TIDMMARL
AIM: MARL
TSXV: MRA Granite House, La Grande Rue,
26 October 2016 St. Martin, Guernsey GY1 3RS
Channel Islands
Further Exceptional Gold-Copper Intercepts Reported from both Infill and
Extension Drilling at the Hot Maden Project, North East Turkey.
Mariana Resources Limited ('Mariana' or 'the Company'), the AIM ("MARL")
and TSXV ("MRA") listed exploration and development company with
projects in Turkey, South America, and Ivory Coast, is pleased to
provide the following update on the ongoing diamond drill program at the
high grade Hot Maden gold-copper project in north east Turkey.
Results are reported for a total of 13 infill and extension drill holes
(HTD-63 to HTD-74 and HTD-76), with drill log data provided for a
further 7 holes (HTD-75 and HTD-77 to HTD-82) for which assays are
pending. The infill drilling in the Main Zone resource area has been
focused on two new section lines (4,542,225N and 4,542,125N), and forms
part of a program designed to uniformally reduce drill hole spacings to
25m x 25m and to provide detailed geotechnical data for mine development
studies. New resource drilling focused on both the "Ridge" area
(southern limit of the Main Zone resource) and the southern veinfield
discovery (Figures 1 & 2).
Highlights:
-- The highest grade gold-copper (Au-Cu) intercept to date from Hot Maden
has been returned from initial drilling along two new infill cross
sections (4,542,125N and 4,542,225N; Figures 3 & 4). This infill drilling
also successfully continues to confirm the internal continuity of
gold-copper mineralisation within the Main Zone resource area. Best
results include:
Infill Section 4,542,125N
HTD-71: 69.6 m @ 62.7 g/t Au + 2.68% Cu from 210m
downhole.
This mineralised zone includes the following subintervals:
210-217m: 7m @ 526 g/t Au + 3.28% Cu ("Ultra high grade zone")
217-231m: 14m @ 27.7 g/t Au + 3.38% Cu ("High grade zone")
231-279.6m: 48.6m @ 1.7 g/t Au + 2.39% ("Low grade zone")
Infill Section 4,542,225N
HTD-70: 63m @ 8.3 g/t Au + 1.65% Cu from 218m downhole.
Including 5m @ 35.6 g/t Au + 1.46% Cu from 225m downhole.
HTD-72: 34.5m @ 19.4 g/t Au + 1.31% Cu from 180.5m
downhole.
Including 3.0m @ 54.4 g/t Au + 1.30% Cu from 192m downhole.
HTD-77: Step forward hole to HTD-72 which intersected
43.5m of massive sulphide mineralisation from 96.0m downhole and 41.5m
of multiphase suphide-bearing breccia from 139.5m downhole. Assays are
pending.
-- The potential for the discovery of a deep (>250m), possibly fault offset
block of Main Zone-type mineralisation beneath the "Ridge" area (southern
limit of the Main Zone resource; Figure 5) has increased with the
successful intersection of high grade gold(-copper) mineralisation at
depth in two holes, HTD-69 and HTD-76. Host rocks to this mineralization
are brecciated andesites - similar to the host rocks in the Main Zone
resource - which lie immediately to the east of the dominant dacitic
breccias. Key results returned include:
HTD-69: 7m @ 19.7 g/t Au + 2.1% Cu from 351m downhole.
HTD-76: 33m @ 1.4 g/t Au + 0.99% Cu from 357m downhole,
and
11m @ 6.1 g/t Au + 0.97% Cu from 443m downhole.
-- Further encouraging assays continue to be returned from discovery
drilling in the southern veinfield. Highlights include: 2m @ 29.2 g/t Au
+ 0.40% Cu in HTD-73 (110-112m), 1m @ 13.8 g/t Au + 0.90% Cu and 15.5m @
4.6 g/t Au + 0.42% Cu in HTD-63 (13-14m and 78-93.5m, respectively), and
7.5m @ 4.6 g/t Au in HTD-66 (115-122.5m).
* Note - all intersections quoted are as metres downhole.
Links to Figures:
http://media.wix.com/ugd/24ee23_ddd13ed751ef489a9a524ae26043eaa0.pdf
Chief Executive Officer, Glen Parsons, today commented:
"Exceptionally positive results continue to be generated from the
ongoing drilling at Hot Maden.
"Infill drilling in the Main Zone has once again delivered Hot Maden's
best hole to date, with the significant bonanza grades in HTD-71 of 69.6
m @ 62.7 g/t Au + 2.68% Cu from 210m downhole, including an impressive
initial 7m at 526 g/t Au and 3.28% Cu, which further highlights the
continuity of the ultra high grade gold-copper zone. These infill holes
are effectively spaced on 25 m centres and have been designed to both
increase confidence in the reported mineral resource estimate, as well
as for the acquisition of geotechnical data for the ongoing mine
development studies.
"Encouragingly, drilling at the current southern limit of the Main Zone
resource area has also intercepted what appears to be either a deep
extension or an offset to the Main Zone. The importance of this
discovery is that we now see the potential to extend the Main Zone
mineral resource to the south.
"Further exploration drilling in the Southern Discovery Zone, located
immediately to the north of the Old Russian Mining Zone, has also
delivered strong mineralisation from sulphide quartz veins and breccias
which will ultimately add to the current initial inferred resource for
this area. Exploration drilling successfully continues to work closer to,
and into, the known mineralised Russian Zone further to the south.
"Technical studies related to mine development are ongoing, and the work
completed will be incorporated into both the Preliminary Economic
Assessment ("PEA") and Pre-Feasibility Studies ("PFS") accordingly.
"I look forward to updating the market on the anticipated PEA results
which are now expected around the end of November, along with the
further pending assays and ongoing drilling activities."
Hot Maden Gold-Copper Project Update
Recent drilling activities at the Hot Maden project have dominantly
focused on:
-- Drilling on 25m centres along two infill drill sections, 4,542,125N and
4,542,225N;
-- Deeper "step out" drilling to the east in the so-called "Ridge" area,
which is located at the current southern limit of the Main Zone resource;
-- Scout drilling of the Southern Vein Field (the northern extension of the
area mined by Russian interests pre-1923). No significant work has yet
been undertaken in the area of the former Russian Mining Zone.
Main Resource Area - Infill Drilling
Drilling commenced on 25-m centres along two infill cross sections,
4,542,125N and 4,542,225N, within the Main Zone resource area, with the
program being designed to confirm the internal continuity of the high
grade gold-copper mineralisation. On section 4,542,125N (Figure 4),
exceptionally high grade gold-copper mineralisation was intersected in
hole HTD-71 (69.6 m @ 62.7 g/t Au + 2.68% Cu from 210m downhole), with
the "Ultra high grade" and "High grade" zones along the eastern margin
of the mineralised zone returning impressive values of 7m @ 526 g/t Au +
3.28% Cu and 14m @ 3.38% Cu, respectively. Mineralisation is hosted
within multiphase, chalcopyrite-pyrite-hematite-jasper-bearing breccias.
A step-back hole to HTD-71 (HTD-82) has also just been completed and has
also intersected significant intervals of multiphase, sulphide-bearing
breccia; however, results are pending.
Four drill holes were also completed along infill section 4,542,225N
(Figure 3), with results having been received for two of these holes,
63m @ 8.3 g/t Au + 1.65% Cu from 218m downhole in HTD-70, and 34.5m @
19.4 g/t Au + 1.31% Cu from 180.5m downhole in HTD-72. The high grade
gold-copper mineralisation is associated with multiphase,
chalcopyrite-pyrite-hematite-jasper-bearing breccias. A step-forward
hole (HTD-77) successfully intersected both 43.5m of massive sulphide
(pyrite-chalcopyrite from 96m downhole) and 41.5m of multiphase
sulphide-bearing breccia (from 139.5m downhole), whilst the step back
hole to HTD-70 (HTD-75) also intersected significant intervals of
multiphase, sulphide bearing breccia; results for both of these holes
are pending.
Main Resource Area - Extension Drilling ("Ridge" Area)
Two new drill holes were completed in the "Ridge" area, located at the
southern limit of the Main Zone resource; Figure 5), and successfullly
intersected high grade gold(-copper) mineralisation at depth in
brecciated andesites that lie immediately to the east of the dominant
dacitic breccias. Significant results include: 7m @ 19.7 g/t Au + 2.1%
Cu from 351m downhole in HTD-69, and 33m @ 1.4 g/t Au + 0.99% Cu from
357m downhole and 11m @ 6.1 g/t Au + 0.97% Cu from 443m downhole in
HTD-76. The high grade mineralisation in both HTD-69 and HTD-76 is
andesite-hosted and is associated with multiphase, sulphide-bearing
breccias (similar to that of the Main Zone resource), and thereby
differs greatly from the shallow, dacite-hosted mineralisation drilled
to date in the Ridge area. These intercepts have raised the possibility
of encountering a block of fault offset, Main Zone-type mineralisation
to the east of the existing drilling, and this hypothesis will be tested
as a priority in future drilling.
Sourthern Vein Field /HTD 27 Area
Scout drilling continues in the Southern target area (the northern
extension of the area mined by Russian interests prior to 1923) with
encouraging values continuing to be returned from quartz-sulphide
veinlet/breccia zones hosted in dacitic breccias and volcanic rocks.
Highlights from the current drilling include: 2m @ 29.2 g/t Au + 0.40%
Cu in HTD-73 (110-112m), 1m @ 13.8 g/t Au + 0.90% Cu and 15.5m @ 4.6 g/t
Au + 0.42% Cu in HTD-63 (13-14m and 78-93.5m, respectively), and 7.5m @
4.6 g/t Au in HTD-66 (115-122.5m).
Assays results from the current reporting period were delayed as a
result of the detailed geotechnical logging of holes required for the
Hot Maden development (PEA and PFS) studies. Exploration activities were
also temporarily suspended during the periods July 1-11 and September
9-19 in observance of the national Ramadan and Bayram holidays.
Table 1: Summary of assays for drill holes HTD-63 to HTD-74 and HTD-76,
plus sulphide-bearing intercepts in drill holes HTD-75 and HTD-77 to
HTD-82 (Cross Sections listed from North to South)
From To Intercept Au
Drill Hole (m) (m) (m) g/t Cu % Zn % Comments
Cross
Section 4,542,275N (Main Zone) Figure 2
HTD-68 14.0 19.0 5.0 - - 1.41 Zinc Zone
42.0 50.0 8.0 - - 2.27
92.0 112.0 20.0 0.4 - 1.07
Cross
Section 4,542,225N (Main Zone) Figures 2, 3
HTD-70 28.0 30.0 2.0 - - 7.90 Zinc Zone
74.6 78.0 3.4 - - 2.65
132.0 141.0 9.0 - - 1.70
169.5 171.0 1.5 - - 3.37
181.0 183.0 2.0 - - 2.40
211.0 218.0 7.0 0.9 1.49 - Au-Cu Zone
218.0 281.0 63.0 8.3 1.65 -
Including 225.0 230.0 5.0 35.6 1.46 -
HTD-72 132.5 148.0 15.5 0.8 0.99 - Au-Cu Zone
180.5 215.0 34.5 19.4 1.31 -
Including 192.0 195.0 3.0 54.4 1.30 -
Multiphase sulphide
HTD-75 279.0 298.0 19.0 Pending breccias
312.0 318.0 6.0
331.0 336.0 5.0
350.0 375.0 25.0
387.0 417.0 30.0
HTD-77 96.0 139.5 43.5 Pending Massive sulphides
Multiphase sulphide
139.5 181.0 41.5 breccias
Cross
Sections 4,542,175N and 4,542,200N (Main Zone) Figure 2
Geotechnical hole at
HTD-65 330.5 417.0 86.5 3.4 1.44 - HTD-29
Including 373.0 374.0 1.0 40.2 1.83 -
and 411.0 414.0 3.0 38.9 0.88
Multiphase sulphide
HTD-78 296.0 318.0 22.0 Pending breccias
Cross
Section 4,542,125N (Main Zone) Figure 2, 4
HTD-71 95.0 98.4 3.4 - - 2.01 Zinc Zone
142.0 146.0 4.0 - - 2.30
162.5 172.5 10.0 - - 3.47
210.0 279.6 69.6 62.7 2.68 - Au-Cu Zone
Including 210.0 217.0 7.0 526.0 3.28 -
217.0 231.0 14.0 27.7 3.38 -
231.0 279.6 48.6 1.7 2.39 -
Multiphase sulfide
HTD-82 267.6 297.0 30.0 Pending breccias
316.0 354.5 38.5
Cross
Sections 4,542,000N and 4,542,050N (Ridge Aea) Figures 2, 5
HTD-69 83.4 86.0 2.6 - 1.40 - Step back to HTD-56
138.0 140.0 2.0 - 3.60 -
333.0 340.0 7.0 19.7 2.1 - Au-Cu Zone
344.0 347.0 3.0 3.2 1.60 -
351.0 365.0 14.0 1.1 1.08 -
373.2 377.0 3.8 4.5 1.22 -
379.0 383.5 4.5 1.5 - -
HTD-76 357.0 390.0 33.0 1.4 0.99 - Au-Cu Zone
443.0 454.0 11.0 6.1 0.97 -
HTD-80 177.0 214.0 37.0 Pending Quartz vein zone (dacite)
Cross 4,541,850N and 4,541,900N (Southern Vein
Sections Field) Figure 2
Step back to HTD-58
HTD-64 18.0 20.0 2.0 6.8 0.18 - Quartz vein zone (dacite)
182.0 183.0 1.0 6.0 0.52 -
218.0 219.3 1.3 3.0 0.20 -
337.0 338.0 1.0 5.3 0.27 -
378.0 379.0 1.0 8.1 1.25 -
HTD-79 139.0 148.0 9.0 Pending Quartz vein zone (dacite)
184.0 198.0 14.0
Cross 4,541,700N and 4,541,750N (Southern
Sections Vein Field) Figure 2
HTD-63 13.0 14.0 1.0 13.8 0.90 - Quartz vein zone (dacite)
24.0 25.0 1.0 3.9 2.38 -
78.0 93.5 15.5 4.6 0.42 -
174.5 224.0 49.5 0.46 - 2.93 Zinc Zone
Step back to HTD-63
HTD-66 26.0 27.5 1.5 3.1 0.13 - Quartz vein zone (dacite)
60.0 64.0 4.0 4.0 0.12 -
111.0 112.0 1.0 3.8 0.23 -
115.0 122.5 7.5 4.6 - -
124.0 125.5 1.5 3.6 - -
133.0 137.5 4.5 2.3 0.20 -
Step forward to HTD-63
HTD-67 35.0 50.0 15.0 - - 4.04 Zinc Zone
Step back to HTD-66
HTD-73 90.0 92.0 2.0 2.0 0.30 - Quartz veins
110.0 112.0 2.0 29.2 0.40 -
130.0 136.0 6.0 2.4 - -
Step back to HTD-53
HTD-81 4.50 106.0 Pending Quartz vein zone (dacite)
174.0 210.0
240.0 252.0
269.0 286.0
Cross 4,541,100N (Southern
Section Vein Field)
HTD-74 81.0 84.0 3.0 - - 2.10 Zinc Zone
Quality Control and Assurance
Mineralised intervals presented in Table 1 are drill intersection widths
and may not represent true widths of mineralisation. Drill core obtained
from the diamond drill program was dominantly HQ-sized core with the
remainder being PQ-sized core. All drill core was photographed and quick
logged prior to sampling. Standard sampling protocol involved the
halving of all drill core and sampling over generally 1m intervals (in
clearly mineralised sections) or 2 m intervals (elsewhere), with one
half of the core being placed in a sealed sample bag and dispatched to
the analytical laboratory for analysis. Samples have been analysed at
ALS Laboratories' facility in Izmir, western Turkey. All samples have
been analysed for gold using a 30g Fire Assay with AAS finish (or Screen
Fire Assay for higher grade samples), in addition to a 32 element
ICP-AES analysis of an aqua regia digest. Samples in which ICP analyses
returned greater than the maximum detection limit for the elements Ag
(10 ppm), Cu (10,000 ppm), Fe (15%), Pb (10,000 ppm), and Zn (10,000
ppm) were reanalysed using the AAS analytical technique, Standards and
blanks were inserted in to the analytical sequence on the basis of one
standard for every 20 samples, 2 blanks in every batch, and one
duplicate every 40 samples.
Health, Safety, and Environment (HSE)
No HSE incidents have been reported during the current diamond drill
program.
Hot Maden drill holes - technical data
Technical data relating to Hot Maden drill holes HTD-63 to HTD-82 are
given in the following tables.
Main Resource Area - Extension and Infill Drilling
Elevation Dip Depth
Hole ID Easting Northing (m) Azimuth (degrees) (m) Assays
HTD-65 740,423.8 4,542,210.5 847.8 090 -55 417 Complete
HTD-68 740,577.4 4,542,270.5 874.2 090 -60 250 Complete
HTD-69 740,456.1 4,542,056.1 904.4 085 -60 417 Complete
HTD-70 740,766.4 4,542,217.8 873.8 270 -60 354 Complete
HTD-71 740,767.1 4,542,123.3 866.2 270 -55 317.5 Complete
HTD-72 740,768.8 4,542,216.7 874.0 272 -47 261 Complete
HTD-75 740,789.8 4,542,216.8 876.4 270 -68 498 Pending
HTD-76 740,414.6 4,542,048.9 877.5 085 -60 492 Complete
HTD-77 740,765.5 4,542,218.6 873.9 270 -33 195 Pending
HTD-78 740,788.7 4,542,175.5 874.1 270 -68 549 Pending
HTD-80 740,455.8 4,542,002.8 901.1 090 -60 400 Pending
HTD-82 740,804.1 4,542,118.2 869.3 272 -57 387 Pending
Southern Discovery / Southern Vein Field
Elevation Dip Depth
Hole ID Easting Northing (m) Azimuth (degrees) (m) Assays
HTD-63 740,546.7 4,541,696.8 898.8 090 -73 283.4 Complete
HTD-64 740,428.3 4,541,871.2 898.3 090 -68 445.5 Complete
HTD-66 740,494.1 4,541,701.9 910.2 090 -70 459 Complete
HTD-67 740,593.5 4,541,706.0 893.0 090 -70 141 Complete
HTD-73 740,425.6 4,541,698.6 915.6 090 -63 288 Complete
HTD-74 740,396.9 4,541,098.4 1,084.9 090 -60 303 Complete
HTD-79 740,456.2 4,541,900.1 915.6 090 -60 399 Pending
HTD-81 740,452.9 4,541,750.3 881.0 090 -55 397.5 Pending
**ENDS**
Qualified Person
The technical and scientific information contained in this news release
has been reviewed and approved for release by Eric Roth, the Company's
Qualified Person as defined by National Instrument 43-101. Mr Roth is
the Company's Chief Operating Officer and Executive Director and holds a
Ph.D. in Economic Geology from the University of Western Australia, is a
Fellow of the Australian Institute of Mining and Metallurgy (AusIMM),
and is a Fellow of the Society of Economic Geologists (SEG). Mr Roth
has 25 years of experience in international minerals exploration and
mining project evaluation.
For further information please visit website at www.marianaresources.com
or contact the following.
Glen Parsons (CEO) Mariana Resources Ltd +61 2 9437 4588
Eric Roth (COO) Mariana Resources Ltd +56 9 8818 1243
Karen Davies (IR) Mariana Resources Ltd (Canada) +1 604 314 6270
Rob Adamson RFC Ambrian Limited (Nomad) +61 2 9250 0041
Will Souter RFC Ambrian Limited (Nomad) +61 2 9250 0050
In U.K.
Oliver Stansfield Brandon Hill Capital (UK Broker) +44 20 3463 5061
Jonathan Evans Brandon Hill Capital (UK Broker) +44 20 3463 5016
Camilla Horsfall Blytheweigh (Financial PR) +44 20 7138 3224
Megan Ray Blytheweigh (Financial PR) +44 20 7138 3203
About Mariana Resources
Mariana Resources Ltd is an AIM (MARL) and TSXV (MRA) quoted exploration
and development company with an extensive portfolio of gold, silver and
copper projects in South America and Turkey.
Mariana's most advanced asset is the Hot Maden gold-copper project in
north east Turkey, which is a joint venture with its Turkish JV partner
Lidya (30% Mariana and 70% Lidya) and rapidly advancing to development.
An updated mineral resource estimate (detailed table below) of 3.43 Moz
gold Equivalent (Indicated Category) and 0.09 Moz gold Equivalent
(Inferred Category) (100% basis) in the main resource zone as well as a
maiden 351,000 Moz gold Equivalent (Inferred Category) (100% basis) in
the new southern discovery zone was reported for Hot Maden on July 25,
2015. Elsewhere in Turkey, Mariana holds a 100% interest in the Ergama
gold-copper project.
In southern Argentina, the Company's core gold-silver projects are Las
Calandrias (100%), Sierra Blanca (100%), Los Cisnes (100%), Bozal
(100%). These projects are part of a 160,000+ Ha land package in the
Deseado Massif epithermal gold-silver district in mining-friendly Santa
Cruz Province.
In Suriname, Mariana has a direct holding of 10.2% of the Nassau Gold
project. The Nassau Gold Project is a 28,000 Ha exploration concession
located approximately 125 km south east of the capital Paramaribo and
immediately adjacent to Newmont Mining's 4.2Moz gold Merian project.
In Peru and Chile, Mariana is focusing on acquiring new opportunities
which complement its current portfolio.
Hot Maden Mineral Resource Estimate - Main Gold-Copper
Zone (2 g/t AuEq Cut-off)
Indicated Mineral Resource
Domain Tonnes Au Cu Zn AuEq Au Cu AuEq
t g/t % % g/t* Ounces Tonnes Ounces**
Main Zone LG 463,000 1.1 1.1 0.3 2.4 17,000 5,000 36,000
Main Zone HG 4,501,000 3.9 1.9 0.2 6.3 570,000 87,000 908,000
Main Zone
UHG 2,086,000 32.7 3.5 0.1 36.9 2,195,000 73,000 2,476,000
Mixed
Gold-Zinc 17,000 7.5 3.1 3.6 11.2 4,000 1,000 6,000
Peripheral
Lodes 60,000 2.1 0.4 0.4 2.5 4,000 5,000
Total 7,127,000 12.2 2.3 0.2 15.0 2,790,000 166,000 3,431,000
Inferred Mineral Resource
Domain Tonnes Au Cu Zn AuEq Au Cu AuEq
t g/t %% g/t* Ounces Tonnes Ounces**
Main Zone LG 395,000 1.7 0.9 0.03 2.8 21,000 4,000 35,000
Main Zone HG 31,000 3.9 1.6 0.1 5.8 4,000 6,000
Main Zone
UHG 6,000 39.1 2.1 0.01 41.6 7,000 8,000
Mixed
Gold-Zinc 4,000 1.7 0.4 2.4 2.2
Peripheral
Lodes 282,000 3.2 0.9 0.1 4.3 29,000 2,000 38,000
Total 718,000 2.7 0.9 0.1 3.8 62,000 7,000 88,000
Hot Maden - Southern Gold-Copper Zone (2 g/t AuEq
Cut-off)
Inferred Mineral Resource
Domain Tonnes Au Cu Zn AuEq Au Cu AuEq
t g/t %% g/t* Ounces Tonnes Ounces**
South Zone
LG 396,000 2.8 0.7 0.0 3.6 35,000 3,000 46,000
South Zone
HG 583,000 5.3 0.7 0.0 6.1 98,000 4,000 114,000
Main Zone
UHG 224,000 22.2 1.0 0.0 23.4 160,000 2,000 169,000
Mixed
Gold-Zinc 44,000 9.0 1.0 3.2 10.2 13,000 15,000
Peripheral
Lodes 104,000 1.9 0.3 0.0 2.2 6,000 7,000
Total 1,352,000 7.2 0.7 0.1 8.1 313,000 10,000 351,000
*Au Equivalence (AuEq) calculated using a 100 day moving average of
$US1,215/ounce for Au and $US2.13/pound for Cu as of May 29, 2016. No
adjustment has been made for metallurgical recovery or net smelter
return as these remain uncertain at this time. Based on grades and
contained metal for Au and Cu, it is assumed that both commodities have
reasonable potential to be economically extractable.
1. *-The formula used for Au equivalent grade is: AuEq g/t = Au + [(Cu % x
22.0462 x 2.13)/(1215/31.1035)] and assumes 100 % metallurgical recovery.
2. **-Au equivalent ounces are calculated by mulitplying Mineral Resource
tonnage by Au equivalent grade and converting for ounces. The formula
used for Au equivalent ounces is: AuEq Oz = [Tonnage x AuEq grade
(g/t)]/31.1035
Safe Harbour
This press release contains certain statements which may be deemed to be
forward-looking statements. These forward-looking statements are made
as at the date of this press release and include, without limitation,
statements regarding discussions of future plans, the realization, cost,
timing and extent of mineral resource estimates, estimated future
exploration expenditures, costs and timing of the development of new
deposits, success of exploration activities, permitting time lines, and
requirements for additional capital. The words "plans", "expects",
"budget", "scheduled", "estimate", "forecasts", "intend", "anticipate",
"believe", "may", "will", or similar expressions or variations of such
words are intended to identify forward-looking statements.
Forward-looking statements are subject to known and unknown risks,
uncertainties, assumptions and other factors that may cause actual
results to vary materially from those expressed or implied by such
forward-looking statements, including, but not limited to: the effects
of general economic conditions; the price of gold, silver and copper;
misjudgements in the course of preparing forward-looking statements;
risks associated with international operations; the need for additional
financing; risks inherent in exploration results; conclusions of
economic evaluations; changes in project parameters; currency and
commodity price fluctuations; title matters; environmental liability
claims; unanticipated operational risks; accidents, labour disputes and
other risks of the mining industry; delays in obtaining governmental
approvals or in the completion of development or construction
activities; political risk; and other risks and uncertainties described
in the Company's annual financial statements for the most recently
completed financial year which is available on the Company's website at
www.marianaresources.com . Although we believe that the expectations
reflected in such forward-looking statements are based upon reasonable
assumptions and have attempted to identify important factors that could
cause actual results to differ materially from those contained in
forward-looking statements, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can be
no assurance that such statements will prove to be accurate, as actual
results and future events could differ materially from those anticipated
in such forward-looking statements. Accordingly, readers are cautioned
not to place undue reliance on forward-looking statements. We do not
undertake to update any forward-looking statements, except in accordance
with applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
This announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the information
contained therein.
Source: Mariana Resources Ltd via Globenewswire
http://www.marianaresources.com/index.php
(END) Dow Jones Newswires
October 26, 2016 02:01 ET (06:01 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
Mariana (LSE:MARL)
Historical Stock Chart
From Apr 2024 to May 2024
Mariana (LSE:MARL)
Historical Stock Chart
From May 2023 to May 2024