News release: Tongoril project Argentina
(Thomson Reuters ONE) - Mariana Resources LimitedAIM and PLUS code: MARL31 July 2009Drill Targets at Dos Calandrias (Tongoril) gold-silver project inSanta Cruz Province, Argentina.Highlights:* Seven drill targets identified to date, scout drilling planned assoon as permitting and limited trenching completed.* Soil geochemistry has defined two gold anomalies: 850 m by 150 mwide (Calandria Sur) and 550 m by 100 m wide (Calandria Norte).* The anomalies coincide with hydrothermally altered rhyolite lavadomes and surrounding breccias.* New mineralized zones discovered with high grade gold and silvervein/ breccias at Calandria Norte (six zones) and Calandria Sur (sixzones)* Reconnaissance rock chip sampling at Calandria Sur returned 0.5 m (at)4.5 g/t Au and 405 g/t Ag and 0.8 m (at) 5.7 g/t Au and 241 g/t Ag.Dos Calandrias Lag Sampling ResultsFirst phase coarse-fraction (lag) soil sampling (327 samples) hasoutlined two main gold anomalies at Calandria Sur (850 m by 150 m)and Calandria Norte (550 m by 100 m). At Calandria Sur, samples werecollected every 50m on E-W lines spaced 50 m apart over an area 800by 600m. At Calandria Norte, samples were collected every 25 m alongSE-NW lines spaced 50 m apart over an area 600m by 300m.Assays ranged up to 717 ppb gold with 8% of the samples anomalous (Au> 73 ppb). Soil gold anomalies coincide with known silicified rocksand may also indicate mineralized zones concealed by thin colluvium.Follow Up ResultsFollow up of the lag sampling has discovered prospective NW and SEtrending breccia zones in float and sub-outcrop in the southernmostpart of the property with high gold and silver values in rock chips.At Calandria Sur, sulphide-rich breccias are surrounded by largerareas of low sulfide quartz stockwork/breccia zones. Rock chipsfrom the Deseada breccia zone assay up to 5.7 g/t Au and 241 g/t Ag,and up to 4.5 g/t Au and 405 g/t Ag from the El Abra breccia zonelocated 200 m NW of Deseada. The low sulphide breccias returned up to0.8 g/t Au and 36 g/t Ag and 1.2 g/t Au and 62 g/t Ag at Deseada andCristal (750m NW of Deseada) respectively (Figure 2).The Calandria Norte lava dome and surrounding pyroclastics strike NEfor more than 700 m and are cut by gold-bearing veins assaying up to0.7m (at) 20.2 g/t Au, 25 g/t Ag (see news release on 2 March 2009).Proposed Drill TestingScout drilling (1500m) is planned once permitting is completed (seeFigure 2 for preliminary drill target location). In the meantime, ashort trenching program is scheduled to further define targets incovered areas. It is anticipated that the drilling will commence nolater than October this year.BackgroundThe Dos Calandrias Project is located within Mariana ResourcesLimited's 100% owned Tongoril tenement in the central part of theDeseado Massif of Santa Cruz Province (Figure 1). Dos Calandriasfeatures a rhyolite lava dome complex and underlying pyroclasticrocks. Gold and silver vein type mineralization related to NW and NEregional structures and assaying up to 21.7 g/t Au & 62 g/t Ag wasidentified last year during reconnaissance.Commenting today, Managing Director of Mariana Resources Ltd, JohnSutcliffe said"The recently discovered breccia zones at Dos Calandrias showpotential for high-grade vein and bulk tonnage mineralization in thisexciting rhyolite dome setting in the Deseado Massif. A limitedamount of trenching will be carried out shortly and reconnaissancedrilling is planned as soon as the environmental permit is granted".ON BEHALF OF THE BOARDJohn SutcliffeManaging DirectorFor more information:Mariana Resources LimitedJohn Horsburgh (Chairman) +61 2 9437 4588John Sutcliffe +59 32 298 6464RFC Corporate Finance Limited (Nomad)Rob Adamson +61 2 9250 0041Will Souter +61 2 9250 0050FinnCap (Broker)Joe Lunn (Analyst) +44 20 7600 1658Matthew Robinson +44 20 7600 1658Or visit website at www.marianaresources.comADDITIONAL INFORMATIONThe exploration programme is being directed by the ArgentinaExploration Manager, Dr Gustavo Rodriguez under supervision ofManaging Director Mr John Sutcliffe. Exploration information in thisannouncement has been compiled by John Sutcliffe who is a Fellow ofthe Geological Society of London, a Chartered Engineer and a Memberof the Institute of Mining and Metallurgy. Mr Sutcliffe hassufficient experience relevant to the style of mineralization andtypes of gold deposit under consideration and to the activity that heis undertaking to qualify as a Competent Person as defined in theJORC Code.Lag Sampling TechniqueThe sampling procedure involves collecting 1 kg of material coarserthan a Tyler mesh #9 (2.05mm) and sieving fragments coarser thanTyler mesh #4 (typically ~ 7 mm) from 5-20cm below the surface inorder to reduce the influence of wind blown sand. The sampledmaterial is submitted to the lab, where it is dried and processedprior to analysis. Note that the lag soil grids extend over amoderate north and south-dipping slope at Calandria Sur and Norterespectively, and results may be reflect soil transport to someextent.Quality Assurance/Quality ControlAll technical information for the Company's Argentina projects isobtained and reported under a quality assurance and quality control(QA/QC) program. All samples are collected under the supervision ofthe Company geologists and dispatched via commercial transport to ALSChemex laboratories in Mendoza, Argentina, and assayed in Santiago deChile. ALS Chemex's quality system complies with the requirements forthe International Standards ISO 9001:2000 and ISO 17025: 1999.Samples returning greater than 10 g/t gold and/or greater than 100g/t silver are assayed using gravimetric analyses.Systematic assaying of sample duplicates and commercially preparedstandards and blanks is performed for analytical reliability.---END OF MESSAGE---This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 31.07.2009 - 08:04 Uhr
Sprache: Deutsch
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