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Mariana remains positive over Peru project

By BFN News | 03:54 PM | Thursday 14 August, 2014


Mariana Resources' latest scout drilling results at the Condor de Oro copper-gold-molybdenum project in Peru have failed to find any economically viable mineralisation. But it says the strong potassic alteration, late stage intrusives and phreatomagmatic mineralised breccias are all positive indications for a deeper mineralised intrusive core and further drill results expected in the coming weeks. Chief executive Glen Parsons said: "Condor de Oro continues to deliver positive results with anomalous gold, copper and molybdenum being intersected over this entire 300m deep hole and despite no ore grade intersections thus far, we believe there is ample scope for an economic discovery within this large multiphase intrusive complex. "Each of the widely spaced scout holes to date show mineralisation and alteration in every rock type intersected confirming the scale and prospectivity of the system. Hole 6 in the Core Zone is no exception with strong potassic alteration and phreatomagmatic mineralised breccias intersected." "Mariana's exploration plan going forward will be finalised as we update our geological model once all results are delivered from this initial drilling programme. In the interim we remain committed to maintaining and advancing our social programme with the local Los Naranjos community and look forward to updating on the developments from this potential company maker project in due course." At 3:54pm: (LON:MARL) Mariana Resources Ltd share price was -0.5p at 2.1p Story provided by StockMarketWire.com

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