Northland Capital partners view on Mariana Resources LON:MARL: Mariana Resources and joint venture partner Lidya’s continued drill programme at the ultra-high grade Hot Maden Project has demonstrated that in the south there appears to be a structural offset that requires further investigation to determine if the ultra-high grade gold-copper mineralisation continues to the south. Drilling to the north has demonstrated high-grade zinc mineralisation, with drilling 400m to south defining a different style of gold mineralisation – high-grade narrow veins/stockworks. The partners have also designed a geophysical programme to investigate the potential for a deep (>400m) gold-copper porphyry system located below the anhydrite breccias.
| Assay results from HTD-36 to HTD-50 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| n Mariana Resources reports assay results from drill holes HTD-36 to HTD-50, results for HTD-51 to HTD-53 expected shortly.
n High-grade zinc intervals intersected in the northern and eastern margins of the mineral resource estimate with 36.5m at 7.1% Zn, 1.8g/t Au and 0.51% Cu from 25.5m (HTD-44). n Mineralisation 400m south of the existing mineral resources estimate has demonstrated the presence of high-grade vein/stockwork type gold mineralisation with 1m at 13.7g/t Au from 64m (HTD-50). n In the Ridge Area, located immediately south and southeast of the mineral resource estimate, significant results include; 6m at 5g/t Au from 11m (HTD-45), 15m at 3.2g/t Au and 1.22% Cu from 24m (HTD-45), 5m at 9.1 g/t Au and 1.4% Cu from 46m (HTD-45) and 1.5m at 12.9g/t Au and 4.79% Cu (HTD-42). n Hole HTD-52, which lies outside the current mineral resource estimate, appears to have intersected 50m of chalcopyrite bearing breccia from 262m, assays are pending. n Updated mineral resource estimate expected to be completed in June that will include holes HTD-18 to HTD-53. 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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