AngloGolds’ £5.4 million investment in Mariana is a “significant endorsement of the prospectivity of Las Calandrias and Mariana’s wider land holdings in Santa Cruz”
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Mariana Resources Ltd is a Guernsey incorporated investment holding company established to acquire potentially large or high value gold and copper-gold prospects in Chile, Argentina and other selected parts of South America.
The Group's strategy is to seek underexplored areas with potential for high grade polymetallic-gold epithermal/skarn mineralisation. Mariana brings to bear considerable field experience in this regard and early recognition of critical geological features is an important aspect.The Mariana Team brings together over 150 years of combined industry experience, with a specific South American focus.
25/01/12
Mariana Resources Ltd : Presentation at the 201218/01/12
News18/01/12
Mariana Resources Ltd : Issue of Equity17/01/12
News13/01/12
News17/11/11
AngloGolds’ £5.4 million investment in Mariana is a “significant endorsement of the prospectivity of Las Calandrias and Mariana’s wider land holdings in Santa Cruz”
03/11/11
South American gold explorer Mariana Resources is heavily undervalued compared to its peers, according to analysts at Fox-Davies. In a note to clients today the broker began its coverage on the stock with a ‘buy’ recommendation.
02/11/11
Mariana Resources today released the results of the first 28 holes in the recently completed Phase IV drill programme on the Calandrias gold-silver project, in Argentina’s Santa Cruz province.
09/06/11
Chairman John Horsburgh talks enthusiastically about the Las Calandrias Project in Argentina, where a 30,000 metre drilling campaign appears only to have scratched the surface.
03/03/11
Argentina’s Deseado Massif gold-silver district was in focus today with with next door neighbours Mariana Resources and Minera IRL delivering upbeat news. Minera’s Escondido project borders Mariana’s Calandria Sur – and according to analysts shares the same gold mineralisation.
19/01/12
Mariana Resources' acquisition of El Aguila gold project shows good potential, says Fox-Davies18/01/12
Mariana Resources expands Picadero gold and silver project with option deal13/01/12
Mariana Resources says drill results from Las Calandrias indicate expansion potential - UPDATE13/01/12
Mariana Resources says drill results from Las Calandrias indicate expansion potential19/12/11
Mariana Resources completes strategic share placement to AngloGold Ashanti28/09/2011
12/11/2009
10/07/2008
Presentation: Gold, Silver & Copper in Chile & Argentina01/09/2008
Mariana News Letter18/11/2008
Mariana - Full Research Note20/05/2011
Mariana Resources' Corporate Presentaion
Mariana Resources Ltd is an AIM and TSX quoted exploration and development company with an extensive portfolio of gold, silver and copper projects focussed in Santa Cruz province, Argentina and Chile. These projects are either held 100% or in separate joint ventures with current partners IAMGOLD, Hochschild Mining and Cliffs Natural Resources.
Argentina
The Deseado Massif is a highly prospective epithermal gold-silver district situated in mining-friendly Santa Cruz province, southern Argentina. Mariana has concentrated its efforts over its flagship Las Calandrias and promising Sierra Blanca gold-silver discoveries.
Mariana’s rapidly developing portfolio includes:
Las Calandrias 100% – Mariana released an initial National Instrument 43-101 resource statement for its flagship gold-silver discovery in July 2011. Drilling in Q3/Q4 2011 is testing 10 target areas, all outside the initial resource outlines.
The initial combined resource for Calandria Sur and La Calandria is 519,000 ounces gold equivalent (“AuEq”) and comprises 491,000 oz Indicated and 28,000 oz Inferred:
11,840,000 tonnes @ 1.0 g/t gold (Au) and 17.4 g/t silver (Ag) Indicated
870,000 tonnes @ 0.9 g/t Au and 5.2 g/t Ag Inferred
Note: AuEq assumes dividing the silver ounces by 60 and adding it to the gold ounces and full metallurgical recovery.
Sierra Blanca – Mariana’s second advancing silver-gold project is 70% owned with partner IAMGOLD 30%. (Mariana has an option to acquire 100% by the end of 2011).
This project with over 3km aggregate epithermal vein trend has delivered robust drill results with numerous ore-grade silver-gold intersections with a third drilling campaign Q4 2011.
Los Amigos joint venture – Mariana(49%) and Hochschild Mining (51% operator) are exploring highly prospective epithermal vein systems in the western sector of the Deseado Massif.
Santa Cruz Land Package – Mariana’s land package includes 160,000 hectares of tenements with potential to generate additional projects with a number of target areas already identified from reconnaissance work.
Chile
Cliffs Joint Venture – Mariana (30% participating) is exploring for iron oxide-copper-gold deposits (‘IOCG’) in north-central Chile along the highly prospective Atacama Fault Zone with US based Cliffs Natural Resources Inc.. (operator).
Mariana Chile – Mariana is also evaluating a number of gold-silver and copper-gold opportunities and has optioned the Jiguata high sulphidation gold-silver project in Region I which has potential for a concealed epithermal system



John Horsburgh
BSc, ARSM, MSc, DIC, FAusIMM, FSEG, Chairman
John Horsburgh, a graduate of the Royal School of Mines, Imperial College, London is a geologist with more than 40 years experience in exploration, project development and company management. He was a co-founder of Solomon Pacific Resources NL which achieved success with the discovery and development of the Brocks Creek gold mine in the Northern Territory in Australia. As Executive Chairman he was involved in the acquisition, exploration and financing of the project. Prior to this, he was Exploration Manager for SE Australia with Getty Oil Development (minerals division). Before Getty, John gained extensive exploration experience with Billiton and the RTZ Group in Australia, South America and Europe. He has been involved in a number of lead-zinc and gold discoveries in Queensland, New South Wales and Western Australia. He is a director and a co-founder of Cullen Resources Ltd which is a partner in the Mt Stuart Joint Venture, a new iron ore development project in the West Pilbara, Western Australia.
Glen Parsons
CASA, B Com Economics, Director Finance and Corporate Development
Glen Parsons has over 20 years international experience in corporate finance, treasury, operational and general management. The most recent role was as Chief Financial Officer and Corporate Development of Neptune Minerals Plc. He has built new profitable businesses and divisions within both large and small organisations. Glen was an executive director of RFC Corporate Finance Ltd, a specialist minerals resources investment bank and fund manager. Duties included corporate finance mandates which included mergers and acquisitions, strategic advice, mineral project assessment and capital raisings. He has specific LSE-AIM experience and has been involved with a number of successful equity and debt raisings for junior and developing mining companies. Glen is a qualified Chartered Accountant with an Honours degree in Accounting Science and a Bachelor of Commerce degree in Economics.
Non Executive Directors
Raymond Angus
BAppSc, MSEG, Non Executive Director
Committees: Audit Committee, Remuneration Committee (Committee Chairman).
Ray Angus is a geologist with over 20 years experience in the Americas, Africa, Australia and the Middle East. He graduated with a Bachelor of Applied Science - Applied Geology from the Queensland University of Technology in 1987. He worked in mineral exploration and mining for Cyprus Gold Australia followed by postings in Zimbabwe and Saudi Arabia. In 1994, Ray established a foothold in Peru, working in property evaluation and new business opportunities. He obtained a senior position with Newcrest Mining (Peru), followed by consulting assignments to companies including Queenstake, Goldfields Limited and Billiton. He was co-founder of Monterrico Metals from incorporation to quotation on AIM in 2002. He served as Executive Director and Chief Operating Officer, and was responsible for the identification and acquisition of the Rio Blanco copper-molybdenum project in northern Peru. He managed the resource definition drilling which ultimately reported 1.26 billion tonnes at 0.57% Cu + 228 ppm Mo. A Detailed Feasibility Study was based upon a mining scenario of 25Mtpa for an initial 20 years estimated, with a Capex in excess of US$1.4Bn. In April 2007 Monterrico was acquired by the Chinese-lead Zijin Consortium, valuing the Company at £98.0 million.
Randy Turner.
B.Sc., P.Geo, Non Executive Director
Committees: Audit Committee, Remuneration Committee.
Randy Turner is a Vancouver based geologist with over forty years of experience in the Canadian and International mineral exploration, financing and business arena. He is currently President and CEO of Silver Quest Resources Limited (TSX.V: SQI), a leading gold and silver exploration company focussed in Canada. Amongst many other achievements, he was instrumental in guiding Winspear Diamonds Inc. from the discovery of the Snap Lake diamond deposit in northern Canada through to its sale to the De Beers Canada Mining Corp. for C$305 million in 2000. Furthermore, earlier in his career, as president of Trimin Resources Ltd, Mr Turner was involved in the development and sale of the McIlvenna Bay copper/zinc deposit in Saskatchewan, Canada. Prior to his time running junior exploration companies, Mr. Turner spent 20 years as a geologist with Esso Minerals Canada and AGIP Mining Ltd exploring for uranium, gold and base metals in Canada, Australia and the United States.
J. Christopher Mitchell.
(Age 70) BSc, (Hons. Chem.), MSc (Metallurgy), MBA (Fin.)
Committees: Audit Committee (Committee Chairman), Remuneration Committee.
Chris Mitchell is a Vancouver based financial advisor to listed companies active in the mineral exploration and production arena. During an international career spanning more than 40 years, he has served in senior executive positions with several listed minerals exploration and mining companies. He currently serves as Chief Financial Officer of several TSX Venture Exchange listed companies and as a non-executive director of three junior minerals exploration companies listed on the TSX Venture Exchange. He is also principal of Adera Company Management Inc., a private consulting company which provides financial and administrative management services to smaller public companies.
Management
Dr. Gustavo Rodríguez
(Age 38) BSc, PhD, MSEG, Country Manager Argentina
Gustavo Rodriguez has been working as a geologist for over 12 years in Latin America largely in Argentina and Venezuela. He holds a B.Sc. degree in geology and a PhD in geology from the University of the Córdoba, Argentina. He is member of the Society of Economic Geologists (SEG) the Society for Geology Applied into Mineral Deposits (SGA) and the Argentinean Geological Society (AGA). Gustavo has been a Doctoral Fellow of the Argentinean Council for Scientific and Technical Research (CONICET) while studying the timing and nature of gold mineralization in orogenic (turbidite-type) gold deposits of Puna, Argentina.
He has held positions at several companies including Sunshine Mining (formerly owner of Pirquitas mine), IAMGOLD Corp., and Crystallex International. Most recently as Crystallex’s Chief Geologist, he executed a resource definition drilling program on the Las Cristinas Gold Deposit in Venezuela, which resulted in measured and indicated resources increasing by 4.5 million ounces.
Gustavo has been instrumental in the acquisition of Mariana extensive land package in Santa Cruz of Southern Argentina using satellite imagery, structural analysis and mineral alteration techniques and in the discovery of new gold-silver deposits at Mariana’s Las Calandrias and Sierra Blanca Projects.
Dr. Luis Ignacio Silva
(Age 67) BSc. (Geol.) Ph.D. (Geol.) CEng. Country Manager, Chile
Luis Ignacio Silva graduated in 1972 with a degree in Geology from University of Chile. He obtained his Ph.D. in Geology at the University of London, UK (University College, 1980), Chartered Engineer (CEng) from The Engineering Council (U.K.) and has been a Member of the IOM3 (UK) since 1985. He is a Professional Geologist and member of the Chilean Geologist Association.
He has a broad experience in exploration, mining and environmental studies gained over 30 years managing projects in Chile and Panama, with additional experience in Argentina, Bolivia, Costa Rica, and Peru.
Luis Ignacio has taken projects in Chile from early exploration to discovery, feasibility studies and environmental permitting prior to development. He was the General Manager of Coro Mining Corp. prior to its IPO and was directly responsible for the identification, evaluation and bringing the Cerro Colorado- Chacay project in Chile's Atacama Region, into the pre-feasibility stage.
Luis Ignacio is the Director of Georecursos Consultores Ltda., a consulting exploration, mining and environmental studies firm, founded in 1983, with studies done for the government, local private companies and international companies such as Talison Lithium, Cominco, Pegasus Gold, Freeport McMoRan, Minera Silex, SCM Vismand, Samsung, Sunrise Minerals, Homestake, Codelco, Cyprus-Amax, Shell Billiton, Golder Associates.
Company Secretary
Federal Trust Company
Granite House
La Grande Rue, St Martin,
Guernsey GY1 3RS
tel: +44 1481 234101
Lawyers
Watson, Farley & Williams LLP
15 Appold Street
London, EC2A 2HB
England
Public Relations
St Brides Media & Financial Ltd
Chaucer House 38 Bow Lane
London, EC4M 9AY
England
tel: 020 7236 1177
fax: 020 7236 1188
Nominated Advisor (Nomad)
RFC Corporate Finance Ltd
14th Floor, 19-31 Pitt St
Sydney NSW 2000
Australia
tel: +61 2 9250 0041
Broker
FinnCap
4 Coleman St
London EC2R 5TA
England
tel: +44 207 600 1658
fax: +44 207 600 1659
Registrars
Computershare Investor Services (Guernsey) Limited
C/o Queensway House,
Hilgrove Street,
St Helier,
Jersey JE1 1ES
Channel Islands.
Registered Office
Granite House
La Grande Rue, St Martin,
Guernsey GY1 3RS
tel: +61 2 9437 4588
fax: +61 2 9437 4599
John Horsburgh
tel: +61 2 94374588
john@marianaresources.com
Glen Parsons
glen@marianaresources.com
tel: +61 2 94374588
Sydney Office
Level 5, 22 Atchison Street
St Leonards NSW 2065
Australia
tel: +61 2 9437 4588
fax: +61 2 9437 4599
info@marianaresources.com
Mendoza Office
Minera Mariana Argentina S.A.
Espana 776-3er. Piso-Dpto. 3-
(CP 5500) Ciudad
Mendoza, Argentina.
Santiago Office
Compania Minera Mariana de Chile Limitada
Padre Errazuriz 8090, Las Condes
Santiago, Chile.
Copiapo Office
At 19 October 2011.
| Issued capital | 181,559,930 | Ordinary shares | Unrestricted, none held in Treasury |
| Options | 14,711,000 |
The holders of more than 3% of the fully paid shares on 31 January 2011 are listed below, with those of directors:
| Name | No. of shares held | % held |
|---|---|---|
| Hochschild Mining Holdings Limited | 11,002,948 | 6.06 |
| X-Cap Securities | 8,370,271 | 4.61 |
| Craton Capital | 8,000,000 | 4.41 |
| Australian Investors P/L | 7,547,500 | 4.16 |
| Ray Angus* | 6,504,300 | 3.58 |
| JP Morgan Natural Resources Fund | 6,382,225 | 3.52 |
| J. P. Morgan Funds | 6,290,740 | 3.47 |
| John Horsburgh* | 3,487,502 | 1.92 |
| Total | 57,585,486 | 31.73 |
* Directors’ holdings include associates. Percentage of shares not in public hands - Directors and management hold 8.28% of issued shares.
Updated from company website 25.10.11