 

START OF GEOPHYSICAL SURVEY AND SCOUT DRILLING AT NAMTHOM PORPHYRY PROSPECT, SOKDEE PROJECT

 

After completing geochemical soil sampling and mapping at Namthom and collecting a further 88 samples on a regional grid within the larger tenement the Annamite team is now working with a Laotian geophysical company  to conduct a drone magnetic survey and a Singapore-based company to undertake scout diamond drilling, both at Namthom..

Three drill holes are planned for a total of 1,500-1,700m in May - June 2022, with drilling due to start the first week of May. Similtaneously the detailed drone survey is being flown over the Namthom prospect to outline magnetics and therefore better define the faulting, intrusive geometry and alteration halo patterns within the porphyry system.