ARGENTINA DRILL RESULTS FROM 134 HOLES DUE IN JAN.A MAJOR GOLD PROSPECT IN ARGENTINA.FULLY FUNDED.AND PROSPECTS IN CHILE AND ECQUADOR.

Apologies. I was on the wrong thread. I thought this was HOC.

I blame my age and mental disturbance.

Mariana Resources reports positive results from Argentina and Chile projects
by Andre Lamberti

Mariana Resources Ltd updated the market with further promising results from its Pampa de Tongoril and Santa Cruz properties in Santa Cruz province, Argentina, and from its Buenaventura project in Chile.

At Pampa de Tongoril, Mariana discovered new high grade gold targets in a zone located 600 metres to the north of the previous discovery consisting of multiple suboutcroping vein breccias striking NE for more than 400 metres.

Initial rock chip sampling returned gold and silver values ranging from 0.5 to 18.9 grams per ton of gold and 6 to 56 g/t of silver and strong arsenic, up to 2,120 partes per million mercury, 13.5 ppm and antimony, 198 ppm.

Initial results from exploratory drilling at the Sierra Blanca silver-gold project also showed promising finds. Drilling completed in October2008, comprising 37 holes for a total of 3,005 metres.

The initial drilling results indicate the presence of an up to 21 metres core length silver and gold mineralized structure which includes a zone of bonanza grade silver and high grade gold.

Significant results in the first batch of 12 holes - of 22 completed at Veta Chala - included 21.0 metres at 189 grams per ton of silver and 0.7 g/t of gold from a downhole depth of 33 metres. Within this find was a 9 metre interval of 426 g/t of silver and 0.9 g/t of gold from a downhole depth of 44 metres.
Mariana also struck 5 metres at 173 g/t of silver and 0.9 g/t of gold from a depth of 70 metres including 0.75 metres at 713 g/t of silver, 3.7 g/t of gold and 1.6 percent of zinc; and 12 metres at 63 g/t of silver and 0.2 g/t of gold from a depth of 25 metres, including 1 metre at 551 g/t of silver and 0.2 g/t of gold.

Down-dip extensions of surface silver-gold mineralization at Chala were tested by 16 reverse circulation drill holes, totalling approximately 1,130 metres and 6 diamond drill holes for 550 metres.

Early results are encouraging in that four holes at Chala Splay and Chala Central intersected significant multi-stage quartz veins and breccias. However, a number of targets at Chala Splay remain untested because of poor sample returns caused by severe drilling difficulties and possible structural off-sets in some instances. The best result to date was at Chala Central, with hole SBR27 intersecting 21 metres at 189 g/t Ag, 0.7 g/t Au from 33 metres.

Sierra Blanca and the nearby Caadon Largo concessions are held in joint venture with IAMGOLD Corp. Mariana can earn 70 percent interest through investing US$2 million by October 2009.

Mariana also announced that preliminary geophysical images from its joint venture partner Minotaur Exploration Ltd outline a 3-by-2 kilometre area of immediate interest north of the Cerro Brecha Iron Oxide-Copper-Gold (IOCG) prospect at the Buenaventura project in Northern Chile.

A significant gravity ridge has been defined extending northwards from the Cerro Brecha prospect for approximately 3 kilometres. 3D-modelling is in progress to define drill targets, Mariana said.

Previous drilling in 2002 at the southern end of the gravity ridge intersected IOCG type copper mineralisation with anomalous gold.

The 44 square kilometres Buenaventura project is within the world-class Chilean IOCG Belt, mid-way between the Candelaria and Manto Verde copper mines operated by Freeport-McMoRan and Anglo American respectively.

Buenaventura is 130 km north of Mariana's 100 percent Perro Chico IOCG project at which infill gravity surveying of some prominent gravity anomalies is in progress.


Mariana and Minotaur are exploring Buenaventura with titleholders Sociedad Minera Contractual Buenaventura and can earn 51 percent through spending US$3 million over 3 years.

Hochschild is the biggest shareholder in Mariana. What would enduce them to increase their stake, I wonder?

Significant shareholders also own almost 50% of the equity!

Significant Shareholders
The holders of more than 3% of the fully paid shares on 30 June 2009 are listed below, with those of directors:

Name No. of shares held % held
Hochschild Mining Holdings Limited 11,002,948 10.53
Wills & Co 6,141,667 5.88
Ray Angus* 5,354,300 5.12
Chase Nominees Limited 4,657,143 4.46
Goldman Sachs Securities (Nominees) Limited 4,600,000 4.40
Bank Julius Baer & Co Ag 3,700,000 3.54
Chase Nominees Limited CMBL account 3,326,191 3.18
Credit Suisse Client Nominees (UK) Limited 3,300,000 3.16
John Sutcliffe* 3,341,667 3.20
John Horsburgh* 3,187,002 3.05
Total 48,610,918 46.52

Taken from another BB:

" if Dick Sillitoe says Dos Calandrias is worth pursuing, then it's worth pursuing! He is THE authority on volcanogenics, particularly epithermal and porphyry deposits. "

Posted today and taken from another BB:

Mariana have until xmas to decide whether they want the extra 750k off Hochschild, which i personnaly think they will take. That will increase Hochschilds stake to approx15%. They can then purchase in the market up to a maximum of 19.9% under the current agreement. They also get first dabs on any sale or JV.
I wonder though, if mariana had only one decent prospect (and they look to have a number), wouldn't it be more cost effective to just buy the company?

Proactive Investors One2One Forums
The directors of Nyota Minerals Limited (AIM, ASX: NYO), Strategic Natural Resources (AIM: SNRP), Mariana Resources (AIM: MARL) and Bravo Venture Group (TSX-V: BVG) will be presenting:

Thursday the 12th November 2009
Chesterfield Mayfair Hotel, 35 Charles Street, Mayfair, W1J 5EB

The presentations will start at 6:00pm and finish at approx 8:00pm.

This event is suitable for the following:Sophisticated & private investors, private client brokers, fund managers, financial institutions, hedge funds, buy & sell side analysts and journalists.

email action@proactiveinvestors.com

If this one's got 'legs' then expect a further RNS before too long:

"the grades and nature of the orebody indicate bulk tonnage potential. So, given all that, a follow-up 3,000 metre drilling programme has now been planned for early 2010 to define the projects economic potential. Ray Angus puts it even more clearly: Mariana, he says, has now cracked a project that looks as though its got legs. What weve got to do now is drill this thing out as quick as possible."

From another BB:
If the labs turn the Chile results round as quickly as they did the Dos Calandrias ones, which was EXTREMELY fast - ( labs can be notoriously slow) - it should be about late November, if I have done my calculations right from start of drilling - however - we may get some form of "holding" update before then, as we did with DC.
I also think we may get some other news on commencement of drilling elsewhere, or on a new JV or funding agreement with IAMGOLD before end November - ( as hinted at in previous RNS's) - they want the SP as high as possible before HOC take their $750,000 tranche late November so as to minimise dilution.
Just my own views, of course.
Ciao

Mariana Resources Limited
Aim & PLUS: MARL

10.56AM
4th. November 2009

Dos Calandrias Project Report, Santa Cruz Province, Southern
Argentina

A final report on an appraisal of the Dos Calandrias project by
Consultant Dr R Sillitoe, confirming his preliminary findings for the
Calandria Sur and Calandria Norte prospects, is now available on the
Company's website.




http://www.marianaresources.com/projects_argentina_dos_calandrias.php


On 28 October 2009 the Company reported long drill intercepts of gold
and silver mineralization, including;

CSD 15 91.5m @ 1.6 g/t Au + 17 g/t Ag,
CSD 16 71m @ 1.1 g/t Au + 23 g/t Ag,
CSD 09 54.8m @ 0.8 g/t Au + 10 g/t Ag, and
CSD 13 102m @ 1.2 g/t Au + 17 g/t Ag.

In summary, Calandria Sur is shallow level epithermal gold-silver
mineralization of low sulphidation type hosted in a well developed
hydrothermally brecciated rhyolite dome. Gold-silver mineralization
has an annular, steeply inward dipping form, controlled by the
breccia host and its country rocks. Highest gold grades to date abut
the silicified breccia and are overprinted by pyrite and marcasite
stockworking. The long intercepts as reported reflect true bulk
tonnage mineralization hosted in a dome-related hydrothermal breccia,
the first of its type to be discovered in the Deseado Massif
gold-silver province in Santa Cruz.

The recent first pass drilling has tested approximately 400m of the
1500m of the dome perimeter. Results to date suggest potential for
concealed mineralization elsewhere around the perimeter. Highest
grade gold-silver mineralization remains open below approximately
100m.

The appraisal by Dr Sillitoe has provided a geological model on which
the next phase of exploration drilling at Calandria Sur will be
based. Early plans for the next exploration stage include detailed
lag geochemical sampling around the dome perimeter, an Induced
Polarisation geophysical survey and a minimum 2,500m of follow up
drilling. Subsequent resource definition will require additional
drilling.

ENDS

They also have a big stake on Lake Shore Gold in Canada.
I`ve had a great run with these and they have yet to pour any Gold.
Could get very interesting when they do.

This was taken from the Finncap report that commented on the relationship with Hochschild and the latters reasons for investing in Mariana>

Mariana Resources 18 November 2008
Small but perfectly formed initiation of coverage

"The Hochschild deal
Hochschild investment adds credibility to blue sky exploration story
With exploration companies increasingly being starved of capital by the market,
we find it encouraging that one of the world's largest silver miners thinks
sufficiently highly of Mariana Resources' 130,000 hectare exploration package in the Deseado Massif to make a US$1.5 million investment in the company over the next 12 months.
That Hochschild, an informed investor, is prepared to invest this early-stage
suggests to us that the prospectivity of the ground is high. We should stress that
the investment is in Mariana Resources the company as opposed to a specific
piece of exploration ground.
By agreeing to invest at the company level without stipulating where the money
should be spent, Hochschild is effectively outsourcing the responsibility for
exploration to the Mariana Resources team. We see this as an important vote of
confidence.
The terms of the binding agreement
The strategic alliance will see Hochschild subscribe for new shares in Mariana
Resources in two separate tranches of US$750,000. The first tranche will occur,
at Mariana Resources' choosing, in the next 60 days at a 50% premium over the
volume weighted average price of the shares over the previous 15 days. This will
give Hochschild an initial 12-14% per cent stake.
The second tranche will occur, again at Mariana Resources choosing, at any time
within one year of the closing date of the first tranche at the same pricing terms
but without the 50% premium. Hochschild may also increase its stake in Mariana
Resources up to 19.9 per cent by purchasing shares in the market.
In return, Mariana Resources will, for the next 2 years, approach Hochschild first
if it needs a joint venture partner or wishes to sell any of the wholly owned
130,000 hectare land package. But we stress that the agreement excludes the
current Sierra Blanca joint venture with Iamgold where a 3,000 metre drilling
programme was recently completed."

Mariana resources to raise 2.6m at 13p.This is above yesterdays closing price and shows that investors are very keen to be involved in Marianas exciting discovery.

This one just gets better and better!

10.11.09

FinnCap-"Value this dicovery @ 19p per share post fund raising."

Tuesday, November 10, 2009

Mariana Resources raises 2.6 million at premium thanks to strong interest in new gold-silver discovery

South American based explorer Mariana Resources (AIM: MARL) has undertaken a share placement at 13 pence per share to raise a total 2.6 million to fund the exploration programme at its Dos Calandrias gold-silver project in Argentina.


The placement price represents an impressive 6% premium to the companys yesterdays closing price of 12.25 pence per share.


Marianas broker FinnCap and co-broker GMP Europe have registered demand to place 12 million shares. The companys nomad RFC has also received indicative commitments to place a further US$1 million of shares; Mariana also has pledges through non-brokered private placement to issue an additional five million shares to existing and new shareholders.


The proceeds of 2.6 million will be used to fund follow-up exploration at the Dos Calandrias gold-silver project in the Deseado Massif region of Argentina, where a significant gold-silver discovery was confirmed late last month.


The level of interest in the new discovery at Calandrias Sur has been overwhelming. An accelerated follow-up field program has been designed to deliver a better understanding of the project's potential and in return unlock further value for shareholders, said Managing Director of Mariana Resources John Sutcliffe.


Best intersections form the Calandria Sur included 91.5m (metres) at 1.6 g/t Au (gold) and 17 g/t Ag (silver) from 3.5m, including 21m at 4.5 g/t Au and 39 g/t Ag from 40m.


Shares in Mariana rallied 16% to 14.22 pence on the news this morning.

FinnCap was encouraged by the news, saying that following the fundraising that secured funds for further exploration at the Calandria Sur, the value of the discovery at Los Calandrias alone was 19 pence, compared to the companys current share price of just over 14 pence. This valuation did not include what the broker said was a considerable potential upside from further drilling next year.


The initial valuation of Calandria South was based on Patagonia Golds more advanced Cap-Oeste deposit 200 km (kilometres) to the west. FinnCap said this project provided a good example of the potential upside so South Calandria at its much earlier stage of development. The valuation was based on an assumed initial resource of 250,000 oz (ounces) over the strike length drilled to date valued at US$150 per oz.

Mentioned in The Times today as the Deal of the day.

http://business.timesonline.co.uk/tol/business/markets/article6911692.ece
"Deal of the day.
Shares in Mariana Resources rose 1p to 14p after the AIM-listed goldminer said that it had raised at least 2.6 million in a share placing to fund the exploration of its Calandria South project in Argentina. The group gave an encouraging initial assessment of the asset last month, indicating that there was plenty of gold close to the surface."

More exciting news out from Mariana! a joint venture with Horschild.

More exciting news out from Mariana! a joint venture with Horschild.

Mariana Resources Ltd ('Mariana Resources' or 'the Company')

Joint Venture Agreement with Hochschild - Argentina

12 November 2009

Mariana Resources Ltd, the AIM quoted exploration and development
company focussed in Argentina and Chile, has signed a joint venture
agreement with Hochschild Mining Holdings ('Hochschild') to explore
and develop three adjoining prospective gold-silver tenements
totalling 13,455 hectares, located in the Santa Cruz area in the
western sector of the Deseado Massif in southern Argentina. These
tenements consist of the Company's Amigos I and Amigos II licence
areas and Hochschild's San Augustin property which are located circa
110km south of Hochschild's producing gold-silver San Jose Mine.

Highlights

* Joint venture agreement signed with Hochschild to explore
adjoining properties in southern Argentina (Mariana - 49% and
Hochschild - 51%)
* Licences under review are under-explored, large intact high-level
epithermal vein system, prospective for gold and silver
* Mariana and Hochschild to spend US$2 million over three years on
a 40/60 basis
* Hochschild can increase its interest in the joint venture to 70%
through committing 60% of US$3 million in the subsequent two
years and taking the project to a Pre-Feasibility stage
* Exploration drilling anticipated to commence in the second
quarter of 2010


Managing Director John Sutcliffe said, "With Hochschild as a major
shareholder in Mariana, we are delighted to have further strengthened
our relationship and look forward to working with such an experienced
producer on this exciting project. We believe that the project
offers considerable opportunities, providing both companies access to
a large consolidated target area where gold and silver mineralisation
may extend across common property boundaries.

"Additionally, following our success at the Dos Calandrias project,
having recently made a significant gold-silver discovery, we believe
this deal further underpins our position as a significant explorer in
the emerging Santa Cruz gold district and our ability to generate
projects with high potential."