Marimaca Announces Infill Drilling Results Further Confirming Consistency of Mineralization at the MOD
September 07 2022 - 7:00AM
Marimaca Copper Corp. (“Marimaca Copper” or the
“Company”) (TSX: MARI) is pleased to
announce further results from the 2022 infill and extensional
drilling campaign at the Marimaca Oxide Deposit (the “MOD”).
Results reflect a total of 6,130m across 31 drill holes.
The drilling intersected mineralization in-line
with the current geological interpretation of the MOD. Drilling in
the south-east zone of the MOD, on trend with the Sierra and
Sorpresa satellite targets, continues to demonstrate extensions to
green-oxide rich mineralization beyond the previously interpreted
limits of the 2019 Mineral Resource Estimate (“MRE”). Copper oxide
mineralization also remains open to the east of the MOD. Hole
MAR-158 was drilled on a ~150m step-out from the eastern pit limits
and intersected continuations of shallow green oxide
mineralization. Drilling on the western boundary of the MOD
confirmed limits of copper oxide mineralization with lower-grade
intersections of thinning mineralization. In the central MOD, hole
MAR-65Ext intersected extensions of higher-grade mineralization
into the MAMIX zone.
Highlights
- Infill drilling intersected
extensions to known green-oxide mineralization in the south-east
zone of the MOD, consistent with previous 2022 results (see release
dated March 28, 2022)
- MAMIX drilling intersected
extensions to higher grade oxide and mixed mineralization at depth,
improving confidence in the higher-grade core of the MOD and
MAMIX
- Oxide intersections from
step-out drilling on the north-eastern boundary of the MOD
(MAR-158) demonstrates a material broadening of the MOD’s oxide
halo to the east which is consistent with previous step-out
drilling (MAR-126, see release dated May 5, 2021)
- Notable intersections
include
- MAR-65Ext intersected 332m
at 0.44% CuT from 36m, including a higher-grade extension of 78m at
0.90% CuT from 218m
- LAR-96 intersected 98m at
0.41% CuT from surface including 22m at 1.14% CuT from
surface
- MAR-172 intersected 200m at
0.25% CuT from 12m including 66m at 0.51% CuT from
38m
- MAR-171 intersected 164m at
0.37% CuT from 2m including 96m at 0.53% CuT from 70m
- MAR-158 intersected 72m at
0.36% CuT from 120m
- LAR-03 intersected 346m at
0.32% CuT from 2m including 40m at 0.34% CuT from
272m
- LAR-25 intersected 340m at
0.33% CuT from 12m
- The 2022 drilling program
is now finalized with 38,570m of RC and 3,000m of diamond drilling
complete
- 21,992m of remaining
drilling to be released pending final assay results
Sergio Rivera, VP Exploration of
Marimaca Copper, commented:
“We have now completed the 2022 Marimaca
drilling campaign with our work now focused on the upcoming mineral
resource update planned for late September or early October.
“Overall, the 2022 program was a success. All
our objectives going into the program were met and results continue
to be in-line with our geological interpretation at the MOD, with
the consistency of the Marimaca mineralization demonstrated again
in this latest batch of results.”
Overview of Drilling Campaign
Objectives
Marimaca’s 2022 RC drilling campaign consists of
over 38,570m of drilling between the MOD infill and the MAMIX zone,
the depth extension of the MOD.
Geological interpretation and resource modelling
is currently underway ahead of the planned 2022 Mineral Resource
Update (“MRE”) expected in late Q3. The 2022 MRE will capture
drilling data completed up to June 30th, 2022, with the balance of
the infill drilling (targeting conversion to Measured and Indicated
Resource categories) to be captured in a subsequent MRE planned for
early 2023.
Figure 1: Plan View of Infill Drilling
Results, Pending Holes and MOD PEA Pit
Shell:https://www.globenewswire.com/NewsRoom/AttachmentNg/5a93e53e-c466-4d72-aabd-fcf039cca3cb
Table 1. Summary of Infill Drill
Results
Hole |
TD (m) |
|
From (m) |
To (m) |
m |
%CuT |
MAR-158 |
200 |
|
8 |
192 |
184 |
0.23 |
including |
8 |
68 |
60 |
0.22 |
including |
8 |
28 |
20 |
0.23 |
and |
46 |
64 |
18 |
0.41 |
|
120 |
192 |
72 |
0.36 |
including |
120 |
146 |
26 |
0.44 |
and |
174 |
192 |
18 |
0.71 |
MAR-159 |
200 |
|
72 |
84 |
12 |
0.21 |
|
150 |
172 |
22 |
0.25 |
MAR-160 |
160 |
|
24 |
38 |
14 |
0.14 |
|
92 |
104 |
12 |
0.52 |
MAR-161 |
210 |
|
112 |
164 |
52 |
0.27 |
MAR-162 |
180 |
|
2 |
12 |
10 |
0.29 |
|
122 |
134 |
12 |
0.25 |
MAR-163 |
180 |
|
2 |
8 |
6 |
0.22 |
|
88 |
150 |
62 |
0.14 |
MAR-164 |
200 |
|
2 |
8 |
6 |
0.32 |
|
126 |
192 |
66 |
0.24 |
including |
152 |
192 |
40 |
0.31 |
MAR-165 |
200 |
|
118 |
148 |
30 |
0.23 |
including |
124 |
138 |
14 |
0.34 |
MAR-166 |
300 |
|
12 |
300 |
288 |
0.19 |
including |
12 |
30 |
18 |
0.23 |
and |
56 |
88 |
32 |
0.32 |
|
98 |
138 |
40 |
0.21 |
|
164 |
172 |
8 |
0.36 |
|
230 |
300 |
70 |
0.29 |
including |
230 |
258 |
28 |
0.49 |
and |
282 |
300 |
18 |
0.27 |
MAR-167 |
300 |
|
98 |
154 |
56 |
0.15 |
including |
98 |
122 |
24 |
0.20 |
|
188 |
292 |
104 |
0.20 |
including |
188 |
252 |
64 |
0.20 |
|
270 |
292 |
22 |
0.33 |
MAR-168 |
200 |
|
14 |
150 |
136 |
0.20 |
including |
14 |
104 |
90 |
0.16 |
and |
124 |
150 |
26 |
0.46 |
MAR-169 |
250 |
|
96 |
200 |
104 |
0.27 |
including |
12 |
52 |
40 |
0.20 |
and |
96 |
140 |
44 |
0.23 |
|
150 |
200 |
50 |
0.35 |
including |
150 |
176 |
26 |
0.21 |
and |
186 |
200 |
14 |
0.81 |
|
222 |
242 |
20 |
0.17 |
MAR-170 |
250 |
|
14 |
102 |
88 |
0.28 |
including |
14 |
42 |
28 |
0.50 |
and |
80 |
102 |
22 |
0.42 |
|
206 |
214 |
8 |
0.48 |
MAR-171 |
200 |
|
2 |
166 |
164 |
0.37 |
including |
2 |
20 |
18 |
0.21 |
and |
38 |
54 |
16 |
0.32 |
|
70 |
166 |
96 |
0.53 |
including |
70 |
118 |
48 |
0.71 |
and |
140 |
166 |
26 |
0.62 |
MAR-172 |
220 |
|
12 |
212 |
200 |
0.25 |
including |
12 |
28 |
16 |
0.16 |
|
38 |
104 |
66 |
0.51 |
including |
38 |
60 |
22 |
0.51 |
and |
72 |
104 |
32 |
0.67 |
|
134 |
170 |
36 |
0.22 |
LAR-88 |
200 |
|
62 |
74 |
12 |
0.12 |
|
146 |
156 |
10 |
0.29 |
LAR-89 |
170 |
|
12 |
24 |
12 |
0.41 |
|
144 |
168 |
24 |
0.18 |
LAR-90 |
200 |
|
18 |
34 |
16 |
0.18 |
|
114 |
130 |
16 |
0.16 |
LAR-91 |
150 |
|
4 |
36 |
32 |
0.21 |
|
116 |
134 |
18 |
0.15 |
LAR-93 |
260 |
|
58 |
82 |
24 |
0.21 |
LAR-94 |
150 |
|
34 |
148 |
114 |
0.17 |
including |
34 |
76 |
42 |
0.16 |
|
110 |
148 |
38 |
0.28 |
including |
126 |
148 |
22 |
0.41 |
LAR-95 |
300 |
|
28 |
190 |
162 |
0.20 |
including |
40 |
80 |
40 |
0.41 |
and |
160 |
182 |
22 |
0.27 |
|
228 |
252 |
24 |
0.18 |
LAR-96 |
270 |
|
0 |
98 |
98 |
0.41 |
including |
0 |
22 |
22 |
1.14 |
and |
70 |
98 |
28 |
0.38 |
|
156 |
164 |
8 |
0.53 |
|
236 |
266 |
30 |
0.17 |
including |
236 |
248 |
12 |
0.27 |
LAR-97 |
170 |
|
4 |
18 |
14 |
0.26 |
ATR-113 |
160 |
|
24 |
152 |
128 |
0.22 |
including |
24 |
38 |
14 |
0.31 |
and |
50 |
92 |
42 |
0.33 |
|
136 |
152 |
16 |
0.33 |
Table 2. Summary of MAMIX Drill
Results
Hole |
TD (m) |
|
From (m) |
To (m) |
m |
%CuT |
LAR-03ext |
350 |
Historic + New |
2 |
348 |
346 |
0.32 |
|
262 |
348 |
86 |
0.25 |
|
272 |
312 |
40 |
0.34 |
LAR-15ext |
450 |
Historic + New |
12 |
428 |
416 |
0.15 |
|
302 |
320 |
18 |
0.30 |
|
416 |
428 |
12 |
0.13 |
LAR-25ext |
400 |
Historic + New |
12 |
352 |
340 |
0.33 |
|
256 |
352 |
96 |
0.24 |
MAR-65ext |
400 |
Historic + New |
36 |
368 |
332 |
0.44 |
|
218 |
368 |
150 |
0.61 |
including |
218 |
296 |
78 |
0.90 |
ATR-89ext |
400 |
Historic + New |
10 |
374 |
364 |
0.21 |
|
318 |
374 |
56 |
0.24 |
including |
340 |
374 |
34 |
0.34 |
Table 3. Infill collars and
survey
Hole |
Easting |
Northing |
Elevation |
Azimuth |
Inclination |
Depth |
MAR-158 |
375363.6 |
7435943.5 |
1127.3 |
220 |
-60 |
200 |
MAR-159 |
375219.2 |
7435932.4 |
1119.5 |
220 |
-60 |
200 |
MAR-160 |
375256.0 |
7435905.7 |
1109.6 |
310 |
-60 |
160 |
MAR-161 |
375176.6 |
7435902.6 |
1114.7 |
310 |
-60 |
210 |
MAR-162 |
375235.7 |
7435861.8 |
1093.6 |
310 |
-60 |
180 |
MAR-163 |
375148.1 |
7435868.5 |
1110.4 |
310 |
-60 |
180 |
MAR-164 |
375234.3 |
7435853.9 |
1093.3 |
220 |
-60 |
200 |
MAR-165 |
375146.0 |
7435861.8 |
1110.4 |
220 |
-60 |
150 |
MAR-166 |
375163.7 |
7435000.1 |
1050.8 |
310 |
-60 |
300 |
MAR-167 |
375110.5 |
7435834.2 |
1104.6 |
310 |
-60 |
300 |
MAR-168 |
375224.9 |
7434945.9 |
1036.6 |
310 |
-60 |
200 |
MAR-169 |
375268.1 |
7435159.1 |
1061.5 |
220 |
-60 |
250 |
MAR-170 |
374974.0 |
7435243.1 |
1051.4 |
220 |
-60 |
250 |
MAR-171 |
374991.9 |
7435297.5 |
1060.7 |
220 |
-60 |
200 |
MAR-172 |
375158.0 |
7435199.7 |
1080.0 |
220 |
-60 |
220 |
LAR-88 |
374572.7 |
7435553.3 |
1026.6 |
220 |
-60 |
200 |
LAR-89 |
374665.8 |
7436069.2 |
961.9 |
310 |
-60 |
170 |
LAR-90 |
374557.6 |
7435609.9 |
1023.8 |
220 |
-60 |
200 |
LAR-91 |
374494.5 |
7435937.8 |
964.0 |
220 |
-60 |
150 |
LAR-92 |
374443.3 |
7435844.1 |
972.0 |
220 |
-60 |
150 |
LAR-93 |
374556.1 |
7435697.0 |
1014.9 |
220 |
-60 |
260 |
LAR-94 |
374608.2 |
7435588.3 |
1050.8 |
220 |
-60 |
150 |
LAR-95 |
374639.3 |
7435579.1 |
1064.0 |
220 |
-60 |
300 |
LAR-96 (*) |
374762.0 |
7435919.0 |
1015.0 |
220 |
-60 |
270 |
LAR-97 |
374522.7 |
7435811.0 |
984.6 |
220 |
-60 |
170 |
ATR-113 |
374771.6 |
7436325.5 |
1047.4 |
310 |
-60 |
160 |
(*) unsurveyed collar location |
|
|
|
|
Table 4. MAMIX collars and
survey
Hole |
Easting |
Northing |
Elevation |
Azimuth |
Inclination |
Extension |
Final Depth |
LAR03-EXT |
374684.6 |
7435736.1 |
1084.7 |
310 |
-60 |
100 |
350 |
LAR15-EXT |
374839.0 |
7435824.8 |
1068.2 |
220 |
-60 |
200 |
450 |
LAR25-EXT |
374765.1 |
7435781.1 |
1076.1 |
220 |
-60 |
150 |
400 |
MAR65-EXT |
374902.1 |
7435647.2 |
1112.9 |
220 |
-60 |
200 |
400 |
ATR89-EXT |
375062.3 |
7435866.5 |
1093.2 |
310 |
-60 |
100 |
400 |
Sampling and Assay Protocol
True widths cannot be determined with the
information available at this time. RC holes were sampled on a 2m
continuous basis, with dry samples riffle split on site and one
quarter sent to the Andes Analytical Assay preparation laboratory
in Calama and the pulps then sent to the same company laboratory in
Santiago for assaying. A second quarter was stored on site for
reference. Samples were prepared using the following standard
protocol: drying; crushing to better than 85% passing -10#;
homogenizing; splitting; pulverizing a 500-700g subsample to 95%
passing -150#; and a 125g split of this sent for assaying. All
samples were assayed for %CuT (total copper) and %CuS (acid soluble
copper) by AAS. A full QA/QC program, involving insertion of
appropriate blanks, standards and duplicates was employed with
acceptable results. Pulps and sample rejects are stored by Marimaca
Copper for future reference.
Qualified Person
The 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 Paola Kovacic, Exploration Manager, Marimaca Copper
Corp, a geologist with more than 20 years of experience and a
member of the Colegio de Geólogos de Chile and of the Society of
Economic Geologist USA, , and who is the Qualified Person for the
purposes of NI 43-101 responsible for the design and execution of
the drilling program.
The QP confirms she has visited the project
area, has reviewed relevant project information, is responsible for
the information contained in this news release, and consents to its
publication.
Contact InformationFor further
information please visit www.marimaca.com or contact:
Tavistock +44 (0) 207
920 3150Jos Simson / Emily Moss / Nick
Elwesmarimaca@tavistock.co.uk
Forward Looking Statements
This news release includes certain
“forward-looking statements” under applicable Canadian securities
legislation. 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
annual information form of the Company dated March 28, 2022, the
final short form base prospectus and other filings made by the
Company with the Canadian securities regulatory authorities (which
may be viewed at www.sedar.com). 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.
Neither the Toronto Stock Exchange nor the
Investment Industry Regulatory Organization of Canada accepts
responsibility for the adequacy or accuracy of this
release.
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