MARIANA RESOURCES LTD
AIM and PLUS code:
MARL
21 November 2007
Channel sampling confirms bonanza silver-gold grades at Veta Chala
target at Mariana's Sierra Blanca JV project in Santa Cruz,
Argentina.
Mariana Resources Ltd (Mariana) is pleased to announce that ongoing
systematic diamond-saw channel sampling has confirmed high gold and
silver grades at the Veta Chala target in the northeastern part of
its Sierra Blanca project, Santa Cruz province. Assay results from
twelve diamond-saw channel samples yielded up to 25.7 g/t (grams per
tonne) gold and 1,150 g/t (38 oz/tonne) silver. The results follow
the announcement of preliminary rock chip sampling reported in the
announcement on October 15th, 2007.
Sierra Blanca and the nearby Cañadon Largo concessions are held in
joint venture with IAMGOLD Corporation, whereby Mariana can earn a
70% interest in the two properties by expenditure of US$2M by October
2009.
Assay Results
Twelve (12) diamond-saw channel samples have been collected
perpendicular to E-W trending Chala vein. Channels were 20 cm wide, 7
cm depth with lengths between 0.7 and 1.5 meters. Samples were
collected along 380 m of the strike length of the vein with sampling
spacings varying between 1 and 235 m because of outcrop limitations.
Infill sampling is underway.
Assays have returned up to 25.7 g/t gold & 143 g/t silver over 1.1 m
length and 8.6 g/t gold & 1150 g/t silver over 1 m length (see table
below). Samples assayed between 0.3 and 25.7 g/t Au and between 13
and 1150 g/t Ag with four samples assaying more than 5 g/t Au and 0.5
kg/t Ag.
Assay results are shown below. Sample spacing is arranged from east
(0) to west (380 m) along the vein strike length.
Cumulative Sample Sample width
length Separation No (m) Material Gold g/t Silver g/t
(m) (m)
0 0 10104 1 Silicif Bx* 1.79 348
5 5 10105 1 Silicif Bx 8.56 812
8 3 10106 1 Silicif Bx 8.61 1150
9 1 10107 1.2 Wallrock 2.98 256
25 17 10108 0.85 Silicif Bx 5.47 1040
54 29 10109 1.5 Wallrock 0.84 53
55 1 10110 1.1 Silicif Bx 25.00 143
80 26 10111 0.8 Silicif Bx 1.71 396
95 15 10112 1.1 Silicif Bx 4.26 1040
130 35 10113 0.5 Silicif Bx 0.31 104
145 15 10114 0.95 Silicif Bx 0.99 13
380 235 10115 0.7 Silicif Bx 1.68 407
* Silicif Bx means silicified breccia.
Chala Vein
The Chala vein target is located in the northeastern part of the
Sierra Blanca property and consists of a swarm of oxidized and
brecciated quartz veins up to 5 m wide and at least 800 m in length
striking east-west. Field work has recently identified a "splay" of
the Chala vein further east increasing the length of the Chala target
to more than 1,000 meters in E-W direction.
Recent work suggests that the western part of Chala vein system has
been preferentially preserved from erosion, and trenching will be
employed in the future work programme to try to determine the full
extent of the vein under the modern sedimentary cover.
Sample separation in the above table is the distance between two
adjacent samples. A plan showing sample location will available
shortly at the Mariana website.
Commenting today, Managing Director, John Sutcliffe said: "It is most
encouraging to see confirmation of the previously reported assays
obtained from reconnaissance rock chip sampling. Chala is one of
three recent new exciting vein discoveries made at Sierra Blanca
following the geophysical survey, which has helped define promising
new drill targets"
ON BEHALF OF THE BOARD
John Sutcliffe
Managing Director
For more information:
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Or visit website at www.marianaresources.com
ADDITIONAL INFORMATION
The exploration programme is being directed by the Argentina
Exploration Manager, Dr Gustavo A. Rodriguez under supervision of
Managing Director Mr John Sutcliffe. Samples were prepared by ALS
Chemex in Mendoza, Argentina, using standard industry practice.
Analytical work was carried out at the ALS Chemex laboratory in
Santiago de Chile, using conventional fire assay technique for gold
and silver. Exploration information in this announcement has been
compiled by John Sutcliffe who is a Fellow of the Geological Society
of London, a Chartered Engineer and a Member of the Institute of
Mining and Metallurgy. Mr Sutcliffe has sufficient experience
relevant to the style of mineralisation and types of gold deposit
under consideration and to the activity that he is undertaking to
qualify as a Competent Person as defined in the JORC Code.
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