Mariana Resources Limited
AIM and PLUS code: MARL
7 September 2009
First Pass Drill Program Commences at Dos Calandrias Project, Santa
Cruz Province.
Highlights
* Diamond drilling has commenced at Mariana's 100% owned Dos
Calandrias epithermal gold/silver (previously known as Tongoril)
project, in the Deseado Massif of Southern Argentina.
* 1500m of drilling to test three separate vein/vein breccias
targets at Calandria Norte and three broad silicified breccias
zones at Calandria Sur.
* Latest trenching returned encouraging assay results:
� 17.5m @ 1.9 g/t Au and 56.3 g/t Ag incl. 1.5 m @ 11.2 g/t Au and
510 g/t Ag
� 2.7m @ 5.4 g/t Au incl. 0.7m @ 20.2 g/t Au 25.4 g/t Ag
(Calandria Norte)
� 7m @ 1.1 g/t Au incl. 0.8 m @ 3.5 g/t Au
Diagram of Dos Calandrias trenching program available at
www.marianaresources.com
Calandria Norte and Calandria Sur Prospects
The drilling is designed to test six separate target zones which are
possible depth extensions of strong surface indications of gold and
silver mineralization discovered during Mariana's 2008/2009
exploration programme. Recent limited trench sampling from 21
excavations has confirmed prospectivity of the property with the
discovery of several zones of strongly anomalous gold and silver (see
trenching results below).
Six holes are planned at Calandria Norte to test mineralised
chalcedonic veins and vein breccias initially at 30m to 50m below
surface. An additional two or three deeper holes targeting between
80m and 120m below surface may follow.
At Calandria Sur, trenching has confirmed that wide zones of gold and
silver mineralization, generally in the range of 1-2 g/t are hosted
in the brecciated rhyolite bodies. These targets will be tested at
depths of 40m and 80m below surface at four sites, ideally with two
or three holes per section.
A Boyles 37A diamond drill rig has been contracted from Boart
Longyear. The drill rig is currently onsite and drilling ahead. It is
anticipated that the first batch of assay results may be reported in
the first half of October.
Background
Dos Calandrias is located within Mariana's Tongoril tenement in the
central part of the Deseado Massif of Santa Cruz Province. It
features a rhyolite lava dome complex with dome-margin breccias and
underlying pyroclastic rocks. Gold and silver vein type
mineralization related to NW and NE regional structures and assaying
up to 21.7 g/t Au and 62 g/t Ag was identified last year during
reconnaissance. Follow up of lag sampling anomalies discovered NW and
SE trending breccia zones in float and sub-outcrop in the
southernmost part of the property with high gold and silver values in
rock chips. The drill targets have been selected from a compilation
of results from surface rock chip sampling and diamond saw channel
sampling of trenches.
The mineralization is hosted by veins and breccias, which in
dome-hosted systems elsewhere, can offer additional potential for
bulk-tonnage targets. The outcropping chalcedonic veins with elevated
levels of mercury, arsenic and antimony indicate the system has not
been eroded and the target mineralisation may be preserved at depth.
Earlier this year, consultant epithermal gold specialist Dr. Richard
Sillitoe following a field visit, assigned Tongoril a "high
exploration priority" and recommended trenching and follow up
drilling. Dos Calandrias (Tongoril) is one of 10 epithermal gold
projects controlled by the company within a 160,000 Ha land package
based on regional work undertaken by the Mariana team.
Trenching Results
Trench ID Length (m) Au g/t Ag g/t Target
TPt01 2.7 @ 5.35 7.7 Calandria
Inc 0.7 @ 20.20 25.4 Calandria
TPt03 5.9 @ 0.52 1.6 Calandria
Inc 0.7 @ 2.42 3.3 Calandria
TCs01 10.5 @ 0.20 4.3 Brecha Deseada
TCs02 10.0 @ 0.50 4.1 Brecha Deseada
Inc 2.0 @ 1.05 2.5 Brecha Deseada
TCs03 4.0 @ 0.44 10.7 Brecha Deseada
TCs04 2.5 @ 0.73 3.3 La Picasa
TCs05 12.0 @ 0.21 3.0 El Abra
TCs06 1.5 @ 0.43 7.6 La Herradura
TCn07 3.4 @ 0.61 5.7 Calandria
Inc 0.5 @ 2.60 1.8 Calandria
TCn08 5.3 @ 0.65 6.3 Calandria
Inc 0.7 @ 2.30 0.7 Calandria
TCn09 7.0 @ 1.10 3.0 La Mora
Inc 0.8 @ 3.48 6.7 La Mora
TCn10 1.6 @ 0.24 0.7 Tongoril
TCn11 2.6 @ 0.36 2.1 Calandria
Inc 0.5 @ 1.40 9.0 Calandria
TCs12 17.7 @ 0.24 2.8 Brecha Deseada
Inc 1.1 @ 2.93 4.9 Brecha Deseada
TCs13 17.5 @ 1.92 56.3 Brecha Deseada
Inc 1.5 @ 11.20 510.0 Brecha Deseada
TCs15 3.5 @ 0.19 2.5 La Herradura
TCs16 0.5 @ 4.32 42.4 La Herradura
TCn17 1.5 @ 1.30 2.3 Calandria
TCn17 5.5 @ 0.17 1.1 Calandria
TCn18 1.0 @ 0.13 0.2 Veta Tapada
TCn14,19,20,21 No significant values
Commenting today, Managing Director of Mariana Resources Ltd, John
Sutcliffe said
"We are pleased to announce the start of drilling at the Dos
Calandrias Project in the prolific Deseado Massif gold/silver
province of Southern Argentina. We consider there is excellent
potential for both the breccia-hosted bulk tonnage and vein-hosted
deposits in what could be a non-eroded epithermal system and we look
forward to testing the six targets."
ON BEHALF OF THE BOARD
John Sutcliffe
Managing Director
For more information:
RFC Corporate Finance
Mariana Resources Limited Limited (Nomad)
+61 2 9437 +61 2
John Horsburgh (Chairman) 4588 Rob Adamson 9250 0041
+59 3 +61 2
John Sutcliffe (MD) 99808080 Will Souter 9250 0050
FinnCap (Broker)
Joe Lunn (Analyst) +44 20 7600
1658
Matthew Robinson +44 20 7600
1658
Or visit website at www.marianaresources.com
ADDITIONAL INFORMATION
The exploration programme is being directed by the Argentina
Exploration Manager, Dr Gustavo Rodriguez under supervision of
Managing Director Mr John Sutcliffe. Exploration information in this
announcement has been compiled by John Sutcliffe who is a Fellow of
the Geological Society of London, a Chartered Engineer and a Member
of the Institute of Mining and Metallurgy. Mr Sutcliffe has
sufficient experience relevant to the style of mineralization and
types of gold deposit under consideration and to the activity that he
is undertaking to qualify as a Competent Person as defined in the
JORC Code.
Quality Assurance/Quality Control
All technical information for the Company's Argentina projects is
obtained and reported under a quality assurance and quality control
(QA/QC) program. All samples are collected under the supervision of
the Company geologists and dispatched via commercial transport to ALS
Chemex laboratories in Mendoza, Argentina, and assayed in Santiago de
Chile. ALS Chemex's quality system complies with the requirements for
the International Standards ISO 9001:2000 and ISO 17025: 1999.
Samples returning greater than 10 g/t gold and/or greater than 100
g/t silver are assayed using gravimetric analyses.
Systematic assaying of sample duplicates and commercially prepared
standards and blanks is performed for analytical reliability.
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