Northland Capital partners view on Mariana Resources LON:MARL: The southern area of Hot Maden is now a significant exploration target for Mariana Resources and its joint venture partner Lidya. The Company has defined multiple narrow ultra-high-grade quartz sulphide veins similar in style to what was previously mined in the 1920’s. The southern area now represents another level of upside beyond the resource expansion drilling located in closer proximity to the existing resource base. Drilling continues both on the southern area and in and around the existing mineral resource area and the Company will provide further updates in due course.
| Assay results from holes HTD-51 to HTD-52 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| n HTD-52, which lies outside the existing mineral resource estimate and140m down dip of HTD-04, contained 31.5m at 4.4g/t Au and 0.77% Cu from 262m and 18.5m at 2.24% Cu and 18.5m at 2.24% Cu and 0.4g/t Au from 295m.
n In the southern target area, located around 400m south of the existing mineral resource estimate, two holes returned high-gold assay results with; 40.5m at 8.8g/t Au, 0.77% from 158m (HTD-53) 1m at 90.1g/t Au from 163m (HTD-51) and 1m at 22.9g/t Au from 117m (HTD-51). n No change to forecasts, rating or price target. |
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Source: Northland Capital Partners Limited. *Northland provides commissioned research coverage † assumes a £2m equity financing at current market price
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