Mariana Resources CEO Glen Parsons on the Hot Maden Project
Aug. 06, 2015 04:40PM PSTPrecious Metals
Parsons believes that Hot Maden has the potential to become a mine since mineralization at the project so far appears to be high grade at surface.
The Investing News Network recently sat down with Glen Parsons, CEO of Mariana Resources (LSE:MARL), to talk about the company’s Hot Maden project in Turkey and why he believes it has the potential to become a mine.
Despite a weak gold price, Mariana Resources is still up 55 percent so far this year on the Alternative Investment Market in London, and the company’s Hot Maden project has certainly been yielding strong results. Near the end of July, Mariana Resources reported assays of 117.3 meters at 13.9 g/t gold and 2 percent copper, as well as 83 meters of 13.4 g/t gold at 3.9 percent copper.
“I think the key thing here with these results is every result we’re putting out in this focus zone is really delivering consistent grade,” he said. “It’s really building a resource-base potential.” Mariana Resources plans to initiate an independent resource estimate for the project, and he expects it will be released early in Q4.
Further speaking about why he believes Hot Maden could become a mine, Parsons mentioned that the mineralization at the project is high grade starting 25 meters from surface. “The starting up cost of a mine is actually going to be relatively low in terms of that.” He also mentioned that Mariana Resources sees a relatively small footprint on the docket for the mine, and pointed out that the company’s Turkish partner, Lidya Madencilik Sanayi ve Ticaret, has “fast tracked” the project so far and is focused on becoming a producer.
Finally, since Mariana Resources is popular in North America with the likes of Brent Cook, but is listed only in London, Parsons spoke about how interested investors in Canada and the US can invest in the company. He stated that Mariana is looking at making the process easier for North American investors.
Watch the video for more of what Parsons had to say about Mariana Resources.
Securities Disclosure: I, Teresa Matich, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
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