Mariana Resources Limited LON:MARL, 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.
Highlights:
-- Exceptional gold-copper (Au-Cu) grades continue to be returned from
drilling along two infill cross sections (4,542,125N and 4,542,225N;
Figures 3 & 4). This infill drilling continues to confirm the internal
continuity of Au-Cu mineralisation, including the high grade, within the
Main Zone resource area. Best results include:
Infill Section 4,542,125N
HTD-85*: 60.6 m @ 82.2 g/t Au + 1.44% Cu from 209.4m
downhole**.
This mineralised zone (approximate true width 35m) is the best
intersection to date and includes the following subintervals:
209.4-229m: 19.6m @ 248 g/t Au + 1.90% Cu ("Ultra high grade zone")
229-248m: 19m @ 3.4 g/t Au + 1.21% Cu ("Medium grade")
248-270m: 22m @ 1.6 g/t Au + 1.19% ("Low grade zone")
HTD-82 31m @ 17.0 g/t Au + 1.70% Cu from 266m downhole.
And 37.5m @ 2.1 g/t Au + 1.49% Cu from 317m downhole.
(approximate true width of Au-Cu zone 38m)
Infill Section 4,542,175N
HTD-78: 79.0m @ 14.3 g/t Au +1.59% Cu from 294m downhole.
Including 18.0m @ 55.1 g/t Au + 1.58% Cu from 296m downhole.
(approximate true width of Au-Cu zone 30m)
Infill Section 4,542,225N
HTD-77: 90m @ 22.6 g/t Au + 4.39% Cu from 96m downhole.
Including 11m @ 30.9 g/t Au + 6.30% Cu from 99m downhole.
(approximate true width of Au-Cu zone 76m)
HTD-75: 62m @ 11.7 g/t Au + 1.43% Cu from 276m downhole.
Including 2.0m @ 250 g/t Au + 6.50% Cu from 282m downhole.
And 44.0m @ 1.05 g/t Au +1.46% Cu from 334m downhole.
(approximate true width of Au-Cu zone 40m)
-- Potential for the discovery of a deep (>250m), possible fault offset
block of Main Zone-type mineralisation beneath the "Ridge" area (southern
limit of the Main Zone resource) continues to be tested, with drill hole
HTD-80 successfully intersecting multiple zones of high grade Au and Cu
mineralisation at depth. Host rocks to this mineralization are brecciated
andesites - similar to the host rocks in the Main Zone resource - which
lie immediately to the east of the dominant dacitic breccias. Key
results include:
HTD-80: 4.5m @ 16.3 g/t Au + 1.90% Cu from 177.5m
downhole.
5.0m @ 8.4 g/t Au + 1.30% Cu from 194.0m downhole.
-- Encouraging assays continue to be returned from limited discovery
drilling in the Southern Vein Field. Highlights include 3m @ 9.6 g/t Au +
1.73% Cu in HTD-79 and 10.5m @ 4.9 g/t Au + 1.9% Cu in HTD-81.
-- The Preliminary Economic Assessment (PEA) is in the process of being
finalised with an anticipated completion date expected early in the New
Year.
* Twin of HTD-71
** Note - all intersections quoted are as metres downhole.
Links to Figures:
http://media.wix.com/ugd/24ee23_be0f968ffd40476485eb09220fc8292c.pdf
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."
Hot Maden Gold-Copper Project Update
Approximately 18,500 m of diamond drilling has been completed at the Hot
Maden Project during 2016 (Figure 1 and 2). Recent drilling activities
have dominantly focused on: -
-- Infill drilling on 25m centres along sections 4,542,125N, 4,542,175N, and
4,542,225N. Selected holes have been utilised for geotechnical studies
and metallurgical testwork.
-- Deeper "step out" drilling to the east in the so-called "Ridge" area,
which is located at the current southern limit of the Main Zone resource,
and scout drilling of the Southern Vein Field (the northern extension of
the area mined by Russian interests pre-1923).
No significant work has yet been undertaken in the area of the former
Russian mines (Figure 1).
Main Resource Area - Infill Drilling
Drilling advanced on 25m centres along infill cross sections 4,542,125N,
4,542,175N and 4,542,225N, within the Main Zone resource area, with the
program being designed to confirm internal continuity of the high-grade
Au-Cu mineralisation. Certain holes were also selected for further
geotechnical logging and metallurgical sampling.
On section 4,542,225N (Figure 3), HTD-77 returned high grade Au-Cu
mineralisation (90m @ 22.6 g/t Au + 4.39% Cu from 96m downhole), from an
upper massive sulphide (pyrite-chalcopyrite) zone and lower multiphase,
chalcopyrite-pyrite-hematite-jasper-bearing breccia. The deeper hole
HTD-75 returned two mineralised intervals (62m @ 11.7 g/t Au + 1.43% Cu
from 276m downhole and 44m @ 1.0 g/t Au + 1.46% Cu from 344m downhole),
both intercepts in multiphase,
chalcopyrite-pyrite-hematite-jasper-bearing breccias. On section
4,542,175N, drill hole HTD-78 also intersected an impressive 79m @ 14.3
g/t Au +1.59% Cu from 294m downhole, with mineralisation being
associated with multiphase, sulphide-bearing breccias.
Initial drilling along infill section 4,542,125N (Figure 4) included
holes HTD-82 and HTD-85. Exceptional Au-Cu grades were returned from
HTD-85, which intersected 60.6m of 82.2 g/t Au + 1.44% Cu from 209.4m
downhole in multiphase, chalcopyrite-pyrite-hematite-jasper-bearing
breccias. This mineralised interval includes an "Ultra high grade zone"
of 19.6m @ 248.3 g/t Au + 1.90% Cu from 209.4m downhole, a "Medium
grade" zone of 19m @ 3.4 g/t Au + 1.21% Cu for 229m downhole, and a "Low
grade zone" of 22.0m @ 1.6 g/t Au + 1.19% Cu from 248m downhole. This
was drilled as a twin of HTD-71 for metallurgical sampling. Drill hole
HTD-82 intersected two main mineralised intervals: 31m @ 17.0 g/t Au +
1.70% Cu from 266m downhole and 37.5m @ 2.1 g/t Au + 1.49% Cu from 317m
downhole.
Main Resource Area - Extension Drilling ("Ridge" Area)
Two new drill holes (HTD-80 and HTD-86) were completed in the "Ridge"
area, located at the southern limit of the Main Zone resource); HTD-80
successfully intersected high grade Au-Cu mineralization at depth
whereas HTD-86 remained in the adjacent zinc zone. High grade Au-Cu
intervals returned from HTD-80 include: 4.5m @ 16.3 g/t Au + 1.90% Cu
(177.5-182m), 1m @ 6.4 g/t Au + 0.30% Cu (189-190m), and 5m @ 8.4 g/t Au
+ 1.30% Cu (194-199m). The target here continues to be a block of fault
offset, Main Zone-type mineralisation located to the east of the
existing drilling, and this hypothesis will be tested as a priority in
future drilling.
Southern Vein Field / HTD 27 Area
Only two drill holes were completed in the Southern target area (the
northern extension of the area mined by Russian interests prior to 1923)
during this reporting period, with encouraging values continuing to be
returned from quartz-sulphide veinlet/breccia zones hosted in dacitic
breccias and volcanic rocks. Highlights from the current drilling
include: 3m @ 9.6 g/t Au + 1.73% Cu (144-147m) and 9m @ 3.6 g/t Au +
0.77% Cu (185-194m) in HTD-79, and 2m @ 5.4 g/t Au (128-130m) and 10.5m
@ 4.9 g/t Au + 1.90% Cu (184.5-195m) in HTD-81.
Table 1: Summary of assays for drill holes HTD-75 and HTD-77 to HTD-86,
plus sulphide-bearing intercepts in drill holes HTD-88 to HTD-93 (Cross
Sections listed from North to South)
From To Intercept
Drill Hole (m) (m) (m) Au g/t Cu % Zn % Comments
Cross
Section 4,542,225N (Main Zone) Figure 2,3
HTD-75 79.0 80.5 1.5 - - 5.04 Zinc Zone
88.0 94.0 6.0 - - 1.76
98.0 118.0 20.0 - - 1.94
228.0 232.0 4.0 - - 10.9
276.0 338.0 62.0 11.7 1.43 - Au-Cu Zone
Including 282.0 284.0 2.0 250.0 6.50 -
334.0 388.0 44.0 1.05 1.46 -
HTD-77 46.0 52.0 6.0 - - 3.55 Zinc Zone
96.0 186.0 90.0 22.6 4.39 - Au-Cu Zone
Including 99.0 110.0 11.0 30.9 6.30 -
120.0 151.0 31.0 0.5 7.10 -
HTD-88 324.0 367.0 43.0 Pending Step back to HTD-75
381.0 393.0 12.0 Pending
427.5 452.0 24.5 Pending
HTD-90 251.3 331.0 79.7 Pending Met Hole
Cross
Sections 4,542,175N (Main Zone) Figure 2
HTD-78 156.4 162.0 5.6 - - 2.52 Zinc Zone
231.0 232.0 1.0 - - 5.60
248.5 250.0 1.5 - - 4.40
264.0 274.0 10.0 - - 9.96
294.0 373.0 79.0 14.3 1.59 - Au-Cu Zone
Including 296.0 314.0 18.0 55.1 1.58 -
Cross
Section 4,542,125N (Main Zone) Figure 2, 4
HTD-82 209.0 217.0 8.0 0.8 - 10.9 Au-Zn Zone
239.0 244.0 4.0 - - 5.57 Zinc Zone
266.0 297.0 31.0 17.0 1.70 - Au-Cu Zone
Including 272.0 286.0 14.0 32.1 1.26 -
317.0 354.5 37.5 2.1 1.49 -
HTD-85 100.0 102.0 2.0 - - 3.86 Zinc Zone
161.0 164.5 3.5 - - 2.30
209.4 270.0 60.6 82.2 1.44 - Au-Cu Zone
Including 209.4 229.0 19.6 248.3 1.90 -
229.0 248.0 19.0 3.4 1.21
248.0 270.0 22.0 1.6 1.19
274.0 289.0 15.0 0.3 1.60 -
HTD-89 306.0 320.0 14.0 Pending Step-back to HTD-82
350.0 379.0 29.0 Pending
379.0 445.0 66.0 Pending
HTD-91 217.0 225.0 8.0 Pending Step-forward to HTD-85
Cross
Section 4,542,100N, (Main Zone) Figure 2
HTD-83 15.0 32.0 17.0 1.40 - 2.69 Au-Zn Zone
37.0 46.0 9.0 0.7 - -
HTD-84 84.0 86.3 2.3 1.0 - - Au-Zn Zone
HTD-87 135.0 156.0 21.0 - - 2.0 Zinc Zone
Cross
Sections 4,542,000N, 4,542,050N (Ridge Area) Figure 2
HTD-80 177.5 182.0 4.5 16.3 1.90 - Au-Cu Zone
189.0 190.0 1.0 6.4 0.30 -
194.0 199.0 5.0 8.4 1.30 -
205.0 206.0 1.0 47.0 3.73 -
207.0 208.0 1.0 12.0 0.66 -
HTD-86 320.0 324.0 4.0 0.6 - 7.97 Zinc Zone
Multiple veinlet /
HTD-92 breccia zones Pending Quartz vein zone (dacite)
Multiple veinlet /
HTD-93 breccia zones Pending Quartz vein zone (dacite)
Cross 4,541,900N and 4,541,750N (Southern
Sections Vein Field) Figure 2
HTD-79 144.0 147.0 3.0 9.6 1.73 - Quartz vein zone (dacite)
172.0 185.0 13.0 1.0 0.10 -
185.0 194.0 9.0 3.6 0.77 -
Step back to HTD-53
HTD-81 128.0 130.0 2.0 5.4 - - Quartz vein zone (dacite)
184.5 195.0 10.5 4.9 1.90 -
Including 193.0 194.0 1.0 15.1 1.69 -
247.0 248.0 1.0 7.8 0.30 -
277.0 292.0 15.0 1.9 0.50 -
301.0 324.0 23.0 0.4 - 2.90 Au-Zn Zone
368.0 395.0 27.0 - - 1.30 Zinc Zone
