Projects
Argentina
Background
Mariana is exploring for low sulphidation epithermal gold–silver deposits in the Deseado Massif, Santa Cruz Province in Patagonia by way of a joint venture with IAMGOLD Argentina and in its own right. The Deseado Massif is a world class gold-silver mining province.
The Santa Cruz Joint Venture with IAMGOLD joint venture covers the Sierra Blanca and Cañadon Largo concessions which were located by IAMGOLD using ASTER satellite imagery.
Mariana has earned 70% in the properties by spending US$2M in four years. Mariana commenced a program of RC and diamond core drilling, mainly of the Chala and Lucila prospects, within the Sierra Blanca concession in September 2008 to test at depth, surface channel samples of up to 9.4m @ 2,362 g/t Ag (76 oz/t) and 1.3 g/t Au. This resulted in the discovery of intermediate sulphidation epithermal silver-gold mineralsiation along the Veta Chala trend at Sierra Blanca.
Elsewhere in Santa Cruz Province, Mariana has more than 160,000ha covering eight groups of concessions under application which are considered prospective for epithermal gold-silver mineralization. Reconnaissance exploration located encouraging surface mineralized outcops with rock chip samples of 0.7 metres (m) @ 21.7 grams per tonne (g/t) Au, 62 g/t Ag in brecciated rocks at Dos Calandrias (formerly named Tongoril), 1 m @ 1.85 g/t Au, 302 g/t Ag in sulphide-rich stockwork areas at El Bozal II and 0.7 m @ 0.1 g/t Au, 240 g/t Ag in high-level vein breccias and sinters deposits at Amigo, and at Aurora up to 3.0 g/t Au and 0.1% Mo in reconnaissance rock chips.
Of these new areas, Dos Calandrias has advanced to the drilling stage.
At La Borita, Mariana has on option to acquire 100% in a concealed porphyry copper target beneath extensive copper-bearing travertine within a magnetic low on Alumbrera Trend in Catamarca province, north west Argentina. An IP survey indicates porphyry copper scale sulphides at depth.
