OREANDA-NEWS. Mariana Resources Ltd ('Mariana' or 'the Company'), the AIM listed exploration and development company with projects in Turkey and South America, is pleased to report the following update on the ongoing diamond drill program at the high grade Hot Maden project. Results are presented for drill holes HTD-51 to HTD-53 (Figures 1 and 2), together with an update on new drilling in progress.

Highlights:

  • High grade gold-copper mineralization has been confirmed in the chalcopyrite-pyrite-bearing breccia from 262m downhole in hole HTD-52, 140m downdip of the discovery hole HTD-4 intersection. This new extension lies outside the current mineral resource model and is therefore expected to provide a positive contribution to the next mineral resource update.   

HTD-52                 31.5m @ 4.4 g/t Au + 0.77% Cu from 262m, and
 18.5m @ 0.4 g/t Au + 2.24% Cu from 295m

  • Exceptional gold-copper assays have been returned from exploration drilling in the southern target area, located 400m south of the existing resource area and within the northern extension to the pre-1923 vein mining area.

HTD-53                 40.5m @ 8.8 g/t Au + 0.77% Cu from 158.0m downhole
Including 12m @ 22.2 g/t Au + 0.66% Cu from 183.0m downhole

HTD-51                 1.0m @ 90.1 g/t Au from 163.0m downhole;- and
1.0m @ 22.9 g/t Au from 117.0 m downhole

Previously released higher grade intersections in this lightly drilled area include:

HTD-25                25.2m @ 7.3 g/t Au + 0.47% Cu from 42.8m;- and

23.5m @ 3.8% Zn from 80.5m

HTD-27                39m @ 5.8 g/t Au + 0.7% Cu from 88m;- and

57m @ 0.8 g/t Au + 0.6% Cu + 3.1% Zn from 231m  

  • Mineralisation in drill holes HTD-53 and HTD-51 is dominantly associated with quartz-sulfide veinlet / breccia zones.
  • Drilling underway includes HTD-54, the step-back hole to HTD-52 on section 4,542,250N, and HTD-55, the step-forward hole to HTD-53 on section 4,541,750N.

Chief Executive Officer Glen Parsons today commented:

"The confirmation of these high grades, following visual identification of sulphides, is extremely encouraging both in the current resource area as well as further to the south.  Specifically hole HTD-52 is now confirming the deeper resource extension below discovery hole HTD-04, and holes HTD-51 and HTD-53 highlighting further potential to the south in the new discovery area.

"In the South, we are seeing multiple narrow but extremely high grade quartz sulphide vein and veinlet zones, typical to what was mined by the Russians in the early 1920's, as well as wider zones of well mineralised veinlet / breccia style mineralisation.  The southern area is becoming a priority exploration target as continual high grade mineralisation is intersected.

"Two rigs are currently turning;- one in the immediate vicinity of the resource area for resource extension and infill drilling, to ultimately update the current resource estimate, and the second on the exploration potential to the south. 

"We continue to batch results from drilling and I look forward to updating the market as results become available."