Mariana Resources updates on South American operations

Mariana Resources, the miner listed both in Toronto and London, has given a drilling update for its Argentina and Chile operations.

Mariana Resources, the miner listed both in Toronto and London, has given a drilling update for its Argentina and Chile operations.

Mariana is participating in iron oxide copper gold exploration in Chile through its 20.6% interest in SCM Tierra Noble. Cliffs Natural Resources a US based international natural resources company, holds 79.4% and is the operator.

Last quarter, a transient electromagnetic (TEM) survey was conducted by Aeroquest at the Buenaventura (51% Tierra Noble) and Rodados Negros projects (100% Tierra Noble). TEM and magnetic data processing is being finalised. A 4,000m RC drill programme is planned for Buenaventura next month, based on the preliminary results of the geophysical survey and compilation of all results to date. Project generation activities continue along the IOCG Belt with several areas of interest under investigation.

Mariana has withdrawn from an option to acquire the Jiguata property in northern Chile. Preliminary work last field season by Mariana indicated potential for high sulphidation gold mineralisation at depth. However, it was decided, after a recent strategic review, to relinquish its rights under the option agreement and return the property to Catalina Resources.

In Argentina, a first pass exploration of Mariana's eastern Deseado Massif portfolio is nearing completion, with an update to follow in the next few weeks. Review of post-resource drill results at Las Calandrias is continuing.

CM

Recommended

Share tips of the week – 19 August
Share tips

Share tips of the week – 19 August

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
19 Aug 2022
How to invest in smart factories as the “fourth industrial revolution” arrives
Share tips

How to invest in smart factories as the “fourth industrial revolution” arrives

Exciting new technologies and trends are coming together to change the face of manufacturing. Matthew Partridge looks at the companies that will drive…
18 Aug 2022
How to invest today? Look to the past, not the future
Investment strategy

How to invest today? Look to the past, not the future

The past few years have seen so many changes to our way of life that many people said we had entered a “new normal”. But as it turns out, the new norm…
18 Aug 2022
A new legal headache for Haleon
Stocks and shares

A new legal headache for Haleon

Haleon, GSK’s former consumer-products arm, spun off last month, has made a dismal debut on the stockmarket.
17 Aug 2022

Most Popular

How to protect your wealth as inflation hits new record highs
Investment strategy

How to protect your wealth as inflation hits new record highs

UK inflation has hit a new record high of 10.1%. It's going to hurt, says Dominic Frisby. Here's how you can protect your wealth.
17 Aug 2022
How to cut your energy bill
Personal finance

How to cut your energy bill

The energy-price cap will almost double in the autumn. What does this mean for your money, and how can you alleviate the squeeze? Ruth Jackson-Kirby h…
17 Aug 2022
Are GSK’s legal troubles a threat to the firm’s survival?
Biotech stocks

Are GSK’s legal troubles a threat to the firm’s survival?

Pharmaceutical giant GlaxoSmithKline is facing legal action over heartburn drug Zantac that has seen billions wiped off its market value. Rupert Hargr…
16 Aug 2022