Mariana Resources: Further High Grade Gold-Copper Intercepts at Hot Maden

FurtherHigh Grade Gold-Copper Intercepts Reported from both Infill and Extension Drilling at the Hot Maden Project, north east Turkey Mariana Resources Limited (‘Mariana’ or ‘the Company’), the TSX.V and AIM (MARL) listed exploration and development company with projects in Turkey, South America, and Ivory Coast, is pleased to provide the following update on the ongoing diamond drill program at the high grade Hot Maden gold-copper project in NE Turkey.Results are reported for a total of 12 infill and extension drill holes (HTD-75 and HTD-77 to HTD-87), with drill log data provided for a further 6 holes (HTD-88 to HTD-93) for which assays are pending. The infill drilling in the Main Zone resource area is focused on section lines 4,542,225N, 4,542,175N, and 4,542,125N. This forms part of a program designed to uniformally reduce drill hole spacings to 25m x 25m and to provide both detailed geotechnical data and metallurgical samples for mine development studies. Only limited drilling was completed in the “Ridge” area (southern limit of the Main Zone resource) and the New Southern Vein Field discovery (Figures 1 & 2) during this reporting period.Highlights:Exceptional gold-copper (Au-Cu) grades continue to be returned from drilling along two infill cross sections (4,542,125N and 4,542,225N; Figures 3 & 4). This infill drilling continues to confirm the internal continuity of Au-Cu mineralisation, including the high grade, within the Main Zone resource area. Best results include:Infill Section 4,542,125N
HTD-85*: 60.6 m @ 82.2 g/t Au + 1.44% Cu from 209.4m downhole**.
This mineralised zone (approximate true width 35m) is the best intersection to date and includes the following subintervals:
209.4-229m: 19.6m @ 248 g/t Au + 1.90% Cu (“Ultra high grade zone”)
229-248m: 19m @ 3.4 g/t Au + 1.21% Cu (“Medium grade”)
248-270m: 22m @ 1.6 g/t Au + 1.19% (“Low grade zone”)HTD-82 31m @ 17.0 g/t Au + 1.70% Cu from 266m downhole.
And 37.5m @ 2.1 g/t Au + 1.49% Cu from 317m downhole.
(approximate true width of Au-Cu zone 38m)
Infill Section 4,542,175N
HTD-78: 79.0m @ 14.3 g/t Au +1.59% Cu from 294m downhole.
Including18.0m @ 55.1 g/t Au + 1.58% Cu from 296m downhole.
(approximate true width of Au-Cu zone 30m)Infill Section 4,542,225N
HTD-77: 90m @ 22.6 g/t Au + 4.39% Cu from 96m downhole.
Including11m @ 30.9 g/t Au + 6.30% Cu from 99m downhole.
(approximate true width of Au-Cu zone 76m)HTD-75: 62m @ 11.7 g/t Au + 1.43% Cu from 276m downhole.
Including2.0m @ 250 g/t Au + 6.50% Cu from 282m downhole.
And 44.0m @ 1.05 g/t Au +1.46% Cu from 334m downhole.
(approximate true width of Au-Cu zone 40m)Potential for the discovery of a deep (>250m), possible fault offset block of Main Zone-type mineralisation beneath the “Ridge” area (southern limit of the Main Zone resource) continues to be tested, with drill hole HTD-80 successfully intersecting multiple zones of high grade Au and Cu mineralisation at depth. Host rocks to this mineralization are brecciated andesites – similar to the host rocks in the Main Zone resource – which lie immediately to the east of the dominant dacitic breccias. Key results include:HTD-80:4.5m @ 16.3 g/t Au + 1.90% Cu from 177.5m downhole.
5.0m @ 8.4 g/t Au + 1.30% Cu from 194.0m downhole.Encouraging assays continue to be returned from limited discovery drilling in the Southern Vein Field. Highlights include 3m @ 9.6 g/t Au + 1.73% Cu in HTD-79 and 10.5m @ 4.9 g/t Au + 1.9% Cu in HTD-81. The Preliminary Economic Assessment( PEA) is in the process of being finalised with an anticipated completion date expected early in the New Year.* Twin of HTD-71
** Note – all intersections quoted are as metres downhole.Links to Figures: https://media.wix.com/ugd/24ee23_be0f968ffd40476485eb09220fc8292c.pdfChief Executive Officer Glen Parsons today commented:”The continuity of these additional drill results at Hot Maden add further confidence in the main zone, with the 25m infill holes further support continuity of the high grade gold and copper mineralisation. These results all build into the Preliminary Feasibility Study model which is due for completion around mid next year, ultimately paving the way for mine development. “Encouragingly the growth potential for the further extension to the main zone in of the offset block to the south as well as further interesting intercepts in the Sourthern Vein Field discovery area continues to be enhanced. “Planned budgeted drilling for 2017 of 20,000m will be focussed on the areas that have been delivering to date, as well as the untested area to the south, the “Russian Mining area”.”The much anticipated PEA, although slightly delayed, is nearing completion and is expected to be delivered early in the New Year. I look forward to updating the market as soon as it is available.”Hot Maden Gold-Copper Project UpdateApproximately 18,500 m of diamond drilling has been completed at the Hot Maden Project during 2016 (Figure 1 and 2). Recent drilling activities have dominantly focused on: -Infill drilling on 25m centres along sections 4,542,125N, 4,542,175N, and 4,542,225N. Selected holes have been utilised for geotechnical studies and metallurgical testwork. Deeper “step out” drilling to the east in the so-called “Ridge” area, which is located at the current southern limit of the Main Zone resource, and scout drilling of the Southern Vein Field (the northern extension of the area mined by Russian interests pre-1923).No significant work has yet been undertaken in the area of the former Russian mines (Figure 1).Main Resource Area – Infill Drilling