The latest assay results from ongoing drilling at the Hot Maden copper-gold joint venture project of Mariana Resources and Turkish partner Lidya are likely to confirm the potential of the Turkish project. They are helping to confirm the continuity of mineralisation and may contribute to expanding the size of the resource.
The company has received results from 19 new drill holes, all of which were completed around the Main Zone resource area and the Ridge Area, which is the transitional zone between the Main Zone and new Southern Deposit. Mariana holds 30% of the project and Lidya the remainder.
Two of the reported drill holes form part of the 25 x 25 metre infill drill program under way in the Main Zone resource area, with the remainder being step-out holes designed to extend known high grade gold-copper mineralisation.
Best Main Zone results are 79 metres from 248 metres downhole @ 8.1 g/t gold and 1.9% copper, including 34 metres from 256 metres @ 15.2 g/t gold and 1.6% copper; 74 metres from 326 metres downhole @ 3.0 g/t gold and 1.57% copper, including 28 metres @ 6.3 g/t gold and 1.88% copper, and 29 metres from 422 metres @ 0.3 g/t gold and 1.31% copper; 116.5 metres from 244.5 metres @ 6.7 g/t gold and 1.7% copper, including 16 metres from 249 metres @ 35.7 g/t gold and 2.9% copper; and 33 metres from 393 metres @ 4.1 g/t gold and 1.24% copper, including 9 metres from 410 metres @ 13.3 g/t gold and 1.8% copper.
Discovery drilling under the Ridge Area continues to return excellent results. Best results are 29 metres from 151 metres downhole @ 6.8 g/t gold and 0.49% copper; 32.8 metres from 311.8 metres @ 15.5 g/t gold and 1.07% copper.
High grade gold-copper assays associated with vein/breccia zones continue to be returned from other scout holes in the Ridge Area. Highlights include 2 metres from 329 metres downhole @ 41.8 g/t gold and 2.47% copper; 1 metre from 339 metres @ 21.7 g/t gold and 0.57% copper; 1 metre from 350 metres @ 19.2 g/t gold and 3.20% copper; and 2 metres from 260 metres @ 49.9 g/t gold and 0.14% copper.
Including the Ridge Area discovery, multi-phase gold-copper mineralisation has now been drilled over a strike length of 700 metres at Hot Maden.
No drilling has yet been in the southernmost Russian Mine Zone, which is about 1.5km south of the Main Zone Resource and where high grade copper-gold mineralisation was extracted prior to 1923 by Russian mining interests. Initial drilling of this prospective zone is now expected to be undertaken during the June quarter.
Mariana’s CEO Glen Parsons said, “The focus for Mariana and the joint venture over the last two months has been to develop greater confidence in the resource area at Hot Maden for the purposes of completing the Preliminary Feasibility Study (PFS).
“Both infill and step-out drilling has occurred around the Main Zone resource area. Results continue to impress and increase our confidence in the high grade mineralisation and continuity thereof.
“Furthermore, drilling for extensions towards the New Southern Discovery zone has yielded particularly encouraging results with nice high grade intercepts complementing the existing mineral resource. If one compares the mineralisation footprint on the drill plan to that of late last year we can see the growth and continuity that has been achieved, with a mineralised strike length now of 700 metres, and which we are confident will translate into an increased mineral resource for this developing new zone.
“Drilling is continuing with one rig around the Main Zone for the completion of PFS-related studies. Meanwhile, the second drill rig is focused on the New Southern Zone extensions and the third rig, which has now arrived, will be deployed over various targets, including the undrilled Russian Mine Zone.”