1st Apr 2014 10:25
LONDON (Alliance News) - Mariana Resources Ltd Tuesday said it is suspending operations at its Condor de Oro copper-gold-molybdenum project in Peru due to unprecedented weather conditions, and is hoping to restart work in two to three works.
The AIM-listed exploration and development company focused in Peru and southern Argentina said that there have now been a number of aborted helicopter attempts to move the drill rig into position for the start of drilling at its hole 6.
The company said that it has decided on a safety and commercial basis to allow weather conditions to improve before restarting drilling at the site.
Mariana Resources the region should be moving towards a drier season and it expects to restart work in two to three weeks.
The company said that in the interim, its Soledad project, also in Peru, is progressing to plan in preparation for drilling later in April and it does not expect this planned drilling to be affected by the delay or bad weather.
Mariana Resources shares were down 3.1% to 3.15 pence Tuesday.
By Tom McIvor; [email protected]; @TomMcIvor1
Copyright © 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
Mariana Resources