Mariana Resources acquires assets in Turkey and Chile

18th Sep 2014 08:42

South America-focused explorer Mariana Resources has announced it will add assets in Turkey and Chile to his portfolio, after completing the acquisition of Aegean Metals Group.The agreement values Toronto-listed Aegean at C$2.4m after Mariana agreed to pay 6.25 cents per share."Adding Aegean's four gold-copper-silver projects in Chile and Turkey will further bolster our existing South American portfolio and expose Mariana shareholders to fully funded advanced exploration in the Tethyan Porphyry-Epithermal Belt of Turkey,” said group chief executive Glen Parsons.“Our strategy is to advance exploration assets in underexplored highly prospective target areas and this merger will now position Mariana in some of the most prospective epithermal gold terrain.”The projects at Ergama and Hot Maden on the Tethyan Porphyry-Epithermal Belt of Turkey are among the four “highly prospective” gold, copper and silver sites the group will assume control of, while the firm will also take over two properties in Northern Chile.The Exploradora East and Doña Inés projects are located in one of Chile's most productive copper belts and within an underexplored gold-silver belt that extends north from the Maricunga gold belt to the Peruvian border, respectively.Mariana shares were up 22.97% to 2.28p at 08:38 on Thursday.