Mariana Resources Ltd (LON:MARL) reported high grade silver and gold results from the first six holes of its 4,000 metres 2011 drilling programme at its Sierra Blanca silver-gold project located in the Deseado Massif of the Santa Cruz Province, southern Argentina.
It has completed 2,200 metres of drilling in 15 holes, and assays for first the six holes totalling 650 metres included 4.2 metres at 420 grammes per tonne silver and 1.2 g/t gold from 74.6 metres depth in one hole at the Chala Splay target in the eastern Veta Chala target area.
It also found wide zones of mineralisation at the Achen vein system, formerly Chala West, in the western sector of the Veta Chala target area.
Mariana is expanding the drill campaign to 5,000 million to test the full extent of silver and gold mineralisation of Veta Chala.
Chairman John Horsburgh said: "These initial results from what is potentially a robust vein system at Achen with both high grade and broader stockwork mineralisation are excellent and substantially upgrade the economic potential of the Veta Chala target area.
"Additionally, bonanza grade silver mineralisation of 4.2m @ 420 g/t Ag was intersected at the Chala Splay prospect highlighting it as another prime target for follow up. Drilling will now focus on depth and strike extensions of an essentially concealed vein system, extending for at least 450m and open to the west under gravel cover plus testing of other targets at our Sierra Blanca silver-gold project."