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Mariana Resources chief hails ‘exceptional’ drill results

Wednesday, October 26, 2016 0:21
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It is the gift that keeps on giving. Drilling on Mariana Resources Ltd’s (LON:MARL, CVE:MRA) Hot Maden Project in Turkey has produced what it describes as “exceptional” gold and copper intercepts.

They included almost 70 metres at 62.7 grams per tonne of the precious metal and 2.68% copper. Within that was a seven-metre section starting at 210 metres grading a bonanza 526 grams per tonne of gold and 3.28% of copper.

There were two more infill holes with high-grade mineralisation: HTD-70 found 63 metres at 8.3 grams per tonne of gold and 1.46% copper and HTD-72, which contained 34.5 metres at 19.4 grams.

As part of the programme, Mariana carried out what’s called a step forward hole, which intercepted 43.5 metres of massive sulphide mineralisation from 96 metres downhole. Massive sulphide deposits are volcanic in origin and tend to be mineral-rich. It also found a 41.5-metre sulphide-bearing breccia.    

Both provide a potential extension Hot Maden’s Main Zone.

The 13-hole programme was designed ostensibly as an infill exercise to increase confidence in the reported mineral resource estimate and to provide geotechnical data for the ongoing mine development studies.

“Exceptionally positive results continue to be generated from the ongoing drilling at Hot Maden,” said Mariana chief executive Glen Parsons.

The deposit’s indicated gold resources stands at an already impressive 2.79mln ounces, while the copper component weighs in at 166,000 tonnes.

Combined this is the equivalent of 3.43mln ounces of the precious metal.

Mariana owns 30% of Hot Maden, with local partner Lidya holding the remainder.

The project is located around 1,000 kilometres east of Istanbul and consists of four licences totalling 73 square kilometres.

Story by ProactiveInvestors


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