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Mariana Resources Ltd.
Summary
| Project: | Hot Maden | |
|---|---|---|
| Deposit: | Hot Maden | |
| Location: | Turkey | |
| Commodities: | Gold-Copper-Zinc | |
| Date: | 1/17/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 17-1-2017: Mariana Resources Ltd. announces a PEA report for its Hot Maden deposit at the Hot Maden project. PEA results incl. post tax NPV (8%) of US$1.37B, IRR of 153%. RungePincockMinarco Limited (“RPM”) was engaged by Mariana Resources Ltd. (“MARL”, t | |
| Resources: | (Resource): 7.127Mt @ 15g/t AuEq (Ind.) and 0.718Mt @ 3.8g/t AuEq (Inf.) at Main Zone | |
| CP/QP: | [Resources]: Stewart Ward Coates (RungePincockMinarco Ltd.) | |
| ABSTRACT: | RungePincockMinarco Limited (“RPM”) was engaged by Mariana Resources Ltd. (“MARL”, the “Company” or the “Client”) to prepare a Preliminary Economic Assessment (“PEA”) for the Hot Maden Gold-Copper Project (“Project” or “Relevant Asset”), in June 2016 for the purpose of the Report’s filing on SEDAR in accordance with the requirements of ‘Canadian National Instrument 43-101 (“NI 43-101”) of the Canadian Securities Administrators and the Company’s reporting obligations as a Reporting Issuer in Canada. The Hot Maden Project is located approximately 20 km southeast of Artvin and 130 km northeast of Erzurum in north-eastern Turkey. The Mineral Resource estimate for the Project is classified as Indicated and Inferred Mineral Resource categories as at 22 nd June, 2016. The Mineral Resource has been completed by RPM in accordance with the recommended guidelines of the JORC Code (2012 edition). The classification is based on data quality, sample spacing, and lode continuity. The Mineral Resource is reported at a cut-off grade of 2 g/t Au Equivalent. The high grade nature of the mineralisation and the substantial thickness and size of the deposit suggests that the Project has potential for eventual economic extraction using open pit and/or underground mining techniques. Cut-off grade parameters were selected based on an RPM internal cut-off calculator, which estimated a break-even cut-off grade of 2.1 g/t Au Equivalent, assuming a gold price of USD$1,215 per ounce. The Hot Maden Mineral Resource is separated into the Main deposit and the South deposit at 4,541,955 mN | |
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