Aussie explorer Mariana Resources claims ‘significant’ gold and silver results from fieldwork at Santa Cruz in Argentina.

Based in New South Wales and quoted on AIM, Mariana says rock chip assay results from reconnaissance work at Santa Cruz include 0.7 metres at 21.7 grammes of gold and 62 grammes of silver per tonne of ore. The company cites another 0.7 metres at one gramme of gold and 240 grammes of silver per tonne and one metre with gold at a modest 1.85 grammes a tonne but 302 grammes a tonne of silver.

Managing director John Sutcliffe argues these findings ‘highlight the exploration potential of the Mariana land package in the well-mineralised but under-explored Deseado Massif of southern Argentina’. Floated at 20p in 2006, Mariana shares have so far performed poorly and now stand at 4.75p, not long after the company raised £1 million privately at 10p.

They are a long-term speculation.

Mariana Resources	AIM	£1.97m	3.62p	0.00p
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