22nd Apr 2015 09:25
LONDON (Alliance News) - Mariana Resources Ltd Wednesday said its joint venture partner on the Hot Maden gold-copper project in north-eastern Turkey has restarted drilling with an "aggressive" phase two work programme which will include up to 10,000 metres of diamond drilling.
Lidya Madencilik Sanayi ve Ticaret AS will drill the first hole, HTD-08, around 50 metres away from the existing HTD-04 hole to test the northern extension of the significant high-grade gold-copper zone and high-grade stratabound zinc-lead zone discovered by holes HTD-04, HTD-05 and HTD-06.
"There is great anticipation with the commencement of this large follow up drill program as we test the extent of these strongly mineralised zones at Hot Maden. The results from drilling should give us a good idea of the potential size of the mineralised zone around the discovery holes which will lead to tangible value for Mariana," said Chief Executive Glen Parsons.
Mariana holds a 30% stake in the Hot Maden project with Lidya owning the remaining 70%. Results from the new round of drilling are expected to be completed in early May.
Mariana shares rose by 5.2% to 2.84 pence per share on Wednesday morning.
By Joshua Warner; [email protected]; @JoshAlliance
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