OREANDA-NEWS. Mariana Resources Ltd, the AIM listed exploration and development company with projects in Turkey and South America, is pleased to announce that it has engaged RungePincockMinarco ("RPM"), a global leader in mining advisory and consulting services, to complete a National Instrument 43-101 ("NI 43-101") compliant Preliminary Economic Assessment ("PEA"*) for the Hot Maden gold-copper project. 

The PEA study is currently scheduled for completion late-Q3/early Q4 2016 and will incorporate the updated Mineral Resource Estimate required for the Company's TSX.V listing, which is expected to be completed by RPM by end June / early July. 

Chief Executive Officer, Glen Parsons, today commented:

"The completion of the PEA will be a truly defining milestone for Mariana and the Hot Maden project:

  • It will represent the first integrated PEA-level evaluation of development options and financial modelling of the Hot Maden deposit for life of mine. The study will focus on low footprint sustainable mining options, adopting first class international technical and environmental standards specific and appropriate for the Hot Maden Project. 
  • The PEA will be the first publicly avaliable independent and comprehensive economic study for Hot Maden, which will define a quantifiable net present value for life of mine.

"This initial PEA study will give our shareholders and the market a better understanding of the significance of this high grade Gold and Copper Hot Maden Project as we continue to advance along the project development curve."

* A "PEA" is a study other than a pre-feasibility study or feasibility study which includes an economic analysis of the potential viability of mineral resources - Canadian Securities Administrators (CSA)

Mariana Resources Ltd is an AIM quoted exploration and development company with an extensive portfolio of gold, silver and copper projects in South America and Turkey. 

Mariana's most advanced asset is the Hot Maden gold-copper project in north east Turkey, which is a joint venture with its Turkish JV partner Lidya (30% Mariana and 70% Lidya) rapidly advancing to development . A maiden mineral resource estimate of 2.03 Moz gold Equivalent (Indicated Category) and 0.97 Moz gold Equivalent (Inferred Category) (100% basis) was reported for Hot Maden on August 18, 2015. Elsewhere in Turkey, Mariana holds a 100% interest in the Ergama gold-copper project.  

In southern Argentina, the Company's core gold-silver projects are Las Calandrias (100%), Sierra Blanca (100%), Los Cisnes (100%), Bozal (100%). These projects are part of a 160,000+ Ha land package in the Deseado Massif epithermal gold-silver district in mining-friendly Santa Cruz Province.

Mariana acquired 100% interests in the Do?a Ines gold-silver and Exploradora East copper prospects in northern Chile through the Aegean Metals Group transaction which closed in January, 2015, with Mariana exploration now being funded by Asset Chile through the provision of $1.65m for a total 50% interest. 

In Suriname, Mariana has a direct holding of 10.2% of the Nassau Gold project. The Nassau Gold Project is a 28,000 Ha exploration concession located approximately 125 km south east of the capital Paramaribo and immediately adjacent to Newmont Mining's 4.2Moz gold Merian project. 

In Peru, Mariana is focusing on acquiring new opportunities which complement its current portfolio.

RPM is the world's largest publicly traded independent group of mining technical experts, with history stretching back to 1968. RPM has local expertise in all mining regions and is  experienced across all commodities and mining methods. Listed on the Australian Securities Exchange on 27 May 2008, RPM is a global leader in the provision of advisory consulting, technology and professional development solutions to the mining industry. It has expertise in over 118 countries and their approach to the business of mining is strongly grounded in economic principles. RPM operates offices in 18 locations across 12 countries.