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Mariana Outlines Drill Targets at Los Cisnes Gold-Silver Project Following Positive Trenching Results, Southern Argentina
Mariana Resources Ltd, the AIM quoted exploration and development company focused in Peru and southern Argentina, has announced that it has outlined a number of drill targets prospective for bulk tonnage gold and high-grade gold-silver on the back of previous exploration and the new positive trenching results at its 100% owned Los Cisnes Project in the eastern Deseado Massif, a prolific gold-silver district in Santa Cruz province, southern Argentina.
Overview:
– Discovery of a large intact brecciated rhyolite dome system, prospective for bulk tonnage and high-grade gold-silver, at Los Cisnes
– Ground magnetics indicates a much larger dome complex than initially mapped with major extensions interpreted under thin gravel cover – This system is twice as large as that hosting Mariana’s Las Calandrias discovery and resource of 519,000 AuEq oz in Argentina
– Systematic exploration has outlined a NE trending 3,000m x 500 – 1,000m dome corridor at El Solar and Solar East targets
– New trenching results have resulted in several strongly anomalous grades for gold at El Solar and silver at El Brio (refer Table 1 below)
– 71 of 200 previous rock chip samples were strongly anomalous in gold with 27 over 0.5 g/t Au (maximum 11.0 g/t Au) and at the El Brio target area 8 samples range from 31 to 716 g/t Ag, and one 0.8m @ 3,849 g/t Ag
– Trial IP shows potential subsurface sulphide mineralisation (chargeability anomalies) within the Solar dome complex, some with associated rock chip/trenching gold anomalies
– Compared to the IP signature of known dome-hosted mineralisation at Mariana’s advanced Las Calandrias project, Solar and Solar East are ranked as high priority target areas for scout drilling
– El Brio high-grade vein breccia trend is also a priority drill target with ground magnetics delineating a 2.3km trend and chargeability anomalies indicating subsurface sulphide mineralisation
– Strategically acquired neighbouring properties at Los Cisnes in May 2014 further enhancing Mariana’s regional position at Los Cisnes
– Scout drilling is planned for the 2014/2015 field season
Chief Executive Officer, Glen Parsons commented, “These positive results received from Los Cisnes in Argentina set the scene for the Company to bring another of its advanced strategic exploration projects up the development curve to unlock value for shareholders. Los Cisnes has company maker potential with a domefield setting twice the size of our Las Calandrias project located 100km to the north. Work to date has indicated both bonanza silver and bulk tonnage gold potential which is now backed up by the recent geophysics and trenching with strong anomalous gold numbers. These results pave the way for an exciting scout drilling programme planned for early 2015.
“Our experienced Argentinean team has applied domefield epithermal models over Los Cisnes, which have been developed from the successful Las Calandrias discovery, to identify these exciting target areas.”
“To capitalise on the anomalous mineralisation extending beyond the boundaries of our Los Cisnes tenement we strategically acquired three new adjacent tenements in May 2014. This has consolidated our footprint in the area. It is our intention over the next 5 months to delineate further drill targets over these three new tenements to complement the impending 2015 drill programme.
“Mariana has a strong diversified portfolio in both Argentina and Peru, which it continues to build and strengthen whilst continually looking for new value adding company maker opportunities which fit the Company’s investment criteria. The Los Cisnes Project represents a key component of Mariana’s strategy of advancing a portfolio of potential projects up the development curve to unlock the underlying value for shareholders.”
