🕐05.01.11 - 09:54 Uhr
Mariana Resources - Drilling confirms Las Calandrias Gold-Silver Project Bulk To
nnage Potential - sp 52p target price 64p
FinnCap Research - Mariana Resources* Unlocking growth through assay results CORP
For us, the release of the second and final batch of assays from 28 mostly infill holes at the Calandria Sur goldfield in Patagonia increases our confidence that the preliminary resource, now due in Q1/Q2, will not disappoint.
In anticipation that the majority of this forthcoming resource will be sufficiently de-risked to be classified as indicated and of the significant exploration potential over the 11km2 Las Calandrias land package where drilling for additional goldfields at Calandria Norte and El Nido is ongoing, we increase our valuation to 64p per share.
Research note attached.
Analyst: Joe Lunn
AIM and PLUS code: MARL
5 January 2011
Mariana Resources Ltd
Drilling Confirms Bulk Tonnage Potential of Calandria Sur Gold-Silver Mineralisation, Las Calandrias Project, Southern Argentina
Mariana Resources Ltd (Mariana or the Company), the AIM quoted exploration and development company focussed in Argentina and Chile, announces further wide gold-silver intersections from the third diamond drilling campaign at the Calandria Sur Prospect (Calandria Sur), which is one of several key target areas at the Companys 100% owned flagship Las Calandrias Gold-Silver Project (Las Calandrias), located in the prospective Deseado Massif gold district in southern Argentina.
Overview
* Results from final 28 holes of the 2010 55 hole diamond drilling campaign indicate a robust bulk tonnage style gold silver deposit hosted by the Calandria Sur rhyolite dome
* Best intersection of 104m @ 1.3 g/t gold (Au) & 19 g/t silver (Ag) from 9m including 19m @ 2.3 g/t Au & 48 g/t Ag from 27m (CSD106)
* Other results included 102.5m @ 1.0 g/t Au & 18 g/t Ag from 3.5m (CSD100) and 76m @ 1.3 g/t Au & 17 g/t Ag from 13m (CSD105)
* Areal extent of coherent gold mineralisation (as defined by drill holes with +10gm.m* Au) increases to 600m NW-SE by 250-300m NE-SW with a 350m x 100-150m +50gm.m Au core
* Mineralisation remains open both to the NW (CSD115 - 28m @ 1.0 g/t Au 19 g/t Ag & 10.5m @ 0.6 g/t Au 25 g/t Ag) and to the NE into adjacent pyroclastics (CSD84 - 43m @ 0.7 g/t Au)
* Silver gm.m plan shows a significant 450m x 200m area of +500gm.m Ag with a 400 x 100-150m +1000gm.m Ag core, coincident with the +50gm.m Au zone
* Resource modelling at Calandria Sur to commence January 2011 leading to a preliminary resource estimate Q1/Q2 2011
* Preliminary metallurgical testwork continues with results expected Q1 2011
* Drill testing of high grade vein-breccia targets at Calandria Norte Prospect completed (5,000m) - results of 19 holes imminent
* Exploration drilling underway at El Nido prospects with two rigs testing new 3D IP targets including Nido Norte and Nido Oeste (6,000m) - first results expected in mid February 2011
Commenting today, Chairman John Horsburgh said, "These results further confirm the bulk tonnage potential at Calandria Sur and show the areal extent of +10g-m gold mineralisation to be 600m long by up to 300m wide.
Resource modeling is commencing this month which will lead to a preliminary NI 43-101 resource estimate Q1/Q2 2011.
"Drill results from the Calandria Norte bonanza grade targets are expected shortly.
Additionally, emphasis has already shifted to exploration drilling of encouraging 3D IP targets at El Nido, including Nido Norte and Nido Oeste.
Drill targeting is also in progress for the Nido Sur area following very positive 3D IP results from the second survey block.
These excellent prospects all offer scope to enhance the economic potential of Las Calandrias and we can look forward to further drill results over the next quarter."
Calandria Sur
In the three drilling campaigns at Calandria Sur commencing the last quarter of 2009, Mariana has drilled 92 diamond drill holes for a total of 10,269 metres.
The drilling programme in 2010 consisted of 6,186m in 55 holes.
Of these, 41 holes were drilled in the main zone on 50 x 25m spacings, i.e.
sufficient for an NI 43-101 compliant resource estimate.
Results for the remaining batch of 28 of 55 infill and exploratory holes demonstrate a robust bulk tonnage style disseminated mineralised system centred on the core of the Calandria Sur rhyolite dome.
The best intersection from the second batch of results from the 55 hole diamond drilling programme was 104m @ 1.3 g/t Au & 19 g/t Ag from 9m including 19m @ 2.3 g/t Au & 48 g/t Ag from 27m
(CSD106).
The 2010 drilling substantially increased the areal extent of gold mineralisation (as defined by drill holes with +10g-m Au) from that contemplated after the 2009 scout drilling to 600m NWSE by 250-300m NE-SW with a 350 x 100-150m +50gm-m Au core.
The silver g-m plan shows a significant 450 x 200m area of +500g-m Ag with a 400 x 100-150m +1000g-m Ag core, coincident with the 50g-m Au zone.
The top of the mineralised zone is located at shallow depths, mostly within 2m to 50m below surface.
Mineralisation is open both to the NW (CSD115 - 28m @ 1.0 g/t Au 19 g/t Ag & 10.5m @ 0.6 g/t Au 25 g/t Ag) and to the NE into adjacent pyroclastics (CSD84 43m @ 0.7 g/t Au).
To the SE, the Calandria Sur mineralisation, as defined by +10g-m Au, extends across the concession boundary with the Companys neighbour Minera IRL into its Escondido area, where similar rhyolite-hosted gold mineralisation has been reported (see Minera IRL website www.minerairl.com).
Best results from the second and final batch (28 holes of the 2010 55 hole drilling programme) at Calandria Sur include:
* CSD97 - 25m @ 2.7 g/t Au & 108 g/t Ag from 4 m incl.
3m @ 9.3 g/t Au & 475 g/t Ag from 58m
* CSD98 - 34.5m @ 1.1 g/t Au & 43 g/t Ag from 29m, incl.
12m @ 2.1 g/t Au & 75 g/t Ag from 48m.
* CSD99 - 74m @ 0.9 g/t Au & 17 g/t Ag from 36m, incl.
1m @ 11.1 g/t Au & 102 g/t Ag from 82m
* CSD100 - 102.5m @ 1.0 g/t Au & 18 g/t Ag from 3.5m, incl.
20 m @ 2.3 g/t Au & 56 g/t Ag from 60m
* CSD105 - 76m @ 1.3 g/t Au & 17 g/t Ag from 13m, incl.
1 m @ 35 g/t Au & 105 g/t Ag from 59m
* CSD106 - 104m @ 1.3 g/t Au & 19 g/t Ag from 9m, incl.
19 m @ 2.6 g/t Au & 48 g/t Ag from 27m
* CSD108 - 34.5m @ 2.2 g/t Au & 60 g/t Ag from 29m, incl.
6 m @ 6.1 g/t Au & 155 g/t Ag from 52m
* CSD113 - 24m @ 1.2 g/t Au & 19 g/t Ag from 48m, incl.
1 m @ 11.4 g/t Au & 69 g/t Ag from 61m
* CSD114 - 25m @ 1.4 g/t Au & 142 g/t Ag from 68m, incl.
0.5 m @ 24.1 g/t Au & 2520 g/t Ag from 92m
* CSD115 - 28m @ 1.0 g/t Au & 19 g/t Ag from 3m
* CSD121 - 21.6m @ 1.5 g/t Au & 10 g/t Ag from 30m, incl.
1 m @ 9.4 g/t Au & 21 /t Ag from 31m
Calandria Norte and El Nido target areas
Mariana completed the 5,000m Calandria Norte infill and exploratory drilling programme in Q4 2010 and results of 19 holes are expected shortly.
The drilling targeted extensions to previous bonanza grade gold-silver intersections (CND45 - 4.0m @ 76 g/t Au & 70 g/t Ag, CND46 - 4.5m @ 102 g/t Au & 72 g/t Ag and CND61 - 5.0m @ 34 g/t Au & 32 g/t Ag, see news releases dated 26/05/10 and 15/10/10).
In addition, Mariana scout drilled a new target in the north of the
dome.
Two rigs are presently deployed testing highly prospective 3D Induced Polarisation (IP) targets within the 3km x 2km Nido Norte 3D IP block, including Nido Norte and Nido Oeste.
Mariana has received preliminary 3D models of the Nido Sur IP survey west of the Nido Norte IP block.
Resistivity shows at least four discrete anomalies within a 1.5km x 1.25km area which, together with geological mapping, are interpreted to be rhyolite domes.
Associated with them are several 3D chargeability anomalies which are interpreted to be zones of stockwork/disseminated sulphide mineralisation and/or hydrothermal clay alteration in the subsurface.
Drill targeting is in progress and a total of 6,000m of diamond drilling is planned for the El Nido area.
CALANDRIA SUR
HOLE PARAMETERS
INTERCEPT
OBJECTIVE
HOLE
UTME
UTMN
ALT
AZ
DIP
DEPTH
FROM
TO
CORE LENGTH
GOLD
SILVER
(masl)
()
(-)
(m)
(m)
(m)
(m)
(g/t)
(g/t)
CSD08
613709
4724881
166
340
55
90.7
32.6
42.3
9.7
0.4
NSV
CSD09
613962
4724313
167
85
50
117.4
22.5
77.3
54.8
0.8
10
Inc
67.3
75.3
8.0
1.9
13
CSD10
613906
4724364
178
85
50
107.3
38.9
99.9
61
0.2
4
Inc
38.9
44.9
6
1.1
10
CSD11
613980
4724490
168
295
50
126.5
No significant intercept- hole remains in the volcaniclastic
CSD12
613887
4724425
176
90
60
94.8
19.3
24.85
5.6
1.9
25
CSD12
36.4
88.5
51.1
0.6
5
Inc
75
85.5
10.5
1.2
11
CSD13
613836
4724512
178
85
50
112.8
7.0
109.0
102.0
1.2
17
Inc
89
109
20.0
2.6
39
CSD14
613880
4724366
176
95
75
127.8
92
121.1
29.1
0.3
1
CSD15
613832
4724577
179
20
60
96.8
3.5
95
91.5
1.6
17
Inc
49
70
21
4.5
39
Inc
51
53
2
28.4
154
CSD16
613790
4724587
179
20
60
97.0
23
94
71
1.1
23
Inc
61
90
29
1.8
35
CSD17
613788
4724515
176
90
60
152.2
7
31
24
0.5
4
CSD17
83
147.5
64.5
1.1
20
Inc
90
113.6
23.55
2.0
40
CSD18
613827
4724470
176
75
50
137.5
67.5
131.0
63.5
1.2
20
Inc
91.5
119
27.5
2.2
34
CSD19
613838
4724542
179
70
65
109.6
40
103
63
0.6
11
Inc
89
100
11
1.0
6
CSD20
613888
4724510
179
90
50
77.5
39
77.5
38.5
1.7
13
Inc
40
45
5
7.2
14
And
64
65
1
12.1
164
CSD21
613747
4724505
175
90
75
158.0
2
111.5
109.5
0.8
19
CSD21
33
97
64
1.2
29
Inc
51
70
19
2.2
43
CSD22
613806
4724429
172
80
60
115.5
4.5
99
94.5
0.7
11
CSD22
4.5
39
34.5
1.3
20
Inc
7.5
18
10.5
2.3
12
CSD23
613821
4724533
178
20
70
131.5
47
116.5
69.5
2.1
39
Inc
81
103
22
4.4
79
CSD24
613779
4724536
179
15
70
119.0
12.5
114.5
102
1.4
21
Inc
77
109
32
2.9
42
CSD25
613757
4724455
170
75
50
143.0
74
142
68
2.4
24
inc
99
104
5
10.3
76
And
115
116
1
40.2
85
CSD26
613763
4724643
182
20
70
86.5
9
29
20
0.3
18
CSD26
54
85
31
1.4
7
Inc
54
55
1
9.6
20
CSD27
613730
4724574
177
10
70
113.5
4.5
98
93.5
0.9
23
Inc
69
89
20
1.6
42
CSD28
613734
4724689
184
15
70
92.5
No significant intercept
CSD29
613487
4724697
171
280
70
71.5
No significant intercept
CSD30
613491
4724702
171
350
70
81.5
No significant intercept
CSD31
613563
4724690
171
10
70
86.5
No significant intercept
CSD32
613616
4724686
178
10
70
116.0
31
101.5
70.5
0.5
22
Inc
49
64
15
1.0
41
CSD33
613675
4724677
183
15
70
116.3
37
72
35
0.4
19
And
92
107.5
15.5
0.5
6
CSD34
613524
4724707
170
10
70
85.5
36
42
6
0.5
65
CSD35
613611
4724630
175
10
70
107.5
42
48
6
0.8
14
And
70
86
16
1.3
27
CSD36
613657
4724620
179
10
70
127.0
16.5
99
82.5
1.1
34
Inc
62
78
16
2.3
100
CSD37
613664
4724568
179
20
70
131.0
3.5
124
120.5
0.9
17
Inc
6.5
40
33.5
1.2
26
And
99
100
1
14.8
58
CSD38
613646
4724523
177
20
70
119.0
32
74
42
0.8
31
CSD39
613704
4724616
179
20
70
113.0
3
109
106
1.6
27
Inc
59
71
12
2.5
89
CSD40
613735
4724534
174
20
70
125.0
31
116
85
0.9
24
CSD41
613869
4724441
176
75
80
116.0
78
92.5
14.5
0.6
5
CSD42
613885
4724382
177
260
60
139.8
52
56
4
2.1
32
CSD42
69
115.5
46.5
0.4
4
CSD43
613877
4724331
174
260
60
160.3
62
122
60
0.4
4
CSD44
613758
4724804
174
30
65
80.0
No significant intercept
CSD65
613789
4724461.43
175
85
50
194.8
31.5
39.0
7.5
0.6
7
And
67.0
115.0
48.0
0.8
15
Exploratory
Inc
88
101
13.0
1.3
21
CSD66
613701
4724445.06
172
85
50
203.6
22.0
26.0
4.0
0.6
19
Exploratory
And
124.0
133.0
9.0
0.6
3
CSD67
613759
4724514.45
182
85
60
192.0
40.5
129.0
88.5
1.0
25
Exp-Infill between CSD17-21
Inc
114
127
13.0
2.0
60
CSD68
613755
4724429.77
170
87
60
129.0
93.0
109.0
16.0
0.6
4
Exploratory
CSD69
613700
4724384.42
166
220
50
74.8
No significant intercept
Exploratory
CSD70
613675
4724431.48
169
220
60
90.0
23.0
51.5
28.50
0.4
3
Exploratory_Western Zone
CSD71
613862
4724471.5
184
85
50
125.8
68.0
113.5
45.5
1.2
23
Exp-infill updip CSD18
Inc
76
80
4.0
4.6
94
CSD72
613410
4724502.59
159
220
60
90.0
No significant intercept-hole in the volcanics
Exploratory_Western Zone
CSD73
613627
4724594.88
181
20
60
129.0
3.0
104.0
101.0
1.0
28
Exploratory_Western Zone
Inc
58
70
12.0
2.4
75
CSD74
613613
4724545.98
181
20
60
78.0
18
61.5
43.5
0.6
17
Exploratory_Western Zone
CSD75
613582
4724608.62
179
20
60
119.0
77
95
18.0
0.9
33
Exploratory_Western Zone
CSD76
613563
4724562.62
177
20
60
66.0
No significant intercept
Exploratory_Western Zone
CSD77
613573
4724506.6
177
20
60
81.0
28
44
16.0
1.0
48
Exploratory_Western Zone
And
48
61
13.0
0.6
28
CSD78
613609
4724468.35
171
20
60
81.0
60
65
5.0
0.5
58
Exploratory_Western Zone
CSD79
613515
4724583.57
175
20
60
117.0
52
53
1.0
1.2
62
Exploratory_Western Zone
CSD80
613532
4724628.34
174
20
60
117.0
84.5
90.5
6.0
0.3
35
Exploratory_Western Zone
CSD81
613578
4724454.92
166
20
50
122.8
No significant intercept-hole remains in the volcaniclastic
Exploratory_Western Zone
CSD82
613641
4724485.29
176
20
70
111.0
64.5
73.5
9.0
1.3
11
Exploratory_Western Zone
CSD83
613857
4724565.33
186
20
60
102.0
26.5
70.4
43.9
1.1
17
Exploratory_Northeast Zone
CSD84
613874
4724615.21
180
20
60
69.0
13
19
6.0
1.3
6
Exploratory_Northeast Zone
And
26
69
43.0
0.7
3
CSD85
613890
4724576
182
20
60
90.0
27
79
52.0
0.6
4.4
Exploratory_Northeast Zone
CSD86
613824
4724552
185
20
65
120.0
20
104.5
84.5
2.4
37
Infill: between CSD15 & CSD23
49
84
35.0
4.8
75
CSD87
613841
4724600
184
20
60
116.9
11.6
84.85
73.3
1.0
15
Infill: Updip CSD15
48
55
7.0
2.2
30
CSD88
613850
4724627
182
20
60
81.7
33.5
50.2
16.7
1.0
17
Infill: Updip CSD87
Inc
33.5
34.15
0.6
16.4
337
CSD89
613777
4724566
186
20
65
105.8
27
96.5
69.5
1.1
19
Infill: between CSD16 & CSD24
Inc
59
77
18.0
2.2
42
CSD90
613795
4724614
185
20
60
110.5
27
90
63.0
0.6
11
Infill: Updip CSD16
60
68
8.0
1.9
24
CSD91
613804
4724642
184
20
60
87.0
14
36
22.0
0.5
9
Infill: Updip CSD90
CSD92
Abandoned due to technical problems- CSD93
CSD93
613809
4724505
179
20
70
146
83
118.5
35.5
0.3
12
infill: behind CSD23
CSD94
613775
4724410
173
20
70
137
61
67
6.0
2.1
146
Infill: behind CSD96
And
73
74.5
1.5
2.1
123
And
94
101
7.0
0.7
4
And
114
120
6.0
0.6
2
CSD95
613743
4724471
177
20
70
152.7
49
71
22.0
1.1
32
Exploratory, southern-central part
And
80
101
21.0
0.6
7
And
105
145.5
40.5
0.5
4
CSD96
613786
4724463
175
20
70
131.0
19
108.5
89.5
0.8
21
Infill: behind CSD93
Inc
88
96
8.0
2.3
54
CSD97
613702
4724493
174
20
70
112.6
47
72
25.0
2.7
108
Infill: behind CSD98
Inc
58
61
3.0
9.8
475
CSD98
613709
4724513
175
20
70
143.8
29
63.5
34.5
1.1
43
Infill: behind CSD99
Inc
48
60
12.0
2.1
75
CSD99
613716
4724535
178
20
70
140.9
36
110
74.0
0.9
17
Infill: behind CSD100
Inc
82
83
1.0
11.1
102
CSD100
613724
4724557
180
20
70
132.0
3.5
106
102.5
1.0
18
Infill: behind CSD27
Inc
60
80
20.0
2.3
56
CSD101
613740
4724606
184
20
70
130.6
5.7
29
23.3
0.7
6
Infill: updip CSD27
And
67
83
16.0
0.6
11
CSD102
613748
4724631
186
20
70
110.0
20
21
1.0
2.3
16
Infill: updip CSD101
And
36
40
4.0
0.7
58
CSD103
613767
4724680
187
20
70
110.6
53
75
22.0
0.8
9
Infill: updip CSD26
And
83.5
89.5
6.0
1.6
20
CSD104
613711
4724668
191
20
70
102.0
39
71
32.0
0.4
22
Infill: updip CSD105
CSD105
613703
4724645
189
20
70
120.4
13
89
76.0
1.3
17
Infill: updip CSD39
Inc
59
60
1.0
35.5
105
CSD106
613686
4724594
184
20
70
137.6
9
113
104.0
1.3
19
Infill: updip CSD37
Inc
27
46
19.0
2.6
48
CSD107
613665
4724543
183
20
70
146.1
31
64
33.0
0.9
35
Infill: updip CSD38
CSD108
613651
4724506
179
20
70
104.0
29
63.5
34.5
2.2
60
Infill: updip CSD82
Inc
52
58
6.0
6.1
155
CSD109
613668
4724707
185
20
70
101.6
24
30
6.0
0.9
3
Infill: updip CSD33
CSD110
613653
4724657
187
20
70
120.0
9.35
13
3.7
0.6
7
Infill: updip CSD36
And
87
106
19.0
0.4
14
CSD111
613620
4724571
181
20
70
101.8
37
47
10.0
0.5
33
Infill: updip CSD74
CSD112
613605
4724522
181
20
60
90.0
33
62.3
29.3
0.6
21
Infill: behind CSD74
CSD113
613592
4724489
176
20
60
87.3
8.6
15
6.4
0.9
34
Infill: behind CSD112
And
48
72
24.0
1.2
19
Inc
61
62
1.0
11.4
69
CSD114
613598
4724656
180
20
70
113.8
51
57
6.0
0.6
33
Infill: updip CSD75
And
68
93
25.0
1.4
142
Inc
92
92.5
0.5
24.1
2520
CSD115
613623
4724731
178
20
70
117.0
3
31
28.0
1.0
19
Exploratory-Northwestern part
And
55.5
66
10.5
0.6
25
CSD118
613386
4724517
158
85
65
93.0
No significant intercept-hole remains in the volcaniclastic
CSD119
613693
4724467
171
20
70
93.0
50
83.2
33.2
0.7
24
Infill: behind CSD98
CSD120
613990
4724364
172
105
60
122.2
47
56
9.0
0.8
4
Exploratory-southeastern part north CSD09
CSD121
613893
4724538
181
85
60
64.6
30
51.6
21.6
1.5
10
Exploratory-southeastern part north CSD20
Inc
31
32
1.0
9.4
21
NB Intervals are weighted averages with 3m maximum < 0.2 g/t Au within the intervals.
* g-m Au [Ag] = downhole intersection in metres x average gold [silver] grade in g/t
Hole locations, intersection highlights and g-m contours for gold and silver are shown on the drill plans (see figures 1 and 2).
Assay histograms for gold and silver are shown on the cross sections.
A report on preliminary metallurgical test work is expected Q1 2011, to be followed by a resource estimate, once all drill results have been modelled.
**ENDS**
For further information please visit website at www.marianaresources.com or contact the following.
John Horsburgh (Chairman)
Mariana Resources Ltd
+61 2 94374588
Glen Parson (CFO)
Mariana Resources Ltd
+612 94374588
Rob Adamson
RFC Corporate Finance Limited (Nomad)
+61 2 9250 0041
Will Souter
RFC Corporate Finance Limited (Nomad)
+61 2 9250 0050
Joe Lunn (Analyst)
FinnCap (Broker)
+44 20 7600 1658
Matthew Robinson
FinnCap (Broker)
+44 20 7600 1658
Felicity Edwards
St Brides Media and Finance Ltd (PR)
+44 20 7236 1177
Hugo de Salis
St Brides Media and Finance Ltd (PR)
+44 20 7236 1177
ADDITIONAL INFORMATION
Drilling is being undertaken by ECOMINERA.
The drill programme is being directed by the Argentina Exploration Manager, Dr Gustavo Rodriguez under supervision of Executive Chairman Mr John Horsburgh.
Exploration information in this announcement has been compiled by John Horsburgh who is a Fellow of the Australasian Institute of Mining and Metallurgy.
Mr Horsburgh has sufficient experience relevant to the style of mineralization and types of gold deposit under consideration and to the activity that he is undertaking to qualify as a Competent Person as defined in the JORC Code.
Quality Assurance/Quality Control
All technical information for the Companys Argentina projects is obtained and reported under a quality assurance and quality control (QA/QC) program.
All samples are collected under the supervision of the Company geologists and dispatched via commercial transport to ALS Chemex laboratories in Mendoza, Argentina, and assayed in Santiago de Chile.
ALS Chemexs quality system complies with the requirements for the International Standards ISO 9001:2000 and ISO 17025: 1999.
Samples returning greater than 10 g/t gold and/or greater than 100 g/t silver are assayed using gravimetric analyses.
Systematic assaying of sample duplicates and commercially prepared standards and blanks is performed for analytical reliability.
About Mariana Resources
Mariana Resources Ltd is an AIM quoted exploration and development company with an extensive portfolio of gold, silver and copper projects in Argentina and Chile.
In Southern Argentina, in addition to the Las Calandrias gold-silver discovery, the Company has the Sierra Blanca silver-gold prospect (70%); the Los Amigos joint venture (49%) with Hochschild Mining and a 160,000 Ha land package (100%).
All of these projects are located in the Deseado Massif epithermal gold-silver district in mining-friendly Santa Cruz province of southern Argentina, which hosts four mines and several advanced projects.
In Chile, Mariana has a joint venture with US based international mining and natural resources company Cliffs Natural Resources Inc., to explore for Iron Oxide-Copper-Gold deposits (IOCG) in a 92,000 km area (SCM Mariana Area) in north-central Chile along the highly prospective Atacama Fault Zone.
The SCM Mariana Area includes the 44km Buenaventura and 46km Perro Chico IOCG projects.
Mariana is also evaluating a number of gold-silver and copper-gold opportunities away from the Cliffs JV area, as part of a new initiative.
Felicity Edwards
St Brides Media and Finance Ltd
Chaucer House
38 Bow Lane
London
EC4M 9AY
Tel: +44 (0) 207 236 1177
Mob: +44 (0) 7748 843871
Fax: +44 (0) 207 236 1188
Email:
Web: www.stbridesmedia.co.uk