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Gold/Mining/Energy : Argentina Area Play - Gold & Silver in the Deseado Massif
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From: TheSlowLane3/3/2011 6:48:57 AM
   of 34
 
Third New Epithermal Gold Zone at Las Calandrias Gold-Silver Project, Santa Cruz,
southern Argentina
Mariana Resources Ltd (‘Mariana’ or ‘the Company’), the AIM quoted exploration and
development company focused in Argentina and Chile, announces positive results from scout
drilling at the Nido Norte prospect, one of several key target areas at the Company’s 100%
owned Las Calandrias Gold-Silver Project (‘Las Calandrias’), located in the prospective
Deseado Massif gold-silver district in Southern Argentina. Sixty-two holes for a total of
9,650m have been drilled during this third drill campaign at Las Calandrias.

Overview

x Third epithermal gold zone discovered at Las Calandrias in the Nido Norte rhyolite
dome complex;

x Results from 12 exploratory drill holes within a 750m section of the 1.8km long La
Despreciada vein-breccia structure confirm the Nido Norte prospect as a prime target
for follow up drilling;

x Best epithermal vein-breccia intersections include: 26.3m @ 1.0 g/t Au and 8 g/t Ag
from 55m, 2.0m @ 3.9 g/t Au and 6 g/t Ag from 33m; and 2.2m @ 1.4 g/t Au and 59
g/t Ag from 106m;

x Mineralisation intersected along the La Despreciada vein-breccia structure is typical of an intact high level epithermal system and is centred on the large 2km x 0.6km Nido Norte rhyolite dome complex, possibly the largest in the dome field;

x Follow up drilling is now testing this 1.8km zone for higher grade targets at depth;

x Several prospective structures from ground magnetics provide new focus for Nido Norte and Calandria Norte type structure-hosted vein-breccia epithermal mineralization;

x Further assay results are awaited from scout drilling of other El Nido targets including Nido Sur and Gamekeeper prospects;

x Calandria Norte target – further bonanza silver intersections at La Morena Vein and high gold assays from La Calandria Vein were received with follow up drilling planned on both vein systems;

x Calandria Sur bulk tonnage target – exploratory drilling underway at the disseminated gold-silver discovery targeting subsurface rhyolite domes in the immediate vicinity of known mineralisation – maiden resource due by the end of April 2011.

Commenting today, Chairman John Horsburgh said, “These latest results from scout drilling
at the Nido Norte target confirm the prospect as a prime target for follow up drilling.
Mineralisation intersected is considered by Mariana geologists to be consistent with
the upper parts of a high-level epithermal precious metal system. Consequently, deeper
exploration drilling along the 1.8km Despreciada vein-breccia structure is underway to
further investigate the epithermal gold vein system and its bonanza grade potential.
Additionally, the structural setting at Nido Norte and Calandria Norte enhances the potential
of a number of unexplored structures across the dome field.”

Full release:

marianaresources.com
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