Mariana Resources

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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.

Mariana Resources names Glen Parsons as director finance and corporate development

Friday, March 05, 2010
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Mariana Resources Ltd (AIM: MARL) said it appointed Glen Parsons as director finance and corporate development with immediate effect.  He will oversee the financial operations and corporate strategies of the company as it advances its gold, silver and copper projects in Argentina and Chile.

Parson has over 20 years' international experience in corporate finance, treasury, operational and general management. The most recent role was as CFO and corporate development officer of Neptune Minerals PLC.

He was also an executive director of RFC Corporate Finance Ltd, a specialist minerals resources investment bank and fund manager.  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, Mariana said.

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Chairman John Horsburgh commented:  "Glen's appointment is an important step for Mariana as it progresses its portfolio of advanced projects in South America, in particular the Calandria Sur gold-silver discovery.  His experience in capital markets will be a great asset as the company moves forward."

The group said yesterday it will shortly begin drilling on the wholly-owned Las Calandrias project, which includes the newly discovered El Nido rhyolite dome complex, in the Santa Cruz province of Argentina. The program follows extensive exploration activity in the area, after the Calandria Sur discovery in late 2009. Recent exploration consisted of detailed mapping, rock chip geochemistry and an Induced Polarization Survey (IP).

"The recently discovered 10sq km Las Calandrias - El Nido dome complex greatly increases the exploration potential of the Las Calandrias project for both high-grade vein and bulk tonnage mineralization”, Mariana MD John Sutcliffe said.

The Las Calandrias Project, which was formerly the Dos Calandrias, has now been extended to include the Calandria Sur and Calandria Norte mineralised rhyolite dome complexes to south-east and the recently discovered El Nido dome complex located to the west. According to Mariana, the 2009 drilling campaign discovered significant disseminated style gold mineralization around the eastern brecciated margin of the Calandria Sur dome. Intersections included 91.5m at 1.6 grams per tonne (gpt) gold and 102m at 1.2gpt.


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Additional Information

Market:AIM
Sector:General Mining - Silver
EPIC:MARL
Latest Price: 24.50p  (4.26% Ascending)
52-week High:32.50p
52-week Low:4.88p
Market Cap:38.83M

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