South America-focused gold explorer Mariana Resources (LON:MARL, TSE:MRY) has found potentially more gold and silver on its Las Calandrias, Argentina prospect following re-sampling holes previously considered low quality.
Mariana re-sampled 15 of 40 holes and discovered new zones of vein/stockwork gold-silver mineralisation in silicified volcaniclastics.
The mineralisation extends laterally and below the NI 43-101 compliant initial resource of 441,000 gold/silver ounces at the rhyolite-hosted bulk tonnage Calandria Sur prospect, it added.
These holes were previously considered low quality. The best gold intersections included 52m @ 0.5 g/t Au from 8m, 7m @ 0.9 g/t Au from 17m and 8m @ 1.0 g/t Au from 15m.
The Calandria Sur mineralised system now extends over an area of 800m NW-SE by 600m NE-SW and up to 170m below surface, Mariana added.
Intensive further target definition is underway at Las Calandrias with integrated results expected this month and Phase V drilling scheduled by end June and early July.
John Horsburgh, chairman, said, "These positive first results of the re-sampling programme indicate further gold and silver below and adjacent to the Calandria Sur rhyolite dome resource, in rock types initially considered to be barren.
"This, together with numerous volcaniclastic-hosted intersections already reported, greatly enhances the potential to expand the Calandria Sur mineralised system in the next drill programme with a view to increasing the resource."
The Las Calandrias project in the Deseado Massif, Santa Cruz Province in Patagonia, Argentina is estimated to have a preliminary resource of 519,000 ounces of gold equivalent.