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Mariana Resources drill results appear to confirm the huge potential of gold-copper deposit in Turkey
The latest results from Marina Resources PLC’s (LON:MARL) Hot Madan copper-gold joint venture in Turkey were, once again, eye catching.
More importantly, they are helping confirm the continuity of the mineralisation and may contribute to expanding the size of the resource.
There were two stand-out holes that returned respectively 116.5 metres at 6.7 grams of gold 79 metres at 8.1 grams.
Copper concentrations were respectively 1.7% and 1.9% and each hole had thick sections of high-grade mineralisation.
For example, the drill team found 16 metres at almost 36 grams per tonne of gold.
While the results cited above were at the very high end of what was found they were not were not isolated occurrences.
The latest exploration round was a mix of infill drilling and step-out drilling around Hot Maden’s Main Zone resource.
Infill drilling helps generate more confidence that was uncovered in the first-pass exploration exists and is continuous over the area.
Step-out drilling is designed to expand the strike length of the resource.
Both are important in compiling the planned preliminary feasibility study, which will provide a fuller assessment of just what the JV partners have uncovered and how economic the deposit might be, while providing a rough guide to the investment required.
Chief executive Glen Parsons said the results “continue to impress and increase our confidence in the high grade mineralisation and continuity thereof”.
Drilling for extensions towards the new Southern Discovery zone has yielded “particularly encouraging results”, he added.
The team found “nice intercepts” of high grade copper and gold complementing the existing mineral resource.
CEO Parsons added: “If one compares the mineralisation footprint on the drill plan to that of late last year we can see the growth and continuity that has been achieved in drill holes HTD 63 to 106, with a mineralised strike length of now 700m, and which we are confident will translate into an increased mineral resource for this developing new zone.”
One of the highest grade copper-gold deposits in the world today, Hot Maden is host to 3.45mln gold equivalent ounces.
Mariana has 30%, while Turkish partner Lidya holds the rest.
Story by ProactiveInvestors
Source: http://www.proactiveinvestors.com/companies/news/175275/mariana-resources-drill-results-appear-to-confirm-the-huge-potential-of-gold-copper-deposit-in-turkey-175275.html
