Live Webinar and Q&A today; Magnetic Survey Reveals Multiple Large Scale Marimaca Style Targets and New IOCG District Potenti...
September 28 2020 - 8:01AM
Marimaca Copper Corp.
(“Marimaca Copper” or the
“Company”) (TSX: MARI)
is pleased to announce it will host a webinar today at 11am EDT
(8am Pacific; 4pm UK), following the release of the results of a
high resolution, drone mounted, magnetic survey (the “Survey”) in
the district surrounding the Company’s flagship Marimaca Copper
Project (“Marimaca” or “the Project”) in Chile.
Questions can be submitted through the webinar
platform, or via email to marimaca@tavistock.co.uk no later than
two hours prior to the scheduled start time.
To access the webinar please click on
the link below:Webinar Link
The Survey has identified several large-scale
magnetic anomalies which the Company believes are prospective for
Marimaca IOCG style deposits.
Highlights
-
Four large scale magnetic anomalies
identified,
believed to be
prospective for Marimaca style
deposits○ All similar size
to or larger than the Marimaca Sulphide
Target (175 million
m3)
- All targets
are adjacent to key regional structures which are
believed to control mineralization at
Marimaca ○ Regional structures clearly shown
in magnetic survey
results○ Naguayán
Fault, which
controls
Marimaca,
clearly defined over 6km
strike length○ Cross cutting faults, an
important mineralization control at Marimaca, noted at all
targets
-
Regional structure identified over
25km○ New ground
staked and
option agreements executed
covering full extent of prospective
structures○ Expanded
magnetic surveys planned to identify additional
targets for follow-up work
-
Three smaller targets on
new fault
structures,
proximal to successful
previous shallow scout
drilling campaign
-
Potential for blind
copper oxide
mineralization beneath shallow
gravel, as well as large
scale sulphide targets
-
Cindy, Llanos
and Mercedes Targets marked by
high-grade,
artisanal, copper
workings○ A key
feature of Marimaca
- Improved
understanding of Marimaca and its structural controls help to
further refine the exploration model to target repetitions of
Marimaca IOCG
style mineralization
- Follow-up
work underway including IP surveys, surface geological work and
drill hole planning○ Targeting drilling the
Marimaca Sulphide Target in early 2021
Sergio Rivera, VP Exploration of
Marimaca Copper commented:“The clarity of the magnetic
anomaly at Marimaca gave us a clear impetus to expand the size
of our survey to identify new targets within our now expanded land
package. The results are exceptional. There are several large-scale
magnetic anomalies adjacent to the important Naguayán Fault to the
north of Marimaca which exhibit similar geometry and spatial
relationship with regional structures. Perhaps most exciting is
that many of the target areas are covered by gravel, suggesting
that any near surface oxide mineralization associated with these
magnetic anomalies is likely to be blind.
“We believe we have the potential to discover a
new copper district in Chile and we are mobilizing geological teams
for follow-up work prior to drilling. At the Marimaca Sulphide
Target, we will complete an Induced Polarization survey to further
define the best locations for drilling. We will also commence
surface geological work to help prioritize the new targets
identified in the magnetic survey for follow-up work and we look
forward to drill testing these as soon as possible.”
Contact InformationFor further
information please visit www.marimaca.com or contact:
Tavistock +44 (0) 207 920
3150Jos Simson/Emily Mossmarimaca@tavistock.co.uk
Qualified PersonsThe technical
information in this news release, including the information that
relates to geology, drilling and mineralization was prepared under
the supervision of, or has been reviewed by Sergio Rivera, Vice
President of Exploration, Marimaca Copper Corp, a geologist with
more than 36 years of experience and a member of the Colegio de
Geólogos de Chile and of the Institute of Mining Engineers of
Chile, and who is the Qualified Person for the purposes of NI
43-101 responsible for the design and execution of the drilling
program.
The Qualified Person for content other than
geological information in this news release is Luis Tondo, Chief
Executive Officer and Director of Marimaca Copper, a mining
engineer with more than 30 years of experience and a Fellow of The
Australasian Institute of Mining and Metallurgy, who is the
Qualified Person for the purposes of NI 43-101.
Both QPs confirm that they have visited the
Marimaca Project on numerous occasions, are responsible for the
information contained in this news release and consent to its
publication.
Forward Looking StatementsThis
news release includes certain “forward-looking statements” under
applicable Canadian securities legislation. These statements relate
to future events or the Company’s future performance, business
prospects or opportunities. Forward-looking statements include, but
are not limited to, the impact of a rebranding of the Company, the
future development and exploration potential of the Marimaca
Project. Actual future results may differ materially. There can be
no assurance that such statements will prove to be accurate, and
actual results and future events could differ materially from those
anticipated in such statements. Forward-looking statements reflect
the beliefs, opinions and projections on the date the statements
are made and are based upon a number of assumptions and estimates
that, while considered reasonable by Marimaca Copper, are
inherently subject to significant business, economic, competitive,
political and social uncertainties and contingencies. Many factors,
both known and unknown, could cause actual results, performance or
achievements to be materially different from the results,
performance or achievements that are or may be expressed or implied
by such forward-looking statements and the parties have made
assumptions and estimates based on or related to many of these
factors. Such factors include, without limitation: risks related to
share price and market conditions, the inherent risks involved in
the mining, exploration and development of mineral properties, the
uncertainties involved in interpreting drilling results and other
geological data, fluctuating metal prices, the possibility of
project delays or cost overruns or unanticipated excessive
operating costs and expenses, uncertainties related to the
necessity of financing, the availability of and costs of financing
needed in the future as well as those factors disclosed in the
Company’s documents filed from time to time with the securities
regulators in the Provinces of British Columbia, Alberta,
Saskatchewan, Manitoba, Ontario, New Brunswick, Nova Scotia, Prince
Edward Island and Newfoundland and Labrador. Accordingly, readers
should not place undue reliance on forward-looking statements.
Marimaca Copper undertakes no obligation to update publicly or
otherwise revise any forward-looking statements contained herein
whether as a result of new information or future events or
otherwise, except as may be required by law.
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