Mariana Resources (MARL.L, MARL.V) has reported on the assay results from 12 infill and extension drill holes at its ultra high-grade Hot Maden project in Turkey. With almost 35 meters true width containing 82.2 g/t gold and 1.44% copper, this infill hole is hands down one of the best copper-gold intervals we have seen in the past few years, and validates the concept and increases the credibility of the existing resource estimate as the infill holes were drilled at a 25 meter spacing.
The publication of the PEA has been delayed but should now be released ‘early in the new year’, so we are hoping to see the economics for this high-grade copper-gold system in the first few weeks of January, where after Mariana Resources will start an additional 20,000 meter drill program.
Mariana has also started a 7 hole drill program at its 22 square kilometer Ergama copper-gold project in one of Turkey’s most prospective regions. Drilling should be almost completed by now, and assay results are expected at the end of January/early February.
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The author has a long position in Mariana Resources. Please read the disclaimer
