Mining Sector: Mariana Resources up on impressive intersection at Hot Maden
By StockMarketWire | Mon, 2nd February 2015 - 16:06
Mariana Resources Ltd (LON:MARL) was the sector's biggest riser after reporting its joint venture partner and operator Lidya Madencilik Sanayi ve Ticaret AS has completed an initial 9 hole / 1,647 m diamond drill programme at the Hot Maden Prospect in eastern Turkey with excellent initial results.
Assays have now been received for the first four holes (HTD-01 to HTD-04), and are pending for the remaining five holes (HTD-04A to HTD-07A).
Highlights from the first four holes:
⬢ Drill hole HTD-04 (Figure 3) intersected 103m @ 9.0 g/t Au & 2.2 % Cu from 25m, associated with silicified andesite breccias and massive sulphides (pyrite-chalcopyrite-bornite): The intersection included a significantly higher grade massive sulphide zone averaging 18.3 g/t Au & 3.3% Cu over 33.4m from 79.8m downhole; Zinc mineralisation was also intersected below the Au-Cu zone in HTD-04 with 2m @ 7.0% Zn (from 140m), 6m @ 3.2% Zn (from 154m) and 4m @ 5.7% Zn (from 166m); HTD-04 mineralisation is effectively blind with post-mineralisation overburden and clay cover
⬢ Assays pending for HTD-05 and HTD-06 drilled along the inferred strike, 100m north and south of HTD-04 respectively
⬢ Drill holes HTD-01 to HTD-03 included a bonanza grade gold intercept of 1m @ 121 g/t Au (nearly 4 ounces/t Au) and 5 intervals containing >5g/t Au with associated elevated copper values up to 1.16%
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