Mariana Resources Limited the AIM listed
exploration and development company with projects in Turkey and South
America, is pleased to provide the following update on the ongoing
diamond drill program at the high grade Hot Maden gold-copper project.
Results are reported for drill holes HTD-54 to HTD-62.
Highlights:
-- Infill drilling on 25m-centres on section 4,542,200N (main resource area)
has returned the highest grade gold-copper intercepts from Hot Maden to
date and is confirming the internal continuity of gold-copper grades
within the multiphase breccia zone. Results include:
HTD-60: 83.3 m @ 15.9 g/t Au + 1.57% Cu from 167m downhole.
Including 36m @ 17.9 g/t Au + 1.42% Cu from 190m downhole, 3m @ 68.1 g/t
Au + 2.15% Cu from 233m downhole, 3m @ 60.0 g/t Au + 0.99% Cu from 242m
downhole, and 3.3m @ 21.5 g/t Au + 3.77% Cu from 247m downhole.
HTD-62: 95.5m @ 32.1 g/t Au + 3.30% Cu from 36.5m downhole.
Including 36m @ 70.5 g/t Au + 4.10% Cu from 64m downhole.
-- Step back drilling along section 4,542,250N (main resource area)
continues to expand the known resource, with drill hole HTD-54 returning
56m @ 0.8% Cu from 409m downhole.
-- Exploration drilling in the southern target area, located some 400m south
of the main resource area, continues to return exceptional results
including:
HTD-58: 23m @ 16.1 g/t Au + 1.1% Cu from 157m downhole.
1m @ 93.5 g/t Au + 0.46% Cu from 250m downhole.
HTD-61: 2m @ 29.8 g/t Au from 40m downhole.
8.5m @ 11.9 g/t Au + 2.51% Cu from 239m downhole.
-- An updated mineral resource estimate for the Hot Maden Project is now
well advanced and is expected to be completed in early July 2016. Assay
results from drill holes HTD-18 to HTD-62 will be incorporated into the
existing resource model.
* Note - all intersections quoted are as metres downhole.
Links to Figures: http://marianaresources.com/site/media/July_5_Maps.pdf
Chief Executive Officer Glen Parsons today commented:
"I continue to be impressed with the drilling results from the Hot Maden
project which have again produced the highest gold-copper intercepts the
project has seen to date.
"These infill results confirm and give further confidence to the
internal continuity of the high grade gold-copper mineralisation within
the resource area and will certainly contribute positively to the
updated mineral resource estimate due to be completed in July 2016.
"In addition to the main resource area, the Company is continuing its
exploration drilling programme with the focus producing outstanding
results in the southern target area which is some 400m south of the
current resource zone and 500m north of the historic Russian mining
zone. This Russian area will be one of the next step out zones for new
exploration.
"The Company and its joint venture partner Lidya continues to progress
the Hot Maden project up the development and exploration value curve and
I look forward to updating the market in due course."
Hot Maden Gold-Copper Project Update
Recent drilling activities at the Hot Maden project have focused on:-
-- Testing of potential extensions to the known high grade gold-copper
mineral resource,
-- Commencement of infill drilling on 25m-centres within the main resource
area in order to confirm internal continuity of the high grade
gold-copper mineralisation,
-- Scout drilling of the Southern Vein Field (the northern extension of the
area mined by Russian interests pre-1923).
Drilling will be temporarily suspended at Hot Maden during the period
July 1-11, 2016 in recognition of the Bayram holiday season.
Main Resource Area - Infill Drilling
Infill drilling on 25m-centres was recently initiated on section
4,542,200N (main resource area) in order to confirm internal continuity
of the high grade gold-copper mineralisation. Exceptionally high grade,
near surface gold-copper mineralisation was intersected in both drill
holes HTD-62 (95.5m @ 32.1 g/t Au + 3.3% Cu in multiphase,
chalcopyrite-pyrite-hematite-jasper breccia) and HTD-60 (83.3m @ 15.9
g/t Au + 1.57% Cu, also in sulphide-bearing multiphase breccia). Note
that the ultra high grade intersection in HTD-62 is 50m north of a
comparable intersection in HTD-34 (71.0m @ 32.7 g/t Au + 1.9% Cu).
Main Resource Area - Extension Drilling
Drill hole HTD-54 intersected a new, down-dip extension to the known
gold-copper resource on section 4,542,250N. A total of 56m of multiphase,
chalcopyrite-pyrite(-hematite-jasper)-bearing breccia was intersected
from 409m downhole with assays returning 56m @ 0.8% Cu. An additional
drill hole HTD-59 was designed to test the northwestern margin of the
gold-copper resource but succeeded in intersecting zinc mineralisation.
Sourthern Vein Field /HTD 27 Area
Scout drilling continues in the Southern target area (the northern
extension of the area mined by Russian interests prior to 1923), with
exceptional assays having been returned from HTD-58 (23m @ 16.1 g/t Au +
1.10% Cu from 157m downhole and 1m @ 93.5 g/t Au + 0.46% Cu from 250m
downhole) and HTD-61 (2m @ 29.8 g/t Au from 40m downhole and 8.5m @ 11.9
g/t Au + 2.51% Cu from 239m downhole). Further systematic work is
currently scheduled to be undertaken in the immediate area in order to
fully test the resource potential of this sector.
Mineral Resource Update
An updated mineral resource estimate for the Hot Maden Project, which
will incorporate assay results obtained from drill holes HTD-18 up to
HTD-62 into the existing mineral resource model, is currently expected
to be released in early July, 2016. The updated mineral resource
estimate will be undertaken by RungePincockMinarco, the independent
mining consultants which completed the maiden (August, 2015) mineral
resource estimate for Hot Maden.
Table 1: Summary of assays for drill holes HTD-54 to HTD-62 (Cross
Sections from North to South)
To Intercept Au
Drill Hole From (m) (m) (m) g/t Cu % Zn % Comments
Cross
Sections 4,542,250N and 4,542,280N Figures 2, 3
HTD-54 409.0 465.0 56.0 - 0.80 - Step back to HTD-52
Zinc Zone,
HTD-59 150.0 175.0 25.0 0.5 - 0.62 NW Margin of Main Zone
177.7 182.0 4.3 - 3.09 0.63
194.0 214.0 20.0 - - 1.21
230.0 238.0 8.0 - - 2.75
Cross
Section 4,542,200N Figures 2, 4
Infill hole (Between
HTD-10 and HTD-15),
HTD-60 97.0 102.0 5.0 0.6 - 2.63 Main Zone
111.0 112.0 1.0 4.0 3.51 -
167.0 250.3 83.3 15.9 1.57 -
Including 190.0 226.0 36.0 17.9 1.42 -
233.0 236.0 3.0 68.1 2.15 -
242.0 245.0 3.0 60.0 0.99 -
247.0 250.3 3.3 21.5 3.77 -
Infill hole (Between
HTD-10 and HTD-24, Main
HTD-62 22.0 28.5 6.5 0.8 . 2.54 Zone
36.5 132.0 95.5 32.1 3.30 -
Including 64.0 100.0 36.0 70.5 4.10 -
Cross
Section 4,542,020N and 4,542,050N Figure 2
HTD-56 23.5 27.5 4.0 0.6 - - Ridge Area
38.3 46.0 7.7 0.9 - -
HTD-57 27.0 31.0 4.0 0.4 - 5.63 Ridge Area
52.0 65.0 13.0 0.9 0.41 -
Cross
Section 4,541,875N Figure 2, 5
HTD-58 125.0 131.0 6.0 4.1 0.49 - Step back to HTD-27
143.0 144.0 1.0 3.5 - -
157.0 180.0 23.0 16.1 1.10 -
210.0 213.0 3.0 2.3 0.48 -
250.0 251.0 1.0 93.5 0.46 -
266.0 268.0 2.0 4.4 - -
328.0 330.0 2.0 4.0 - -
Southern
Vein
Field 4,541,700N and 4,541,750N Figures 2, 6
Eastern Margin, Zinc
HTD-55 50.8 54.0 3.2 - - 1.84 Zone
69.0 72.0 3.0 - - 1.82
86.0 100.5 14.5 1.1 - 2.89
Step back to HTD-50 /
HTD-61 40.0 42.0 2.0 29.8 - - HTD-53
62.0 64.0 2.0 3.8 - -
106.0 108.0 2.0 6.5 1.07 -
124.0 126.0 2.0 7.9 - -
146.0 148.0 2.0 3.3 - -
236.0 237.0 1.0 9.6 0.60 -
239.0 247.5 8.5 11.9 2.51 -
Quality Control and Assurance
Mineralised intervals presented in Table 1 are drill intersection widths
and may not represent true widths of mineralisation. Drill core obtained
from the diamond drill program was dominantly HQ-sized core with the
remainder being PQ-sized core. All drill core was photographed and quick
logged prior to sampling. Standard sampling protocol involved the
halving of all drill core and sampling over generally 1 m intervals (in
clearly mineralised sections) or 2 m intervals (elsewhere), with one
half of the core being placed in a sealed sample bag and dispatched to
the analytical laboratory for analysis. Samples have been analysed at
ALS Laboratories' facility in Izmir, western Turkey. All samples have
been analysed for gold using a 30g Fire Assay with AAS finish (or Screen
Fire Assay for higher grade samples), in addition to a 32 element
ICP-AES analysis of an aqua regia digest. Samples in which ICP analyses
returned greater than the maximum detection limit for the elements Ag
(10 ppm), Cu (10,000 ppm), Fe (15%), Pb (10,000 ppm), and Zn (10,000
ppm) were reanalysed using the AAS analytical technique, Standards and
blanks were inserted in to the analytical sequence on the basis of one
standard for every 20 samples, 2 blanks in every batch, and one
duplicate every 40 samples.
Health, Safety, and Environment (HSE)
No HSE incidents have been reported during the current diamond drill
program.
Hot Maden drill holes - technical data
Technical data relating to Hot Maden drill holes HTD-54 to HTD-62 are
given in the following tables.
Main Resource Area - Extension and Infill Drilling
Elevation Dip Depth
Hole ID Easting Northing (m) Azimuth (degrees) (m) Assays
HTD-54 740,472.2 4,542,264.7 875.3 090 -63 336 Complete
HTD-59 740,526.5 4,542,284.8 877.6 088 -59 279 Complete
HTD-60 740,503.2 4,542,203.5 855.3 090 -49 300 Complete
HTD-62 740,580.8 4,542,201.7 862.2 090 -43 141 Complete
Southern Extension / HTD-27 Area / Southern Vein Field
Elevation Dip Depth
Hole ID Easting Northing (m) Azimuth (degrees) (m) Assays
HTD-55 740,552.1 4,541,757.2 885.7 090 -58 180 Complete
HTD-56 740,491.0 4,542,052.8 929.6 090 -60 105 Complete
HTD-57 740,607.3 4,542,023.8 927.8 270 -56 237 Complete
HTD-58 740,450.6 4,541,876.4 910.3 095 -61 360 Complete
HTD-61 740,419.7 4,541,749.8 886.2 090 -64 450 Complete
