Mariana Resources (AIM: MARL) expects to receive the first batch of assays from its exploration of the wholly-owned Las Calandrias Project in the Santa Cruz Province of Southern Argentina. Drilling, as part of the 3,500m programme, is ongoing and Mariana is testing the property’s priority targets - Calandria Sur, El Nido and Calandria Norte.
At Calandria Sur, Mariana has completed 14 holes covering a total of 1,560m. So far, the drilling work has encountered broad zones of brecciation, silicification and stockwork marcasite mineralisation ranging from 14m to 80m down-hole.
"We are pleased to report good progress of the drilling at Las Calandrias with the first batch of assays results expected by around the end of April. The wide zones of brecciation and stockwork sulphide mineralization in these latest holes are most encouraging”, Mariana Resources MD John Sutcliffe commented.
To date, the drilling at Calandria Sur has been testing down-dip extensions below the 2009 drill holes - CS13, 15 and 16 - and possible strike extensions west and northwest along the rhyolite dome. The new undercut holes are testing 50 to 60m below previous intercepts, with approximately 40m between drill sections.
A total of 495 samples from the first four diamond holes have been submitted to the assay laboratory and initial results are expected late April, with remaining batches to follow in sequence.
“The recent bonanza gold and silver assays in follow up channel sampling at the El Nido Norte prospect are very exciting and present new drill targets" Sutcliffe added.
At El Nido Norte, ongoing exploration has identified a north-east trending 50x80m veined area, abundant visible gold and silver mineralization was noted in a narrow mineralized structure within this zone, Mariana stated. Surface channel samples returned bonanza gold and silver assays including 0.4m at 62 grams per tonne (gpt) gold and 332gpt silver, 0.5m at 106 gpt gold & 510 gpt silver and 0.7m at 75.4 gpt gold & 2,490gpt silver.
Further work is continuing at El Nido Norte with detailed mapping, lag sampling and limited trenching in progress. Mariana said that this new target will be tested as part of the current drill programme.
In total the 5,600 hectare Las Calandrias project consists of four key target areas: Calandria Sur, Calandria Norte, El Nido Este and El Nido Norte. The latest drilling program follows extensive exploration activity in the area, after the Calandria Sur discovery in late 2009. Recent exploration consisted of detailed mapping, rock chip geochemistry and an Induced Polarization Survey (NYSE:IP).
Las Calandrias, which was formerly the Dos Calandrias project, was subsequently extended to include the Calandria Sur and Calandria Norte mineralised rhyolite dome complexes to south-east and the recently discovered El Nido dome complex located to the west.
Disclosure: The author holds no positions in the company