3rd Nov 2014 09:13
LONDON (Alliance News) - Mariana Resources Ltd on Monday said it has moved to the second year of its option agreement for the Soledad copper-gold-silver project in Peru following positive recent results from its drill campaign at the site.
Mariana has the option to earn a 70% interest in the prospect via its deal with site owner Condor Resources Inc.
Under the second year of the agreement, Mariana will make an option payment of USD75,000 and will commit to a USD650,000 work programme.
The next drilling at the site, to take place in conjunction with the adjacent Rurimarac project, is set to start in the first quarter of 2015.
Mariana shares were untraded on Monday, last traded at 1.775 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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