18/09/2007
Aussie-based Mariana Resources has discovered potentially rich gold and silver zones at Sierra Blanca in Argentina.
The AIM-quoted company, chaired by mining veteran John Horsburgh, says it has found three-metre long assay results from its Sierra Blanca project in South Argentina. These show ‘sulphide-rich vein zones’ of more than three kilometres in depth, with assays of initial rock-chip samples showing 1.61 grammes of gold per tonne of ore over 1.4 metres and indications of other minerals.
Mariana says it hopes to establish new targets for Sierra Blanca by the end of this year or early 2008. Meanwhile, the company has taken options on six iron-oxide, copper-gold concessions in Region de Attacama, a new mineral area of Chile, and reports ‘encouraging’ exploration results from its Macara joint venture in Ecuador.
These developments add potential recovery spice to the shares at a depressed 10.75p.
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