The initial drilling program at Condor de Oro gold/copper project in Northern Peru is set to commence following successful mobilisation of the drill rig.Mariana Resources, the AIM-listed exploration and development company focused in Peru and southern Argentina, received ministerial approval for initiation of exploration activities, including up to 20 drill holes, on three of Exploraciones Aguila Dorada’s (EAD) twelve concessions at the Condor de Oro project. Mariana is assisting EAD in the drill program under the terms of the option agreement with Condor to provide an initial test of mineralisation within the Pucayacu target and to complete the committed 1,500 metre drill program under the option agreement.
The 2 x 2km Pucayacu target area is potentially a large gold–copper system hosted by quartz-feldspar porphyry. Previous geological mapping, geochemistry and airborne magnetics resulted in strong gold and multi-element anomalies in rocks, soils and stream sediments coinciding with intense hydrothermal alteration and prominent magnetic lows. Outcropping mineralisation consists of limonite, pyrite and copper sulphides as disseminations, stockworks and veinlets.“We are extremely pleased to be able to finally drill test this large altered intrusive related system which displays strong anomalous surface mineralisation with coincident magnetic lows. Results over the next few months will be telling for Mariana as we explore this potential company changer,” says chief executive officer, Glen Parsons.