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Mariana Resources Ltd.
Summary
| Project: | Hot Maden | |
|---|---|---|
| Deposit: | Hot Maden | |
| Location: | Turkey | |
| Commodities: | Gold-Copper-Zinc | |
| Date: | 12/20/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 20-12-2016: Mariana Resources Ltd. announces an Exploration/Drilling Update report for its Hot Maden deposit at the Hot Maden project. Drilling results incl. 60.6m @ 82.2g/t Au, 1.44% Cu from 209.4m. Mariana Resources Limited ('Mariana' or 'the Company'), | |
| Resources: | ||
| CP/QP: | [Overall Report]: Eric Roth (Internal) | |
| ABSTRACT: | Mariana Resources Limited ('Mariana' or 'the Company'), the TSX.V and AIM (MARL) listed exploration and development company with projects in Turkey, South America, and Ivory Coast, is pleased to provide the following update on the ongoing diamond drill program at the high grade Hot Maden gold-copper project in NE Turkey. Results are reported for a total of 12 infill and extension drill holes (HTD-75 and HTD-77 to HTD-87), with drill log data provided for a further 6 holes (HTD-88 to HTD-93) for which assays are pending. The infill drilling in the Main Zone resource area is focused on section lines 4,542,225N, 4,542,175N, and 4,542,125N. This forms part of a program designed to uniformally reduce drill hole spacings to 25m x 25m and to provide both detailed geotechnical data and metallurgical samples for mine development studies. Only limited drilling was completed in the "Ridge" area (southern limit of the Main Zone resource) and the New Southern Vein Field discovery (Figures 1 & 2) during this reporting period. Chief Executive Officer Glen Parsons today commented: "The continuity of these additional drill results at Hot Maden add further confidence in the main zone, with the 25m infill holes further support continuity of the high grade gold and copper mineralisation. These results all build into the Preliminary Feasibility Study model which is due for completion around mid next year, ultimately paving the way for mine development. "Encouragingly the growth potential for the further extension to the main zone in of the offset block to the south as well as further interesting intercepts in the Sourthern Vein Field discovery area continues to be enhanced. "Planned budgeted drilling for 2017 of 20,000m will be focussed on the areas that have been delivering to date, as well as the untested area to the south, the "Russian Mining area". "The much anticipated PEA, although slightly delayed, is nearing completion and is expected to be delivered early in the New Year. I look forward to updating the market as soon as it is available." | |
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