Mariana unveils positive results from Soledad gold-copper-silver prospect in Peru

17 February 2014 (Last Updated February 17th, 2014 18:30)

Exploration and development firm Mariana Resources has unveiled positive channel sampling and mapping results at its Soledad gold-silver-copper prospect in Peru.

Exploration and development firm Mariana Resources has unveiled positive channel sampling and mapping results at its Soledad gold-silver-copper prospect in Peru.

Mariana, which has an option to acquire a 70% stake in Soledad from Condor Resources, said that mapping and outcrop channel sampling completed in January this year has identified bulk tonnage potential at the northern high sulphidation epithermal-breccia system.

The results indicate a possible concealed central mineralised intrusive and a surrounding ring of mineralised breccia pipes.

"The imminent drilling of a further three scout holes is set, to confirm the potential of a higher mineralised 'core zone' at the prospective Pucayacu target."

Channel sampling returned positive high-grade gold and silver assays from five of the zones sampled.

At Breccia one, channel sampling returned 7.8m at 8.6g per tonne gold and 19g per tonne of silver, and 3.4m at 7.6g per tonne of gold and 112g per tonne of silver at surface above unconfirmed historic drill intersections.

The company is planning an initial 2,000m drilling programme for the second quarter of this year, to test selected targets in five main areas.

Mariana Resources chief executive officer Glen Parsons said the positive sampling results corroborate historic results of strong mineralisation, and highlight new target areas with several facets over a large area.

Parsons noted that the company has also been active at its potentially large-scale Condor de Oro porphyry project in Northern Peru, where following positive results to date, it recently announced the continuation of option period with Condor.

"This continuation means the imminent drilling of a further three scout holes is set, to confirm the potential of a higher mineralised 'core zone' at the prospective Pucayacu target," Parsons said.

"The wide-spaced drilling completed to date indicates that several phases of mineralisation have occurred and relate to a large porphyry complex with multiple diorite and dacite porphyry intrusive events emplaced into volcanic wall rocks, and has enhanced the overall prospectivity of this large system."

Energy