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Mariana Resources Ltd.
Summary
| Project: | Hot Maden | |
|---|---|---|
| Deposit: | Hot Maden | |
| Location: | Turkey | |
| Commodities: | Gold-Copper-Zinc | |
| Date: | 7/25/2016 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 25-7-2016: Mariana Resources Ltd. announces a Resource Estimation report for its Hot Maden deposit at the Hot Maden project. Updated mineral resource estimate for Hot Maden. RungePincockMinarco Limited (“RPM”) was engaged by Mariana Resources Ltd. (“MARL” | |
| Resources: | (Resource): 7.127Mt @ 15.0g/t AuEq. (Ind.) and 0.718Mt @ 3.8g/t AuEq. (Inf.) | |
| CP/QP: | [Resources]: Stewart Coates, Andrew Newell (RungePincockMinarco Ltd.) | |
| ABSTRACT: | RungePincockMinarco Limited (“RPM”) was engaged by Mariana Resources Ltd. (“MARL”, the “Company” or the “Client”) to prepare an updated Technical Report (“TR” or the “Report”) for the Hot Maden Gold-Copper Project (“Project” or “Relevant Asset”), in May and 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. This is an update of the NI 43-101 Report dated 30 September 2015. The Hot Maden Project is located approximately 20km southeast of Artvin and 130km northeast of Erzurum in north-eastern Turkey. This Report has been prepared in accordance with NI 43-101 and discloses a Mineral Resource Estimate (“MRE”) which was prepared in accordance with the guidelines set out in the Joint Ore Reserves Committee (“JORC”) 2012 Code of Practice (“JORC Code”). The Canadian Institute of Mining and Metallurgy (“CIM”) accepts the JORC code as a Foreign Code, which meets the requirements of NI 43-101. There are no material differences between the definitions of Measured, Indicated and Inferred Mineral Resources under the CIM Definition Standards and the equivalent definitions in the JORC Code. The Hot Maden Project is located within Turkish Operating Licence 20050853 and Exploration Licences 201200321, 201201059 and 201201058. The licences are owned by ArtMin Madencilik (formerly AMG Mineral Madencilik AS or “AMG”), the Joint Venture (“JV”) Company that was formed in January, 2016, upon the signing of the Definitive JV and Shareholder Agreement between MARL and private Turkish company Lidya Madencilik (Lidya). Lidya and MARL hold 70% and 30% interests, respectively, in ArtMin Madencilik. | |
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