26th May 2016 10:09
LONDON (Alliance News) - Mariana Resources Ltd on Thursday said it has secured more high-grade gold and copper intercepts from the Hot Maden project in Turkey.
Mariana said high-grade mineralisation has been confirmed in the HTD-52 drill hole, including 31.5 metres at 4.4 grammes of gold per tonne of ore and 0.77% copper. The mineralisation represents an extension on the current mineral resource model and so should serve to boost the next resource estimate for the project.
It also said exceptional gold-copper assays have been returned from exploration drilling in the southern target area, located 400 metres south of the existing resource area and within the northern extension to the pre-1923 vein mining area. These results included 40.5 metres at 8.8 grammes of gold per tonne and also 0.77% copper.
"The confirmation of these high grades, following visual identification of sulphides, is extremely encouraging both in the current resource area as well as further to the south," said Chief Executive Glen Parsons.
Shares in Mariana were up 4.8% to 3.80 pence Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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