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Gold/Mining/Energy : Mining News of Note

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To: LoneClone who wrote (6754)	9/17/2007 10:58:07 PM
From: LoneClone	Read Replies (1) of 193686

Mariana Resources says taken option over six areas in Chile UPDATE hemscott.com (Updates with further details) LONDON (Thomson Financial) - Mariana Resources Ltd said its Chilean subsidiary, Cia Mariana de Chile, has signed an option agreement over iron-oxide-copper-gold (IOCG) deposits in northern Chile, to acquire six concessions totaling 549 hectares, for 205,000 usd to be paid in stages. The gold and copper exploration company said a final exercise price of 600,000 usd is payable at the end of the 39 months option period. The company also said drilling is expected in the first part of 2008. In a separate statement, Mariana said it has discovered 'most exciting' new gold and silver zones at its Sierra Blanca joint venture in southern Argentina. The company said it will plan further drilling on the property in 2008. The company added it can earn a 70 pct interest in its two joint venture Argentinian properties by spending 2 mln usd by October 2009. In another statement earlier, Mariana had said it received 'encouraging' exploration results from the Marca joint venture with Dynasty Metals & Mining, which was signed earlier this year. It said it plans to begin drilling in November 2007.

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