Mariana Engages RungePincockMinarco to Complete a Preliminary Economic
Assessment for the High Grade Gold-Copper Hot Maden Project
Mariana Resources Ltd the AIM listed
exploration and development company with projects in Turkey and South
America, is pleased to announce that it has engaged RungePincockMinarco
("RPM"), a global leader in mining advisory and consulting services, to
complete a National Instrument 43-101 ("NI 43-101") compliant
Preliminary Economic Assessment ("PEA"*) for the Hot Maden gold-copper
project.
The PEA study is currently scheduled for completion late-Q3/early Q4
2016 and will incorporate the updated Mineral Resource Estimate required
for the Company's TSX.V listing, which is expected to be completed by
RPM by end June / early July.
Chief Executive Officer, Glen Parsons, today commented:
"The completion of the PEA will be a truly defining milestone for
Mariana and the Hot Maden project:
-- It will represent the first integrated PEA-level evaluation of
development options and financial modelling of the Hot Maden deposit for
life of mine. The study will focus on low footprint sustainable mining
options, adopting first class international technical and environmental
standards specific and appropriate for the Hot Maden Project.
-- The PEA will be the first publicly avaliable independent and
comprehensive economic study for Hot Maden, which will define a
quantifiable net present value for life of mine.
"This initial PEA study will give our shareholders and the market a
better understanding of the significance of this high grade Gold and
Copper Hot Maden Project as we continue to advance along the project
development curve."
* A "PEA" is a study other than a pre-feasibility study or feasibility
study which includes an economic analysis of the potential viability of
mineral resources - Canadian Securities Administrators (CSA)
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