Mariana shares up eight percent on positive Peru exploration results

17th Feb 2014 16:01

Shares in AIM-quoted Mariana Resources jumped eight percent on Monday following news of positive exploration results at its Soledad gold, silver and copper prospect in Peru.The company said the project is only 34km south of the Pierina gold and silver mine operated by Barrick Gold Corporation. Mariana has an option to earn a 70% interest in Soledad through its agreement with Condor Resources, which wholly owns the project.Based on the results, a 2,000m drilling programme is planned for the second quarter of this year to prove the project's grade and bulk tonnage gold, silver and copper prospectivity, said Mariana Chief Executive Officer, Glen Parsons."These positive sampling results corroborate historic results of strong mineralisation whilst importantly highlighting new target areas with multiple facets over a large area. In light of these results, 2014 has started with momentum as we gear up for a busy season ahead," Parsons added.The company also announced that a contractor kidnapped last week near the Condor de Oro project in northern Peru had been freed.FP