This company will be floated on friday, could be a good play, but struggling to get enough info on them, any one help?

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Company Statement
Mariana Resources Ltd is a gold and copper exploration company. The company has an exciting portfolio of gold and copper-gold projects in Ecuador, Argentina and Chile. The Mariana portfolio has a particular emphasis on epithermal gold targets traditionally associated with high grade, high value, small footprint and low cost mining. Several key properties are at, or close to, the drill-ready stage while others have the scope to be quickly advanced to the drilling stage.

Mariana is led by an experienced team of minefinders and company builders with over 150 years of combined experience. The track record is one of resource discovery, through to successful mine development. The Company's experience and networks in South America are extensive. Moreover, Mariana's management team have a proven record in successful junior company management.

Mariana's portfolio offers investors an opportunity to participate in an exploration programme with a high component of drill testing, both at an early stage and as targets are developed. The Directors believe shareholders of Mariana will be rewarded as the Company grows through successful evaluation of these targets and on to resource definition.

Current Operations
The Mariana team is discovery-driven and the current portfolio strongly reflects this fact. Considerable project generation, prospect evaluation and exploration work has been performed by Mariana leading to compilation of the portfolio of gold and copper-gold properties in Ecuador and Argentina, as well as a proposed joint venture on projects in Chile. These projects are mostly low-sulphidation epithermal gold prospects selected by geologist and Managing Director John Sutcliffe and his team, and include a joint venture with IAMGOLD Corporation (Ecuador, Argentina) ("IAMGOLD"). The proposed joint venture in Chile is with Anglo American (Chile) Ltd ("ANGLO"). One of the ANGLO joint venture properties has significant porphyry copper potential. Preliminary exploration results on several projects have already been encouraging.

Mariana's projects are briefly summarised as follows:

Norcay (S Ecuador) - low-sulphidation epithermal gold project with several previous drill intersections which are open at depth and new untested target areas identified outside the drilled area elsewhere on the property.

Guanazan (S Ecuador) - low-sulphidation epithermal gold mineralisation with highly prospective drill-ready targets and scope to define others.

La Victoria (S Ecuador) - a 5km-long ridge of skarn limestone which is the source of abundant coarse gold in adjacent drainages and requiring drill target definition. A highly rated district-scale untested drill target.

Loma Alta (S Ecuador) - untested stratiform gold mineralisation hosted by volcaniclastics, high grade potential demonstrated from Mariana channel sampling and small scale mining, untested by drilling.

Sierra Blanca (Argentina) - untested low-sulphidation epithermal gold project with a number of high priority drill-ready targets and scope for more along 25km of prospective vein trends.

Loma de la Virgen (S Ecuador) - untested low-sulphidation epithermal gold project that warrants drilling following geological mapping and geochemistry to define drill targets.

Exploradora (Chile) - porphyry copper potential in covered areas adjacent to a known copper porphyry deposit (Codelco) requiring target definition with additional peripheral silver-gold vein potential.

Other under explored gold projects in S Ecuador and Argentina which the Directors believe have good potential, including a potential joint venture in relation to Exploradora (Chile) - porphyry copper potential in covered areas adjacent to a known copper porphyry deposit (Codelco) requiring target definition with additional peripheral silver-gold vein potential.


Geographical Spread
ECUADOR
Ecuador is the smallest Andean country (13.4m population) with an oil and agriculture based economy. Attractions for Mariana in selecting Ecuador as a main area of operations include its high prospectivity, history of Inca and Colonial gold mining, emerging modern mining industry, and the presence of several multi-million ounce gold deposits (Quimsacocha - high sulphidation epithermal gold, Gaby - gold porphyry, Nambija - gold skarn and Portovelo - low-sulphidation epithermal gold). Moreover, Ecuador has a mining friendly Government with a new mining law enacted in 2001.

Ecuador has a number of projects at feasibility or at resource drilling stage: Rio Blanco (IMC) with a resource of 2.1Mt @ 8.9 g/t Au, 68 g/t Ag, Quimsacocha (IAMGOLD), a major discovery with a 2.8Moz gold resource of 22.5Mt @ 3.9g/t Au and Mirador (Corriente Resources Inc), a copper-gold porphyry with a resource of 320Mt @ 0.62% Cu 0.2g/t Au.

ARGENTINA
Mariana has gained access to some drill-ready low-sulphidation gold prospects in the well-mineralised Deseado Massif, Santa Cruz Province in Patagonia by way of a joint venture with IAMGOLD Argentina. The joint venture covers the Sierra Blanca and Cadon Largo concessions. The prospects which all have good access, were discovered by IAMGOLD using ASTER satellite imagery and have not been drilled.
CHILE
Chile forms an important part of Mariana's strategic plan. The country consistently ranks as a top global exploration/mining destination and hosts some of the world's most important copper and copper-gold mines. Mariana's has negotiated the terms of a farmin joint venture with Empresa Minera de Mantos Blancos ("EMMB"), part of the American group of companies and is currently proceeding to document the farmin joint venture in a form that can be enforced in Chile. EMMB is a major player in Chile with major copper mines at Collahuasi, Disputada, El Soldado, Los Bronces, Mantos Blancos and Mantoverde. Moreover, the discovery of the 4Moz El Pen sulphidation epithermal gold deposit by Meridian in the mid-90s highlights the great potential of the Palaeocene volcanic belt of Chile.


Board of Directors and Key Management
John Horsburgh - Executive Director, Chairman
John Sutcliffe - Executive Director, Managing Director
Grahame Hamilton - Executive Director
Roger Thomson - Non-Executive Director


Company Address
Registered Office in Guernsey
Granite House
La Grande Rue
St Martin
Guernsey
GY1 3RS

Tel: + 44 1481 234101
In Australia
Mariana Exploration Ltd
Level 4, 118 Christie Street
St Leonards NSW 2065
Australia

Tel: +61 2 9437 4588

In Ecuador and Principal Place of Business
Compania Minera Mariana SA
Avenida 12 de Octubre
Abraham Lincoln
Torre 1492 - Piso 4 Oficina
Quito Ecuador

Tel: + 5932 298 6464


Email: john@marianaresources.com
Website: www.marianaresources.com

Nominated Brokers Nominated Adviser
Haywood Securities (UK) Ltd RFC Corporate Finance Limited
Major Shareholders
Directors
RMB Australia Holdings
Hans Rudi Moser
Alexander Mining
Apex Silver Mines
Australian Investors Pty
Capital

Listing Symbol (Click in Symbol to get Live Share Price)
AIM (Alternative Investment Market)
Listing in May

Year End Annual General Meeting
30 June
Most Recent Statement
03/03/06 - Update "Ready to move forward in South America"
10/01/06 - Shareholder Update January 2006
Visit
www.marianaresources.com for further information about this story and other recent press releases.

here's a little info i found about mariana.......jonwig

Printer Friendly Version
Feature Story Date: April 07, 2006

Mariana Resources Combines A Team Of Successful Mine Finders With Good Advanced Projects.

Another company on its way to an AIM listing is Mariana Resources and it will be a first for the London office of Haywood Securities. No, not quite a first. The firm acted for Moto Goldmines which listed last week, but that was a dual listing from the ASX, As Haywood is a Canadian firm it will not be able to do much on the retail side, but apparently Jeremy Wrathall has hooked up with WH Ireland on that side of things. That is as it should be as Mariana looks a quality exploration company operating in the Andean Cordillera of Ecuador, Chile and Patagonia. From the outset chairman John Horsburgh and managing director John Sutcliffe have emphasised that the companys skill and experience is in finding mines and they are then happy to trade them on to bigger producers.

As a result of this policy and the quality of its projects, Mariana has IAMgold Corporation and Anglo Group Chile as joint venture partners on some of them. It also has a number of interesting shareholders who have come in at the seed corn stage including Alexander Mining, an AIM listed company on which we commented last week, Apex Silver, Rand Merchant Bank, a well known Swiss fund manager called Hans-Rudi Moser and Geoff Stewart a highly successful mining financier. They are following the people rather than the projects, as they are still at relatively early stages, and the Mariana team boasts over 150 years of combined success in several continents, having been together at the Royal School of mines some twenty years ago.

There are two joint ventures with IAMgold - in Ecuador and Argentina. In Ecuador the joint venture covers two projects, Norcay and Guanazan, both of which are low sulphidation epithermal gold plays in which Mariana is earning a 70 per cent interest for US$2.5 million.. Guanazan is the more advanced as it has some highly prospective drill ready targets as well as offering scope to find others. IAMgold has already drilled some holes into the multiple vein system which assayed up to 9.87 g/t gold and channel samples returned 7.3 g/t. Drilling should start in the third quarter as drills are scarce in the region at the moment. IAMgold reported an intersection of 37 metres grading 2.5 g/t and it took channel samples which assayed up to 29 g/t. At the moment exploration work will focus on following up on this drilling and identifying a new target.

In Argentina the JV with IAMgold covers two highly prospective and untested epithermal gold/silver deposits in the sparsely populated Santa Cruz province. They were discovered by IAMgold using ASTER satellite imagery and very little work has been done on them. Again Mariana is earning a 70 per cent interest by spending US$2.5 million on exploration over 5 years. The core project is Sierra Blanca where there are 25 kms of quartz veins up to 5 metres in width. Vein mapping and some sampling work was carried out in 2005 and drill targets were defined for testing later this year. The project is 50 kms northwest of Anglo Golds Vanguardia gold mine with its 6 million ounce resource.

Across in Chile Mariana is working on a jv with Anglo Group Chile, part of the mighty Anglo American empire. It covers four project and is slightly more expensive than those with IAMgold as Mariana has to spend US$3 million over 5 years to earn its 70 per cent interest. As might be expected in Chile the target is copper and Wardell Armstrong International reckons there is plenty of potential for a major concealed copper porphyry. Drill targets will be defined in the next few months and drilling will follow as soon as possible. As a bonus there are some peripheral silver veins in the Exploradora area where the jv is situated.

The company has three other projects - La Victoria , Loma Alta and Loma de la Virgen - in Ecuador which are wholly owned. La Victoria is a skarn ridge with potential for a large deposit as there are skarn trend extensions. It has plenty of alluvial gold around it which is a good sign and this year exploration will focus on mapping and sampling. Loma Alta contains old mine workings in stratiform high grade gold with channel assays up to 42 g/t. Targets are virtually ready for drilling , but more mapping and sampling will be carried out first. Loma de la Virgen is an untested low sulphidation epithermal target where some bonanza gold assays have been recorded. Further geological mapping is required before drilling can start.

Not a bad portfolio for starters as five of these projects are virtually at drill-ready status. The other properties include early stage target with evidence of widespread gold mineralization which could have plenty of potential. Mariana should strike a chord with investors as gold, silver and copper are moving ever higher in price.


Companies featured in this Story
Ariana Resources Plc (AIM-AAU)
Alexander Mining Plc (AIM-AXM)





petralva - 7 Apr'06 - 12:37 - 84 of 147 edit


these are the principle holders of mariana resources interesting reading..almost 50% held by them..........


John Horsburgh 8.55% Grahame Hamilton 8.19% RMB Australia Holdings Ltd 7.27% Hans Rudi Moser 7.05% Alexander Mining Limited 6.77% Apex Silver Mines Limited 9.81% John Sutcliffe 4.65% After Admission- To be advised

8.9 g/t Au is this a good concentration of gold...... do not know much about mining

8.9 is grams per tonne..........depending on the strike length and depth.

Why is the floatation date always changing?

Tonker How do you know - Do you yet know the EPIC ??

buy pre 92 2p pieces theyre already worth 3p ;)

Oakapples142, There is no EPIC yet, the release date can be fould on this link
http://www.allipo.com/companies/201/ipo-mariana-resources-limited

Pommy, what does your message mean? have you bought some already, how?

what he is saying is that the old 2p up to 1992 was 97% copper,so if you sold a ton (which i might add is illegal) then you stand to make 50% profit as scrap value.

what he is saying is that the old 2p up to 1992 was 97% copper,so if you sold a ton (which i might add is illegal) then you stand to make 50% profit as scrap value.

Ha Ha I get it.. good stuff. I bought a 14carrot 92g chain two years ago when I was on holiday in Turkeyago for about £750... I can scrap it for around £920 now....