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mariana resources ltd (MARL) Snapshot

1.65 GBp
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1.65 GBp
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1.75 GBp
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52 Week High
04/29/14 - 4.40 GBp
52 Week Low
12/12/14 - 1.02 GBp
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-0.02 GBp
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Current Stock Chart for MARIANA RESOURCES LTD (MARL)

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mariana resources ltd (MARL) Details

Mariana Resources Limited is engaged in the exploration and development of mineral projects in Peru and southern Argentina. It primarily explores for and develops gold, silver, and copper mineral projects. The company has an option to earn a 51% interest in copper-gold and copper-silver porphyry targets in the Cordillera del Condor of northern Peru, as well as an option to earn a 70% interest in the Soledad copper-gold and silver project in Central Peru. It also owns 100% interests in the Las Calandrias, Sierra Blanca, Los Cisnes, and Bozal projects, as well as a 30% interest in the Los Amigos JV project. Mariana Resources Limited was incorporated in 2006 and is headquartered in North Sydney, Australia.

9 Employees
Last Reported Date: 05/27/14
Founded in 2006

mariana resources ltd (MARL) Top Compensated Officers

Chief Executive Officer and Director
Total Annual Compensation: 138.8K GBP
Compensation as of Fiscal Year 2013.

mariana resources ltd (MARL) Key Developments

Mariana Resources Limited Announces Aggressive Phase II Drill Program Planned at the Hot Maden Goldcopper Prospect, Eastern Turkey

Mariana Resources Limited announced that it has received notification from JV partner Lidya Madencilik Sanayi ve Ticaret A.S. that it has completed the minimum exploration expenditure commitment at Hot Maden, as required by the Hot Maden Definitive Agreement. In addition, Lidya has also made a USD 150,000 cash payment to Mariana, thereby completing all the necessary requirements to earn-in to an initial 20% interest in the Hot Maden property and to continue with the project earn-in. In parallel, Lidya has indicated that planning has started for an aggressive Phase II work program at Hot Maden, which will include up to 10,000 metres of diamond drilling. The follow-up diamond drill program will include both step-out drilling (designed to determine the lateral and down dip/plunge extent of the high grade goldcopper zone identified through the Phase I drilling), and infill drilling. In order to earn a further 50% interest in Hot Maden (for a total of 70%), the Agreement requires that Lidya invest a further USD 1.8 million in exploration on the property and make additional cash payments to Mariana totalling USD 350,000.

Second Exceptional Intercepts 82m at 20.4 g/t Gold and 1.94% Copper at Hot Maden Prospect, Eastern Turkey

Mariana Resources Ltd. announced that all assay results for the remaining three holes have now been received from JV partner Lidya Madencilik Sanayi ve Ticaret A.S. for the initial drill program at the Hot Maden Prospect in eastern Turkey. These results include assays from two stepout drill holes (HTD05 and HTD06) targeting extensions to the HTD04 discovery containing highgrade AuCu mineralization. HTD05 - Another impressive intercept with 82m at 20.4 g/t Au and 1.9% Cu from 147m downhole including a bonanza 13m at 88 g/t Au and 2.5% Cu from 150m - HTD05 was collared 100m southeast of HTD04 which, as previously announced, intersected 103m at 9.0 g/t Au and 2.2% Cu from 25m downhole including 33.4m at 18.3 g/t Au and 3.3% Cu from 79.8m - The AuCu zone in HTD05 is associated with strong pyritechalcopyrite (+/bornite) hosted within brecciated and silicified andesites with significant Zn intersections above the AuCu zone, including: 3m at 1.5% Zn (from 33.5m), 1.5m at 2.2% Zn (from 51.0m) and 31.5m at 1.8% Zn (from 60m) - Preliminary interpretation by Mariana indicates the high grade AuCu zone discovered in HTD04 and 05 is subvertical, trends northsouth, and is flanked to the east by predominantly sedimenthosted Znrich mineralisation - Importantly, the high grade AuCu zone discovered in HTD04 and 05 remains open to the north, south and at depth. HTD06 located 100m North/NorthEast of HTD04 (fig xx) also intersected significant Zn mineralisation, including 27.6m at 1.3% Zn from 41.7m, 26.5m at 2.3% Zn from 75.5m, 12m at 4.0% Zn from 163m and 10m at 2.8% Zn from 203m - Surface projections of the AuCu intersections in HTD04 and HTD05 indicate HTD 06 may have been drilled directly into the easternmost Zn rich zone without testing the expected northern extension of the high grade AuCu zone. Drill hole HTD07, located 400m SouthWest of HTD05, an area previously tested by HTD01 and HTD03, intersected several narrow zones of Au and/or Cu mineralisation, including: 8m at 1.63 g/t Au from 81m, 1m at 1.61% Cu from 97m, 3m at 2.14 g/t Au and 0.43% Cu from 124m, 1m at 1.33% Cu and 0.42g/t Au from 136m, 1m at 4.79 g/t Au and 0.13% Cu from 141m, and 1m at 2.99 g/t Au and 0.97% Cu from 159m and 2m at 1.89 g/t Au from 214m.

Mariana Resources Ltd Provides an Update on Results Obtained from the Deep Sensing IP Geophysical Survey at Soledad Copper-Gold-Silver Project, Central Peru

Mariana Resources Ltd. provided an update on the results obtained from the Deep Sensing IP geophysical survey at the Soledad Copper-Gold-Silver Project, Central Peru. The Deep Sensing IP survey was completed on a 2 km x 3 km block covering the central portion of the Soledad property, where Mariana drilling in 2014 confirmed the existence of both high grade Cu-Au-Ag breccia pipes and porphyry Cu-Au style alteration/mineralisation at depth. The Deep Sensing IP data were acquired along 6 north-south survey lines spaced 400 m apart, and whilst relatively wide spaced and low resolution, compliment existing IP data for Soledad by extending the nominal depth of investigation from 225m to approximately 500m. These new geophysical data, together with additional surface geochemical and PIMA sampling completed by Mariana's field crews, have resulted in 3 new target areas being identified for the 2015 drill program at Soledad. More detailed compilation of the target areas is in progress. Priority targets defined for drilling at Soledad include: i. Soledad Central: (L17700E): A prominent low resistivity /high conductivity anomaly, approximately 500m in length (x 400m width) is best developed at vertical depths exceeding 300m, and importantly underlies mineralized breccia pipes 5, 6, and 4. This highly conductive zone is interpreted by Mariana to coincide with the root zone to the three breccia pipes, and is therefore considered to be a concealed breccia target. There is moderate Cu and Au geochemical (systematic rockchip sampling) anomalism at surface. The new target is below the previous breccia 5 intersection in SDH-7: 96 m @ 0.92 g/t Au, 15 g/t Ag, 0.22 % Cu from 33 m and SDH-12 - 139m @ 0.4% Cu, 1.4 g/t Au, 15 g/t Ag from 87m. ii. Faro (L16500E): A second low resistivity /high conductivity anomaly lying on the western margin of the survey area associated with breccia 9. As the anomaly lies on the limits of the survey area, an additional line or two of IP will be required to more accurately locate the position of the anomaly. A coincident surface Cu-Au-Mo geochemical anomaly is located approximately 500m due west of breccia pipe 4. This geochemical signature is more typical of porphyry-type systems, and could represent an extension to the porphyry-style mineralization and hydrothermal alteration identified at depth in drill hole SDH-12. iii. Cima Blanca: A near surface, high resistivity /low conductivity anomaly located in the north-eastern part of the survey area at Cima Blanca. This high resistivity zone likely represents silicification within the Cima Blanca lithocap, with the geological interpretation being that the lithocap usually lies above, and is slightly offset from, the main porphyry Cu-Au centre in telescoped porphyry systems. Previous hole SDH-03 intersected 5 m @ 3.9 g/t Au, 13 g/t Ag from 43m in this vicinity. Whilst further detailed analysis of the Deep Sensing IP data is currently in progress, no significant chargeability anomalies appear to have been delineated within the upper 500m at Soledad. However, the 2014 drill program indicated that the host andesite volcanic rocks contain elevated concentrations of pyrite and these moderate, relatively near surface responses and the high conductivity of Soledad Central could potentially be masking chargeability responses from greater depths. As a result, a combination of known geological relationships (especially data from SDH-12) together with the available geophysical and geochemical data will guide drilling on an interpreted porphyry Cu-Au target at depth.


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