Mariana Resources Ltd is an AIM and TSX quoted exploration and development company with an extensive portfolio of gold, silver and copper projects focussed in Santa Cruz province, Argentina and Chile. These projects are either held 100% or in separate joint ventures with current partners IAMGOLD, Hochschild Mining and Cliffs Natural Resources.
Argentina
The Deseado Massif is a highly prospective epithermal gold-silver district situated in mining-friendly Santa Cruz province, southern Argentina. Mariana has concentrated its efforts over its flagship Las Calandrias and promising Sierra Blanca gold-silver discoveries.
Mariana’s rapidly developing portfolio includes:
Las Calandrias 100% – Mariana released an initial National Instrument 43-101 resource statement for its flagship gold-silver discovery in July 2011. Drilling in Q3/Q4 2011 is testing 10 target areas, all outside the initial resource outlines.
The initial combined resource for Calandria Sur and La Calandria is 519,000 ounces gold equivalent (“AuEq”) and comprises 491,000 oz Indicated and 28,000 oz Inferred:
- 11,840,000 tonnes @ 1.0 g/t gold (Au) and 17.4 g/t silver (Ag) Indicated
- 870,000 tonnes @ 0.9 g/t Au and 5.2 g/t Ag Inferred
Note: AuEq assumes dividing the silver ounces by 60 and adding it to the gold ounces and full metallurgical recovery.
Sierra Blanca – Mariana’s second advancing silver-gold project is 100% owned. (In November 2011 Mariana exercised its option to convert the outstanding 30% interest into a 1.5%NSR for IAMGOLD).
This project with over 3km aggregate epithermal vein trend has delivered robust drill results with numerous ore-grade silver-gold intersections with a third drilling campaign Q4 2011.
Los Amigos joint venture – Mariana(49%) and Hochschild Mining (51% operator) are exploring highly prospective epithermal vein systems in the western sector of the Deseado Massif.
Santa Cruz Land Package – Mariana’s land package includes 215,000 hectares of tenements with potential to generate additional projects with a number of target areas already identified from preliminary reconnaissance work.
Chile
Cliffs Joint Venture – Mariana (30% participating) is exploring for iron oxide-copper-gold deposits (‘IOCG’) in north-central Chile along the highly prospective Atacama Fault Zone with US based Cliffs Natural Resources Inc.. (operator).
Mariana Chile – Mariana is also evaluating a number of gold-silver and copper-gold opportunities and has optioned the Jiguata high sulphidation gold-silver project in Region I which has potential for a concealed epithermal system.
