8th Sep 2014 10:09
LONDON (Alliance News) - Mariana Resources Ltd Monday said it has entered into an option to earn a substantial percentage of two "potentially strategic gold tenements", named the Rurimarac Properties, located in the Cordillera Negra metallogenic province in Peru.
Mariana has entered into an option to earn up to 70% of the two sites with Tinka Resources Ltd, which currently owns 100% of the Rurimarac Properties through its Peruvian subsidiary Darwin Peru SAC.
The Rurimarac Properties are located 4 kilometres to the west of Mariana's recently drilled and mineralised copper-gold Soledad project, it said. It said drilling permission for the Rurimarac Properties will be submitted as soon as possible.
"This acquisition is in line with Mariana's strategy to opportunistically bolster the company's portfolio where promising standalone project mineralisation exists. The Rurimarac Properties offer Mariana additional high-grade gold potential and increased scale around our highly prospective Soledad copper-gold property as we look to ramp up our exploration activities in this proven district," said Chief Executive Glen Parsons.
Mariana's share price was down 0.5% to 2.07 pence per share Monday morning.
By Joshua Warner; [email protected]; @JoshAlliance
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