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Market: MARL
Sector: Gold Mining
Epic: MARL
News: Latest news
Web Site: Mariana Resources
Other Articles: 04-03-201022-02-201027-01-2010

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Tuesday March 16, 11:29Mercator Gold to sell exclusive Copper Flat option to Canada's THEMAC Resources

The deal will allow the group to retain a substantial interest in the promising Mexican copper-gold-molybdenum-silver project without the associated costs.

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Wednesday March 17, 03:46Access Pharmaceuticals’ Cobalamin oral platform could offer new way to administer insulin

This morning, Access Pharma reported that two independent animal studies confirmed earlier findings that Cobalamin offers significant bioavailability of orally delivered insulin

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Monday March 15, 08:01China's growth boosting commodity prices

The latest economic figures from China have put pressure on the dollar and boosted a number of high-yielding currencies, including the Australian dollar and the South African rand.

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Mariana Resources

Mariana Resources

Mariana Resources Ltd is a Guernsey incorporated investment holding company established to acquire potentially large or high value gold and copper-gold prospects in Ecuador, Chile, Argentina and other selected parts of South America.

The Group's strategy is to seek underexplored areas with potential for high grade polymetallic-gold epithermal/skarn mineralisation. Mariana brings to bear considerable field experience in this regard and early recognition of critical geological features is an important aspect.The Mariana Team brings together over 150 years of combined industry experience, with a specific South American focus

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Wednesday, December 23, 2009

Mariana Resources says drilling results at Buenaventura and Perro Chico iron-oxide-copper-gold proje

Mariana Resources (AIM: MARL) announced the results from initial drilling programmes at its Buenaventura and Perro Chico iron-oxide-copper-gold (IOCG) projects in the prospective Atacama region in northern Chile, saying they indicated potential for IOCG mineralisation.

The drilling comprised 2,280m of reverse circulation (RC) drilling and 969m of diamond core drilling on three holes at the Buenaventura project and five holes at the Perro Chico project with all eight holes showing evidence of IOCG style alteration with varying intensity of mineralisation.

Drilling at the Cerro Berta indicated the 4x1 km (kilometre) silica-albite alteration to be strongly anomalous in copper and possibly overlying an IOCG system. Another prospect at the Buenaventura, Cerro Brecha, showed indications of IOCG mineralisation to a depth of 650m on the flank of magnetite-rich andesite breccia body.

A drill hole at the Belleza prospect at the Perro Chico project intersected a 40m mineralised zone averaging 0.56% copper and an underlying 250m zone of intense pyritic mineralisation to the end of the hole at 296m, including 22m at 0.81% copper and 0.15 g/t gold. Other drilling results included 6m at 0.32% copper and 0.44g/t (grammes per tonne) gold, 6m at 0.5% Cu from 106m, including 2m at 1.1% copper, 8m at 0.1% copper and 8m at 0.2% copper.

An international mining company based in the US has been granted a three month exclusive period to negotiate a joint venture (JV) farm-in with Mariana for follow-up exploration at Buenaventura and Perro Chico. Negotiations include a possible alliance focusing on wider IOCG exploration potential in Chile.

“These first drilling results confirm the IOCG potential of the Buenaventura and Perro Chico projects. The current negotiations for a joint venture to follow up exploration at Buenaventura and Perro Chico, together with a possible alliance focussing on wider IOCG exploration potential in Chile, is a very positive development for Mariana which could substantially accelerate its IOCG programme,” said managing director ohn Sutcliffe.

The company will now consider gathering ground magnetic and other geophysics at both projects prior to the next stage of drilling.

Shares in Mariana surged 9.5% on the news.

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