Mariana Resources reports exceptional gold-copper grades at Hot Maden

20th Dec 2016 13:01

(ShareCast News) - Mariana Resources Ltd said that exceptional gold-copper grades continue to be returned from drilling along two infill cross sections at Hot Maden in Turkey.The AIM-quoted outfit said this infill drilling continued to confirm the internal continuity of gold-copper mineralisation, including the high grade, within the Main Zone resource area.Chief executive Officer Glen Parsons noted that the continuity of these additional drill results added further confidence in the main zone, with the 25m infill holes further supporting continuity of the high grade gold and copper mineralisation."These results all build into the Preliminary Feasibility Study model which is due for completion around mid next year, ultimately paving the way for mine development," Parsons said in a statement.He added that, encouragingly, the growth potential for the further extension to the main zone in of the offset block to the south as well as further interesting intercepts in the Sourthern Vein Field discovery area continued to be enhanced."Planned budgeted drilling for 2017 of 20,000m will be focussed on the areas that have been delivering to date, as well as the untested area to the south, the 'Russian Mining area'."The much anticipated PEA, although slightly delayed, is nearing completion and is expected to be delivered early in the New Year."At about 12:58 GMT, shares in Mariana were down 2.62% to 65p.