(Before It's News)
Mariana Resources Ltd’s (LON:MARL
TSE:MRY)) completion of the acquisition of Awalé Resources, which owns the Bondouko Gold Project in Côte d’Ivoire, has been welcomed by broker Northland.
The dual-listed junior issued Awalé 723,511 shares as final consideration.
In the Bondouko Est concession high-grade gold mineralisation of up to 36g/t gold has been defined from initial surface sampling, noted the broker.
The concession also has extensive artisanal mining down to 30m on high-grade quartz veins that lie within a northwest-southeast trending mineralised corridor, which is believed to have a strike of 18km.
The broker’s forecasts are under review while it waits for publication of the NI-43 101 report for the Hot Maden prospectin Turkey , Mariana’s flagship project.
Shares were a shade lower at 72.2p but have risen four-fold over the past year.
Story by ProactiveInvestors