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Soledad Project Update Peru- 174m of Copper-Gold-Silver Mineralisation at Breccia 1 & Altered Porphyry at Breccia 5 Intersected
Mariana Resources, the AIM quoted exploration and development company focused in Peru and southern Argentina, has announced further positive results from its recently completed 2,084m drill campaign at the copper-gold-silver Soledad prospect in Peru, located in the prospective Cordillera Negra metallogenic province approximately 34 km to the south of the Pierina gold- silver mine operated by Barrick Gold Corporation.
Overview:
– The minimum 2000m diamond drill programme tested a combination of high level porphyry, quartz-tourmaline breccia pipes, breccia root zones and adjacent concealed porphyry targets within a 1.0 km diameter area of interest.
– The first half of the drill programme confirmed strongly mineralised breccias and presence of high level porphyry within the 1km diameter target area (NR 17 June 2014)
– SDH-09, the first of the deeper holes, was drilled in Breccia 1 pipe at a steep angle below SDH-01 and intersected 174m @ 1.2% Cu, 0.7 g/t Au and 114 g/t Ag from 92m, (previously reported SDH-01 33m @ 1.0% Cu, 3.4 g/t Au, 23 g/t Ag). (Not true widths, Breccia 1 diameter at about 200m below surface is estimated at 35-40m)
– The mineralised breccia intersected in SDH-09 included three zones of strong quartz-tourmaline-sulphide mineralisation:
26 m @ 2.1% Cu, 0.8 g/t Au, 134 g/t Ag from 92 m
66m @ 1.4% Cu, 0.7 g/t Au, 108 g/t Ag from 141m
29 m @ 2.1% Cu, 1.9 g/t Au, 301 g/t Ag from 236 m
– SDH-09 shows Breccia 1 is mineralised to a depth of 250m, i.e. 50m deeper than intersections reported in DDH10 (Rio Amarillo, 1996)
– Vectors for proximal porphyry mineralisation encouraging with breccia clast alteration and increasing copper at depth in SDH-09, as well as potassic wallrock alteration and altered granodiorite porphyry in SDH-12 below Breccia 5.
– Campaign completed with 12 holes drilled for 2084m
Mariana has an option to earn a 70% interest in Soledad, which is fully drill permitted, through its agreement with tenement owners Condor Resources Inc. (TSXV:CN).
Chief Executive Officer, Glen Parsons commented, “With the first half of the programme successfully complete, a large 1km diameter mineralised target area is apparent and I am now delighted to announce the first of our deeper holes coming in with further strong Cu-Au-Ag mineralisation in Breccia 1. The quartz-tourmaline mineralisation in Hole 9, approximately 50m deeper than previously reported mineralisation, is catching our attention as we appear to be honing in on potential higher grade feeder zones. Furthermore, Hole 12, with results pending, has intersected encouraging alteration, consistent with porphyry mineralisation in the vicinity. As we assess incoming assay results, we are continually updating and enhancing our geological model which provides a greater understanding of the potential of this exciting system. A more complete geological model will evolve following Hole 12 results.
Equally important drilling at Condor De Oro drilling has been progressing nicely and currently we are at a depth of around 180m. So we look forward to updating the market on assay results for both exciting projects as they unfold.”
