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Mariana Resources Ltd.
Summary
| Project: | Hot Maden | |
|---|---|---|
| Deposit: | Hot Maden | |
| Location: | Turkey | |
| Commodities: | Gold-Copper-Zinc | |
| Date: | 3/23/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 23-3-2017: Mariana Resources Ltd. announces an Exploration/Drilling Update report for its Hot Maden deposit at the Hot Maden project. Drilling results incl. 116.5m @ 6.7g/t Au, 1.7% Cu from 244.5m. Mariana Resources Limited ('Mariana' or 'the Company'), t | |
| 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 Côte d'Ivoire, is pleased to provide the following update on the ongoing diamond drill program at the high grade Hot Maden gold-copper project in north east Turkey. Results are reported for a total of 19 new drill holes (HTD-88 to HTD-106), all of which were completed around the Main Zone resource area and the "Ridge Area" (the transitional zone between the Main Zone and new Southern Deposit; Figures 1 & 2). Two of the reported drill holes (HTD-90 and HTD-106) form part of the 25m x 25m infill drill program underway in the Main Zone resource area, with the remainder being step-out holes designed to extend known high grade gold-copper mineralisation. On October 7, 2016, Mariana announced the signing of a binding Term Sheet to acquire an indirect 80% interest in Ivory Coast-focused private exploration company Awalé Resources SARL ("Awalé"). Through the transaction Mariana will gain an immediate foothold in an established exploration portfolio with known gold mineralisation and artisanal gold workings, and which comprises i) 3 granted contiguous licenses (1,191 km2) in the Bondoukou area, and ii) 4 licenses under application (1,593 km2) in both the Bondoukou and Abengourou areas. The Boundoukou concessions lie along the southwestern extension of the Birimian Bole-Nangodi greenstone belt in adjacent Ghana, host to a number of high grade orogenic gold deposits. In southern Argentina, the Company's core gold-silver projects are Las Calandrias (100%), Sierra Blanca (100%), Los Cisnes (100%), and Bozal (100%). These projects are part of a 100,000+ Ha land package in the Deseado Massif epithermal gold-silver district in mining-friendly Santa Cruz Province. 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. | |
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