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Mariana Resource’s Awale deal hailed by broker Northland

Friday, February 24, 2017 6:52
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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.

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