Mariana Resources Ltd : Drilling to Commence a
3/31/2016
Mariana Resources Ltd : Drilling to Commence a... | FE InvestEgate
Mariana Resources Ltd
Mariana Resources Ltd : Drilling to Commence a... AIM: MARL
Suite 102, 3 Eden Street North Sydney, NSW 2060 31 March 2016 Australia Drilling to Commence at the Doña Ines GoldSilver and Exploradora East Copper Prospects, Northern Chile Mariana Resources Ltd ("Mariana" or the "Company"), the AIM listed exploration and development company with projects in Turkey and South America, is pleased to advise that drilling is scheduled to commence at the Company's Doña Ines goldsilver and the adjacent Exploradora East copper prospects, in northern Chile, in April. The initial drill programs at Doña Ines and Exploradora East form part of the Phase I work commitment as outlined in the Option Agreement between Mariana and Asset Chile Exploración Minera Fondo de Inversión Privado ("Asset"), through which Asset holds a staged option to earn up to a 50% interest in the two properties in return for a total investment of USD 1.65M (refer to Mariana's News Release on July 11, 2015). The drill contractor selected for the Reverse Circulation ("RC") drill program is Copiapobased Terraservice. Chief Executive Officer Glen Parsons today commented: "Whilst Hot Maden is in development, Mariana continues work on its highly prospective exploration portfolio to assess the potential for scalable and economic mineralisation." "The anticipated RC drill program in northern Chile, which is funded by Asset under the earn in, is due to commence shortly with the objective of confirming the potential for a high sulphidation gold silver deposit at Dona Ines and, 20 km to the north, at Exploradora East we are seeking a concealed porphyry copper system. We anticipate drilling to commence by midApril 2016 with assay results due later in May and I look forward to updating shareholders on these results as well as keeping the market abreast of developments at the high grade gold and copper Hot Maden Project." Exploration activities undertaken to date at Doña Ines have focused principally on geology and surface geochemical sampling, with silicaclay alteration and strong goldsilverarsenicmolybdenum surface geochemistry suggesting the presence of a high sulfidationtype epithermal goldsilver system. In addition, a recentlycompleted ground geophysical survey (Gradient Array Induced Polarisation / Resistivity and MagnetoTellurics) at Doña Ines was successful in defining moderately resistive areas interpreted to represent zones of silicification associated with precious metals mineralisation. At Exploradora East, the primary target lies beneath a shallow, post mineralisation ignimbrite cover, but is reflected on surface by strong coppermolybdenum geochemical anomalies along north eastsouth west trending corridors. These corridors are interpreted to represent conduits which "tap in" to underlying coppermolybdenum porphyry mineralisation. No historical drilling has been encountered on either property. An overview of the exploration activities completed and drill targets to be tested at Doña Ines and Exploradora East is presented below: Prospect
Target
Location
Drill Target Generation
Doña Ines
(Oxidised) High Sulfidation Epithermal Gold Silver Deposit
20km west of Goldfields' Salares Norte GoldSilver Deposit (23.3Mt @ 4.2g/t Au + 44 g/t Ag for 3.1Moz Au + 34Moz Ag; Inferred Resource at May, 2014). Miocene age volcanic arc.
Ground geophysics (Gradient Array Induced Polarisation / Resistivity and MagnetoTelluric Surveys), combined with strong goldsilver arsenicmolybdenum surface geochemistry and high level silicaclay hydrothermal alteration.
http://www.investegate.co.uk/ArticlePrint.aspx?id=20160331070149H9105
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3/31/2016
Mariana Resources Ltd : Drilling to Commence a... | FE InvestEgate
Exploradora EoceneOligocene 60km north east of East CODELCO's El Salvador age Porphyry Copper Mine Copper Deposit under shallow, post mineralisation ignimbrite cover
Strong coppermolybdenum surface geochemistry in north east south west structural corridors in ignimbrite. Potential "leakage" from underlying copper molybdenum deposit.
Further technical details on the Doña Ines and Exploradora East projects are available at: 1. Link to Dona Ines section on website: http://marianaresources.com/projects/donainesgoldsilverproject/ 2. Link to Exploradora East section on website: http://marianaresources.com/projects/exploradoraeast copperproject/ The funds being provided by Asset are part of the "Fenix" fund program which was launched in 2011 by the Chilean government in order to provide risk capital financing for exploration on projects located within Chile. The fund originally had approximately USD150M available, with approximately twothirds of this amount being provided by the Chilean government (through development agency Corfo) and the remaining onethird from private investors. Asset is one of six investment fund managers participating in the Fenix program. **ENDS** Qualified Person The information in this release has been reviewed by Eric Roth, Chief Operating Officer and Executive Director of Mariana Resources. Mr Roth holds a Ph.D. in Economic Geology from the University of Western Australia, is a Fellow of the Australian Institute of Mining and Metallurgy (AusIMM), and is a Fellow of the Society of Economic Geologists (SEG). Mr Roth has 25 years of experience in international minerals exploration and mining project evaluation. For further information please visit website at www.marianaresources.com or contact the following. In Australia:
Glen Parsons (CEO) Mariana Resources Ltd
+61 2 9437 4588
Eric Roth (COO)
Mariana Resources Ltd
+56 9 8818 1243
Rob Adamson
RFC Ambrian Limited (Nomad)
+61 2 9250 0041
Will Souter
RFC Ambrian Limited (Nomad)
+61 2 9250 0050
In U.K.
Oliver Stansfield
Brandon Hill Capital (UK Broker) +44 20 3463 5061
Jonathan Evans
Brandon Hill Capital (UK Broker) +44 20 3463 5016
Camilla Horsfall
Blytheweigh (Financial PR)
+44 20 7138 3224
Megan Ray
Blytheweigh (Financial PR)
+44 20 7138 3203
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 South America and Turkey. Mariana's most advanced asset is the Hot Maden goldcopper project in NE Turkey, which is a joint venture with our Turkish JV partner Lidya (30% Mariana and 70% Lidya). 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 goldcopper project. In Suriname, Mariana has an option to earn up to a 50.01% interest in Nassau Gold Limited, a JV company between Mariana and Sumin Resources Limited ("Sumin") which in turn holds an option to earn up to 80% of the Nassau Gold Project. The Nassau Gold Project is a 28,000 Ha exploration concession located approximately 125 km SE of the capital Paramaribo and immediately adjacent to Newmont Mining's 4.2Moz Au Merian project. In southern Argentina, the Company's core goldsilver 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 goldsilver district in miningfriendly Santa Cruz Province. Mariana acquired 100% interests in the Doña Ines AuAg and Exploradora East Cu 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 Peru, Mariana holds a portfolio of interesting very early stage properties. http://www.investegate.co.uk/ArticlePrint.aspx?id=20160331070149H9105
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3/31/2016
Mariana Resources Ltd : Drilling to Commence a... | FE InvestEgate
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients. The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Mariana Resources Ltd via Globenewswire HUG#1999105
http://www.investegate.co.uk/ArticlePrint.aspx?id=20160331070149H9105
3/3
Mariana Resources Ltd : Drilling to Commence a... | FE InvestEgate
Mariana Resources Ltd
Mariana Resources Ltd : Drilling to Commence a... AIM: MARL
Suite 102, 3 Eden Street North Sydney, NSW 2060 31 March 2016 Australia Drilling to Commence at the Doña Ines GoldSilver and Exploradora East Copper Prospects, Northern Chile Mariana Resources Ltd ("Mariana" or the "Company"), the AIM listed exploration and development company with projects in Turkey and South America, is pleased to advise that drilling is scheduled to commence at the Company's Doña Ines goldsilver and the adjacent Exploradora East copper prospects, in northern Chile, in April. The initial drill programs at Doña Ines and Exploradora East form part of the Phase I work commitment as outlined in the Option Agreement between Mariana and Asset Chile Exploración Minera Fondo de Inversión Privado ("Asset"), through which Asset holds a staged option to earn up to a 50% interest in the two properties in return for a total investment of USD 1.65M (refer to Mariana's News Release on July 11, 2015). The drill contractor selected for the Reverse Circulation ("RC") drill program is Copiapobased Terraservice. Chief Executive Officer Glen Parsons today commented: "Whilst Hot Maden is in development, Mariana continues work on its highly prospective exploration portfolio to assess the potential for scalable and economic mineralisation." "The anticipated RC drill program in northern Chile, which is funded by Asset under the earn in, is due to commence shortly with the objective of confirming the potential for a high sulphidation gold silver deposit at Dona Ines and, 20 km to the north, at Exploradora East we are seeking a concealed porphyry copper system. We anticipate drilling to commence by midApril 2016 with assay results due later in May and I look forward to updating shareholders on these results as well as keeping the market abreast of developments at the high grade gold and copper Hot Maden Project." Exploration activities undertaken to date at Doña Ines have focused principally on geology and surface geochemical sampling, with silicaclay alteration and strong goldsilverarsenicmolybdenum surface geochemistry suggesting the presence of a high sulfidationtype epithermal goldsilver system. In addition, a recentlycompleted ground geophysical survey (Gradient Array Induced Polarisation / Resistivity and MagnetoTellurics) at Doña Ines was successful in defining moderately resistive areas interpreted to represent zones of silicification associated with precious metals mineralisation. At Exploradora East, the primary target lies beneath a shallow, post mineralisation ignimbrite cover, but is reflected on surface by strong coppermolybdenum geochemical anomalies along north eastsouth west trending corridors. These corridors are interpreted to represent conduits which "tap in" to underlying coppermolybdenum porphyry mineralisation. No historical drilling has been encountered on either property. An overview of the exploration activities completed and drill targets to be tested at Doña Ines and Exploradora East is presented below: Prospect
Target
Location
Drill Target Generation
Doña Ines
(Oxidised) High Sulfidation Epithermal Gold Silver Deposit
20km west of Goldfields' Salares Norte GoldSilver Deposit (23.3Mt @ 4.2g/t Au + 44 g/t Ag for 3.1Moz Au + 34Moz Ag; Inferred Resource at May, 2014). Miocene age volcanic arc.
Ground geophysics (Gradient Array Induced Polarisation / Resistivity and MagnetoTelluric Surveys), combined with strong goldsilver arsenicmolybdenum surface geochemistry and high level silicaclay hydrothermal alteration.
http://www.investegate.co.uk/ArticlePrint.aspx?id=20160331070149H9105
1/3
3/31/2016
Mariana Resources Ltd : Drilling to Commence a... | FE InvestEgate
Exploradora EoceneOligocene 60km north east of East CODELCO's El Salvador age Porphyry Copper Mine Copper Deposit under shallow, post mineralisation ignimbrite cover
Strong coppermolybdenum surface geochemistry in north east south west structural corridors in ignimbrite. Potential "leakage" from underlying copper molybdenum deposit.
Further technical details on the Doña Ines and Exploradora East projects are available at: 1. Link to Dona Ines section on website: http://marianaresources.com/projects/donainesgoldsilverproject/ 2. Link to Exploradora East section on website: http://marianaresources.com/projects/exploradoraeast copperproject/ The funds being provided by Asset are part of the "Fenix" fund program which was launched in 2011 by the Chilean government in order to provide risk capital financing for exploration on projects located within Chile. The fund originally had approximately USD150M available, with approximately twothirds of this amount being provided by the Chilean government (through development agency Corfo) and the remaining onethird from private investors. Asset is one of six investment fund managers participating in the Fenix program. **ENDS** Qualified Person The information in this release has been reviewed by Eric Roth, Chief Operating Officer and Executive Director of Mariana Resources. Mr Roth holds a Ph.D. in Economic Geology from the University of Western Australia, is a Fellow of the Australian Institute of Mining and Metallurgy (AusIMM), and is a Fellow of the Society of Economic Geologists (SEG). Mr Roth has 25 years of experience in international minerals exploration and mining project evaluation. For further information please visit website at www.marianaresources.com or contact the following. In Australia:
Glen Parsons (CEO) Mariana Resources Ltd
+61 2 9437 4588
Eric Roth (COO)
Mariana Resources Ltd
+56 9 8818 1243
Rob Adamson
RFC Ambrian Limited (Nomad)
+61 2 9250 0041
Will Souter
RFC Ambrian Limited (Nomad)
+61 2 9250 0050
In U.K.
Oliver Stansfield
Brandon Hill Capital (UK Broker) +44 20 3463 5061
Jonathan Evans
Brandon Hill Capital (UK Broker) +44 20 3463 5016
Camilla Horsfall
Blytheweigh (Financial PR)
+44 20 7138 3224
Megan Ray
Blytheweigh (Financial PR)
+44 20 7138 3203
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 South America and Turkey. Mariana's most advanced asset is the Hot Maden goldcopper project in NE Turkey, which is a joint venture with our Turkish JV partner Lidya (30% Mariana and 70% Lidya). 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 goldcopper project. In Suriname, Mariana has an option to earn up to a 50.01% interest in Nassau Gold Limited, a JV company between Mariana and Sumin Resources Limited ("Sumin") which in turn holds an option to earn up to 80% of the Nassau Gold Project. The Nassau Gold Project is a 28,000 Ha exploration concession located approximately 125 km SE of the capital Paramaribo and immediately adjacent to Newmont Mining's 4.2Moz Au Merian project. In southern Argentina, the Company's core goldsilver 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 goldsilver district in miningfriendly Santa Cruz Province. Mariana acquired 100% interests in the Doña Ines AuAg and Exploradora East Cu 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 Peru, Mariana holds a portfolio of interesting very early stage properties. http://www.investegate.co.uk/ArticlePrint.aspx?id=20160331070149H9105
2/3
3/31/2016
Mariana Resources Ltd : Drilling to Commence a... | FE InvestEgate
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients. The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Mariana Resources Ltd via Globenewswire HUG#1999105
http://www.investegate.co.uk/ArticlePrint.aspx?id=20160331070149H9105
3/3
