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That is in Peru, just so you know
Mariana Resources, the AIM quoted exploration and development company focused in Peru and southern Argentina, has commenced additional drilling at the 102 sq km Condor de Oro copper-gold-molybdenum project, located along the prolific Cordillera del Condor gold-copper belt in Northern Peru.
Mariana’s decision to extend the drill programme into 2014 with an initial 3 holes follows the positive results received from the 2013 drill programme where strong porphyry-style copper-molybdenum mineralisation, specifically in drill hole CDOYE-5, was identified. Mariana performed further geochemical sampling over key areas on the Pucayacu target at Condor de Oro early this year to assist in positioning these key holes whilst vectoring to the “core zone” of mineralisation. The first drill hole of this programme, CDOYE-6 is now underway.
Mariana Resources Chief Executive Officer Glen Parsons today commented, “We are delighted to inform the market that drilling has recommenced at the potential company maker Condor de Oro project where we believe significant prospectivity exists for the project to contain a large copper-gold porphyry system. From last year’s campaign, we know we are dealing with a multiphase, mineralised intrusive system, currently over 1.5 x 1.5 km in extent, and we are now focusing on the potential greater mineralised “core zone” and other prospective priority areas within this drill programme. Importantly, we confirm the local Los Naranjos community involvement and support with the programme as we continue to strengthen and develop a sustainable working relationship for the ultimate success of the project.”
“As previously disclosed, Mariana’s intention was to be back drilling Condor de Oro by June and I am pleased that we have been able to deliver on our stated objectives and to meet expectations.”
“Furthermore, we have completed our drilling programme at our second Peruvian project, Soledad, in central Peru, for 2,084m, and we look forward to receiving the results from our deeper holes as mentioned in our last release of 17 June 2014. Hole 9 from Soledad will be the next hole to be reported which specifically targeted the deeper feeder zone of Breccia 1 and intersected strong breccia-hosted copper mineralisation from 91m to 265m with assay results pending. We look forward to updating the market in the coming weeks as news unfolds at both Condor de Oro and Soledad.”
Objective of the extended drill programme at Condor de Oro
Mariana is planning a minimum of 3 additional holes targeting the following key area:
Core Zone – The 800m diameter Core Zone is defined by an inner circle of anomalous Mo-(Cu-Ba-Sb)-Al-K-Na, centred approximately 500m N of CDOYE 5. Recognition of the core of the complex is an important breakthrough as it is a prime target with greatest grade/tonnage potential, particularly for diorite-hosted copper mineralisation concealed beneath the flanks of dacite domes. The Core Zone is open to the north.
Northern Zone – The Northern Zone is a high elevation target area immediately north of the Core Zone and has potential for diorite (Cu) and phreatic breccias (Cu-Au). It includes a prominent ridge trending west from Holes 2/3 with strong Cu + or – Pb/Zn in soils.
Western and South Western Zone – This area has potential for copper mineralised diorite concealed under the dacite porphyry dome margins. It includes the South Western Zone (magnetic feature) on the margin of dacite porphyry where mapping has identified the most intense alteration and rock chip sampling, the strongest Cu-Mo grades. As previously reported, high grade gold was intersected in Hole 4, with important structural controls identified.
