Mariana Resources Ltd. Drill Update, Santa Cruz, Southern Argentina
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 06/14/12 -- Mariana Resources Ltd. (TSX: MRY)(AIM: MARL) ('Mariana' or 'the Company'), the AIM and TSX quoted exploration and development company focused on Argentina and Chile, reports that it has completed a diamond drilling programme at its flagship Las Calandrias gold-silver project ('Las Calandrias'), in the Santa Cruz Gold Province of southern Argentina (see Figure 1).
Twenty-one holes for 2,164m of a planned 2,705m were completed despite difficult access problems caused by extreme winter weather conditions. The holes were designed to test new targets that were identified adjacent to and outside the current Calandria Sur resource limits and also to validate revised geological models following compilation of detailed mapping, trench/outcrop channel sampling, re-sampling of previous drill core and detailed ground magnetics (see Figure 2). The programme included the deepening of six previous drill holes.
At the Nido Este target area, 750m NW of Calandria Sur, two holes were drilled to test a prominent NE structural corridor adjacent to a strong chargeability and geochemical anomaly. However, two holes planned to test the Pichones target, 2,500m NW of Calandria Sur, that may overlie a centre of blind mineralisation, were not drilled due to access problems.
Results of this drilling plus the re-sampling programme of selected previous holes are expected to be released over the coming weeks.
Access to the Aguila project, located 60km south of Las Calandrias, was not possible because of the severe weather conditions and drilling is now re-scheduled to start in Spring when conditions improve sufficiently to allow access.
To view the Figures referred to in this announcement go to: http://www.marianaresources.com/pdf/release/Mariana_120614.pdf
For further information please visit website at www.marianaresources.com.
About Mariana Resources
Mariana Resources Ltd is an AIM and TSX quoted exploration and development company with an extensive portfolio of gold and silver projects in Argentina and Chile. In southern Argentina, the Company's core gold-silver projects are Las Calandrias (100%), Sierra Blanca (100%), Los Amigos JV (49%) and Aguila-Picadero (100%). These projects are part of a 200,000+ Ha land package in the Deseado Massif epithermal gold-silver district in mining-friendly Santa Cruz Province. In Chile, Mariana has a joint venture with US based international mining and natural resources company Cliffs Natural Resources Inc., to explore for iron oxide-copper-gold deposits in a 92,000 km2 area in north-central Chile along the highly prospective Atacama Fault Zone. Mariana is also evaluating a number of gold-silver and copper-gold opportunities away from the Cliffs JV area.
Safe Harbour
This press release contains "forward-looking information" within the meaning of Canadian securities legislation ("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 and silver; 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 information form and MD&A for the most recently completed financial year available on SEDAR. 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 NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
Contacts:
In Australia:
Mariana Resources Ltd
John Horsburgh
Chairman
+61 2 94374588
Mariana Resources Ltd
Glen Parsons
CFO
+61 2 94374588
RFC Ambrian Limited (Nomad)
Rob Adamson
+61 2 9250 0041
RFC Ambrian Limited (Nomad)
Will Souter
+61 2 9250 0050
In U.K.:
Fox Davies Capital (Co UK Broker)
Jonathan Evans
+44 20 3463 5000
St Brides Media and Finance Ltd (PR)
Felicity Edwards
+44 20 7236 1177
RFC Ambrian Limited (Co UK Broker)
Klara Kaczmarek
+44 20 7634 4725
In Canada:
Mariana Resources Ltd (Vancouver Office)
Kathryn Witter
+1 604 669 9336
www.marianaresources.com
