Mariana Resources, the mineral exploration company focused on South America, says it may have found gold at its Santa Cruz project in southern Argentina.
The news comes in an update on its drilling programme today in which the firm's Chairman, John Horsburgh, says: "The Phase IV drill program has discovered a large 'blind' ... system at El Clavo with substantial intersections strongly anomalous to low grade gold, the root zones of which could host high grade mineralisation."
Investors will note the caveats in Horsburgh's comments nevertheless the stock had gained 1.2% by 11.03.
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Over the last year Mariana has not had a happy time on the markets, losing 78% of its value.
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