MARIANA RESOURCES LIMITED
Incorporated in Guernsey Registered No. 44276
AIM & PLUS: MARL
19 October 2009
Drilling Update - One Hundred Metres-Plus Gold Intersection at
Calandria Sur, Dos Calandrias Project, Santa Cruz, Argentina
Highlights
* Initial results from diamond drilling at Dos Calandrias (100%
Mariana) received for one of eight holes at Calandria Sur and all
eight holes at Calandria Norte.
* At Calandria Sur hole CSD13 intersected 102 metres (m) @ 1.2 g/t
gold from 7.0 m down hole, including 20.0 m @ 2.6 g/t gold from
89 m, with gold grades notably increasing with depth.
* The other seven holes at Calandria Sur (assays pending)
intersected significant zones of brecciated and disseminated
sulfides up to 80 m wide in altered rhyolite.
* Drilling at Calandria Norte intersected veins and disseminated
sulphides with best assays 10 m @ 0.6 g/t of gold from 54.2 m
(CND07), 4.1 m @ 0.9 g/t of gold from 47 m (CND03) and 0.5 m @
4.9 g/t of gold from 8.5 m (CND05).
Calandria Sur
The results from Calandria Sur hole CSD13 returned 102 m @ 1.2 g/t
gold from a down hole depth of seven metres below surface, including
20 m @ 2.6 g/t gold from 89 m. Sampling of the final four metres
from 109 m to 113 m is pending.
Silver assays from CSD13 and all assays from the other seven holes at
Calandria Sur are pending.
Diamond hole CSD13 which was drilled in the central part of the
Calandria Sur rhyolite dome intersected a wide zone of hydrothermal
breccias. The entire hole is mineralised from surface to the sampled
depth of 109 metres. Mineralisation in the hole was all
breccia-hosted with no vein style zones encountered.
A marked increase in gold grade with depth is seen in hole CSD13:
from surface, 66 m @ 0.7 g/t Au and from 66 m, 43 m@ 1.9 g/t Au. The
last part of the hole returned the highest gold grades with 21m @ 2.5
g/t Au from 88 m.
Widely developed sulfide rich intervals up to 80 m wide consisting of
brecciated and disseminated sulfides in strongly altered rhyolite
were encountered in all the holes drilled at Calandria Sur. The
hydrothermal breccia zone which is the principal target at Calandria
Sur, is approximately 800 m in length and 300 m in width, and has
been drill tested for half its length in this initial eight-hole
programme.
Calandria Norte
Significant results from Calandria Norte include:
(i) 10 m @ 0.6 g/t of gold and 1 g/t of silver from a
down hole depth of 54.2 m, in hole CND07.
(ii) 4.1 m @ 0.9 g/t of gold and 11 g/t of silver from a
down hole depth of 47 m, including: 0.6 m @ 3.1 g/t of gold and 36
g/t of silver in hole CND03.
(iii) 0.5 m @ 4.9 g/t of gold and 13 g/t of silver from a
down hole depth of 8.5 m in hole CND05.
Shallow holes (CND01-02-03) intersected the Calandria and La Mora
veins at between 30 m and 45 m below surface. Hole CND04 (Calandria
vein) and CND06 (La Mora vein) intersected a wide sulfide
disseminated zone at shallow depths in the vein hanging wall. Hole
CND07 encountered disseminated pyrite and marcasite in the strongly
altered rhyolite and as sulfide rich veins.
A more detailed review of Calandria Sur and Calandria Norte will
follow when all drill results are received.
Diagrams of Dos Calandrias Project are available at
www.marianaresources.com
Summary Drilling Results:
Calandria Sur
From to Core Gold Silver Target
Hole length
(m) (m) (m) (g/t) (g/t)
CSD09 Assays pending Brecha
Deseada
CSD10 Assays pending Brecha
Deseada
CSD11 Assays pending Brecha El
Abra
CSD12 Assays pending Brecha El
Abra
7.0 109.0 102.0 1.2 Assays Brecha El
CSD13* pending Abra
Incl 89.0 109.0 20.0 2.6 Assays Brecha El
pending Abra
CSD14 Assays pending Brecha
Deseada
CSD15 Assays pending Brecha
Picasa
Brecha
CSD16 Assays pending Picasa
* Sampling 109m -113m
pending
Calandria Norte
From to Core Gold Silver Target
Hole length
(m) (m) (m) (g/t) (g/t)
CND01 39.6 40.5 0.85 2.2 13.8 Calandria
Vein
CND02 46.9 55.5 8.6 0.5 2.5 Calandria
Vein
CND03 47.0 51.0 4.1 0.9 11.0 La Mora
Vein
Incl 49.9 50.4 0.6 3.1 35.5 La Mora
Vein
CND04 35.7 40.0 4.4 0.5 3.1 Calandria
Vein
CND05 8.5 9.0 0.5 4.9 13.1 Calandria
Vein
and 79.2 80.2 1.0 0.4 0.2 Tongoril
Vein
CND06 22.0 23.0 1.0 3.4 24.1 La Mora
Vein
and 103.1 105.3 2.2 2.3 2.3 La Mora
Vein
CND07 54.2 64.5 10.2 0.6 1.0 Calandria
Vein
and 87.1 92.3 5.2 0.6 4.9 Calandria
Vein
La
CSD08 32.6 42.3 9.7 0.4 2.7 Herradura
Vein
Commenting today, Managing Director of Mariana Resources Ltd, John
Sutcliffe said:
"The Company is very encouraged by the first results from the
hydrothermal breccias at Calandria Sur, which are open in depth and
laterally. While the rest of the results are pending, this initial
broad intercept may be an indication of bulk tonnage mining
potential. The notable strengthening of gold values down hole in
CSD13 points to deeper drill targets. We look forward with great
interest to the results of the other seven diamond drill holes."
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 32 298 +61 2
John Sutcliffe (MD) 6464 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
Drilling was undertaken by Boart Longyear Argentina. The program was
managed by the Argentina Exploration Manager, Dr Gustavo A. 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.
Sampling and Analytical Details
All diamond drill core samples are split on geological contacts with
minimum and maximum sample length of 0.4 and 2.1 metres respectively
and represent sawn half HQ-size core.
All the samples are collected under the supervision of the Company
geologists. During the sample handling procedure, the sample
shipments are tracked. Core samples were placed into uniquely
labelled sample bags. A record of the sample location and other
specific details is documented in the sample data base.
All samples were sent to ALS Chemex Labs (an internationally
accredited assay laboratory) with preparation facilities in Mendoza
and assayed in Chile for gold and multi element ICP analyses. Rock
sample preparation includes weighing, drying, fine crushing of entire
sample to better than 70% -2mm, split of 250g and pulverize split to
better than 85% passing 75 microns (PREP-31- DRY-22). The 34 element
ME ICP41 package analyses utilize an aqua regia digestion. Gold
analyses for all samples are fire assay and AAS (Au-AA24, 50g nominal
sample weit, range 0.005-10 ppm) with any results over 10g/t checked
using a gravimetric finish (Au-GRA22- 50 gr , range 0.05- 1.000 g/t).
Silver grades exceeding 100 g/t were assayed by fire assay and
gravimetric finish (Ag-GRA21, 30g nominal sample weight, range
5-10,000 ppm).
ALS Chemex's quality system complies with the requirements for the
International Standards ISO 9001:2000 and ISO 17025: 1999
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. Four different certified standards were inserted at
an were inserted at intervals of approximately 45 samples. A total
of 9 % control samples have been inserted . Assays that meet the
QA/QC are incorporated in the Mariana data base
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