Marimaca Copper Corp. (“Marimaca Copper” or the
“Company”) (TSX: MARI) is pleased to
announce results from the extensional drilling campaign at the
Marimaca Oxide Deposit (“MOD”) and initial drilling results from
the Roble Target (“Roble”), located less than 3km northeast of the
MOD.
The Reverse Circulation (“RC”) drilling campaign
below the MOD open pit limits has intersected significant zones of
mixed, enriched and some primary sulphide mineralization,
indicating the potential for the expansion of the MOD’s future
leachable Mineral Resource Estimate (“MRE”) and complementing the
previous drilling which also encountered significant extensions of
mineralization at depth (refer to announcement on
5th of May 2021). A
total of 3,120m in 12 re-entry holes was drilled as extensions from
the bottom of historic MOD drill holes and tested the continuation
of mineralization below the existing resource pit shell.
Preliminary results suggest the potential to add high-grade
resources to the MOD MRE.
At the Roble Target, a discovery campaign of
2,570m over 12 shallow RC holes was completed with broad zones of
oxide mineralization encountered from surface, providing additional
potential to grow the Company’s oxide resource base.
Highlights
- Significant
extensions at depth of known copper mineralization at the MOD,
complementing previously reported deeper drilling, have potentially
positive implications for future scale and mine life of the
operation
- MAR-17
extended: 488m at 0.48% CuT from 4m including:
- New
intersection of 284m at 0.63% CuT from 208m, including 126m at
1.13% CuT
- MAR-70
extended: 416m at 0.56% CuT from 14m including:
- New
intersection of 206m at 0.73% CuT from 224m
- LAR-06
extended: 332m at 0.66% CuT from 48m including:
- New
intersection of 52m at 0.78% CuT from 328m
- MAR-82
extended: 306m at 0.56% CuT from 4m including:
- New
intersection of 106m at 0.76% CuT from 204m
- MAR-06
extended: 274m at 0.51% CuT from 14m including:
- New
intersection of 80m at 0.78% CuT from 208m
- MAR-55
extended: 252m at 0.40% CuT from 114m including:
- New
intersection of 64m at 0.59% CuT from 302m
- MAR-78
extended: 234m at 1.15% CuT from 108m including:
- New
intersection of 90m at 0.31% CuT from 252m
- MAR-44
extended: 268m at 0.66% CuT from 68m including:
- New
intersection of 96m at 0.84% CuT from 200m
- MAR-80
extended: 228m at 0.69% CuT from 100m including:
- New
intersection of 60m at 1.07% CuT from 268m
- Average
leaching potentials1 for all new
intersections range from 90.8% to 27.2% with an average of
58.7%
- The
Company has identified several alternatives to optimize recoveries
for materials with lower leaching potentials and will examine these
in more detail in the coming months
- Full
details of extensional holes and leaching potentials in Table
1
- At Roble,
discovery drilling intersected shallow oxide mineralization
extending 600m along and 400m across strike
- ROR-03
intersected 62m of 0.34% CuT from 6m including 48m at 0.41%
CuT
- ROR-01
intersected 10m at 0.58% CuT from 36m within a broader intersection
of 138m at 0.12% CuT
- ROR-04
intersected 44m at 0.27% CuT from 10m including 18m at 0.41% CuT
from 10m
- Weak or
thinner mineralization was intersected at Roble in ROR-02, as well
as at the Nepal and Pele targets, located immediately south of
Roble (See Figure 8)
______________________1 Leaching potential is
soluble copper (CuS) plus cyanurable copper (CuCN) divided by total
copper (CuT). Intersection average leaching potential is the
average of leaching potential calculated per 2 metre section of
each reported intersection.
Sergio Rivera, VP Exploration of
Marimaca Copper, commented:
“The depth extensions below the MOD continue to
highlight the mineralizing system is potentially significantly
larger than currently defined and we remain excited about the
grades and widths of mineralization over an area extending
approximately 400m by 350m with extensions up to nearly 300m
downhole.
“Robles also provides another target for
follow-up work, complementing the recent discoveries at Cindy and
Mercedes, where we continue to target delineating shallow, oxide,
resources to form part of the future mine plans in the MOD
development. 2021 has been an exceptional year on the exploration
front, with all three conceptual exploration targets drilled
yielding shallow oxide materials, as well as a significant, higher
grade, extensions at depth below the MOD.”
Hayden Locke, President and CEO of
Marimaca Copper, commented:
“These drill intersections, when combined with
the historical intersections, give a true sense of the potential
scale of Marimaca. Given the very strong grades in many extensional
intersections and their average leaching potentials, we believe
this material could form part of an expanded leachable resource for
the MOD. There are several processing combinations to recover the
non-leachable portions of this material, and we will examine the
technical and economic viability of each to decide the optimum path
to copper recovery.
“We have also had exploration success in our
surrounding package, with the first three satellite targets –
Cindy, Mercedes and Robles – tested and all showing promise for
additional, near surface, leachable resources.”
“We believe the depth extensions at the MOD and
the success at our satellite targets have the potential to add
material additional tonnes to the mine life at Marimaca. We are
currently reviewing the results with our metallurgical team before
planning further drilling campaigns in addition to the infill
drilling to move the inferred resources to higher confidence
categories.”
Overview of Drilling Campaign Objectives
and Results – MOD Depth Extension Program
The Company completed a 12-hole re-entry program
of historic drill holes in the southern portion of the MOD. The
depth extension holes were drilled as continuations of historic
drill holes at the MOD and were designed to test the continuation
of mineralization at depth as follow-up to results from the initial
5-hole extension drilling campaign completed in April 2021
(refer to announcement on 5th
of May 2021) including 106m at 0.39% CuT from 500m
in MAR-127 Ext and 78m at 0.50% CuT from 310m in MAR-35 Ext.
Holes MAR-17 Ext, 06 Ext, 82 Ext, 55 Ext, 81
Ext, 70 Ext, 44 Ext, 80 Ext, 78 Ext and LAR-06 Ext intersected
continuous zones of mixed, enriched and some primary sulphide
copper mineralization below the base of the MOD. Sequential copper
analysis of all samples is complete with leaching potentials mainly
exceeding 50% (refer to Table 1 for further
information).
The MOD depth extension drill holes were
re-entries of historical holes and commenced at depths ranging from
200m to 300m downhole to new final depths of 450m to 500m.
Drilling, noted on the sections below, intersected the down-dip
extension of known mineralization into new zones of mixed, enriched
and sulphide mineralization. Controlling structures intersected
across the northeast and northwest orientated drill holes were
generally consistent with the known structural controls at the
MOD.
Figure 1: Plan view MOD exploration target
and depth extension drill
resultshttps://www.globenewswire.com/NewsRoom/AttachmentNg/39d81276-942a-4a33-b912-ec66111d186e
The majority of these mineralized zones were not
captured in the historical MRE (refer to announcement on
2nd of December 2019)
used to develop the mine plan for the Preliminary Economic
Assessment (“PEA”), which was released in June 2020. MAR-17 Ext,
MAR-82 Ext and MAR-06 Ext were drilled in a northwest orientation
while MAR-81 Ext, MAR-55 Ext, MAR-44 Ext, MAR-80 Ext, MAR-78 Ext,
LAR-06 Ext and MAR-70 Ext were drilled in a northeast
orientation.
Figure 2: MOD Depth Extension Program
Sections and PEA pit shell –
NW-600https://www.globenewswire.com/NewsRoom/AttachmentNg/bd39ef1c-c0c0-4794-95bf-c5959dd51d2e
Figure 3: MOD Depth Extension Program
Sections and PEA pit shell –
NW-550https://www.globenewswire.com/NewsRoom/AttachmentNg/02038ea5-5574-40cc-ac3d-7171d29a70a9
Figure 4: MOD Depth Extension Program and
PEA pit shell - Section
NW-450https://www.globenewswire.com/NewsRoom/AttachmentNg/154bbbea-5b19-4df3-a22e-213a70638ca9
Figure 5: MOD Depth Extension Program and
PEA pit shell - Section
NE-450https://www.globenewswire.com/NewsRoom/AttachmentNg/b4d99542-d0b2-479c-9ab2-fb5a31b999e9
Figure 6: MOD Depth Extension Program and
PEA pit shell - Section
NE-100https://www.globenewswire.com/NewsRoom/AttachmentNg/8d168820-2c6e-4039-a6dd-cf2ef146ad07
Overview of Drilling Campaign Objectives
and Results – Roble program
Roble is located less than 3km to the northeast
of the MOD, within the northeast trending Roble Fault System. This
is a splay off the regional scale Naguayán Fault System, which is
an important control for mineralization at the MOD. Previous
geophysical, geochemical and reconnaissance work successfully
identified and delineated three discrete areas of consistently
sub-cropping copper mineralization, each extending over
approximately 600m by 400m, separated by gravel and sand cover –
Roble, Nepal and Pele (refer to June 29, 2021, announcement).
The 12-hole discovery RC drill program tested
initial targets identified in the 2020 and 2021 generative
exploration campaign. Results have demonstrated clear potential for
the delineation of additional near-surface oxide resources, with
shallow, low to moderate-grade mineralization intercepted at the
Roble and Nepal targets. The 12 holes were drilled predominantly in
a northwest orientation with intercepted mineralization largely
controlled by the northeast trending Roble Fault and associated
splays.
Figure 7: Roble target area of interest
relative to the MOD and other
targetshttps://www.globenewswire.com/NewsRoom/AttachmentNg/a7e64e93-19e7-4fc7-a8a2-0c28342138d9
Figure 8: Significant intercepts at Nepal
and Roble
targetshttps://www.globenewswire.com/NewsRoom/AttachmentNg/419062bb-ef24-4119-b3dd-b099ca611867
Overview of Leaching Potential
The leaching potential of copper ores is defined
as acid soluble copper (CuS) plus cyanurable copper (CuCN) divided
by total copper (CuT). The solubility ratio (CuS/CuT) for copper
oxides such as atacamite, brochantite and chrysocolla, which
dissolve quickly when exposed to acid, is a good predictor of
leachability. However, where the mineralization has several copper
bearing minerals with different dissolution characteristics under
these leaching conditions, the copper acid solubility ratio may
materially underestimate the acid leaching potential for heap leach
operations, especially where some copper sulphides such as
chalcocite, covellite and bornite are present, as these sulphides
can be partially dissolved under oxidation conditions.
For this reason, it is common to assay for
cyanide soluble copper when assaying leachable copper
mineralization. This gives an indication of the total leaching
potential [(CuS + CuCN)/CuT] because cyanide dissolves some of the
copper sulphides that may be present in the sample and assumes
that, during the leaching operation, some oxidation reactions, such
as, ferric leaching and/or cupric chloride leaching occur. Due to
these reactions during sulphide leaching it can be inferred that
copper dissolution in a leaching operation may materially exceed
the copper acid solubility ratio identified.
Marimaca has conducted five phases of
metallurgical testing and has noted that in several mineral
subzones, especially those with higher proportions of black oxides,
the metallurgical recovery has exceeded the leaching potentials
identified in sequential copper analysis.
Table 1: Summary of MOD Depth Extension
Drilling Results
HOLE |
New or HistoricalIntersection |
From (m) |
To (m) |
Length(m) |
CuT (%) |
Mineral Zone Classification |
Ave. LeachingPotential |
|
|
|
|
|
|
|
(%) |
Mar-06 |
Historical + New |
14 |
288 |
274 |
0.51% |
Variable |
56.39% |
incl. |
Historical |
14 |
196 |
182 |
0.42% |
Oxide |
53.71% |
incl. |
New (EXT) |
208 |
288 |
80 |
0.78% |
Enriched / Mixed / Primary |
63.35% |
incl. |
New (EXT) |
210 |
240 |
30 |
1.86% |
Enriched / Mixed / Primary |
63.19% |
incl. |
New (EXT) |
274 |
288 |
14 |
0.15% |
Enriched / Mixed / Primary |
64.27% |
And |
New (EXT) |
344 |
368 |
24 |
0.26% |
Enriched / Primary |
50.69% |
Mar-17 |
Historical + New |
4 |
492 |
488 |
0.48% |
Variable |
60.19% |
incl. |
Historical |
4 |
194 |
190 |
0.28% |
WAD / Oxide |
72.55% |
incl. |
New (EXT) |
208 |
492 |
284 |
0.63% |
Enriched / Mixed / Primary |
52.67% |
incl. |
New (EXT) |
208 |
334 |
126 |
1.13% |
Enriched / Mixed / Primary |
52.87% |
incl. |
New (EXT) |
238 |
280 |
42 |
1.74% |
Enriched / Mixed |
47.85% |
incl. |
New (EXT) |
308 |
334 |
26 |
1.83% |
Enriched / Mixed / Primary |
38.08% |
incl. |
New (EXT) |
352 |
412 |
60 |
0.33% |
Enriched / Mixed / Primary |
60.66% |
incl. |
New (EXT) |
428 |
462 |
34 |
0.30% |
Primary |
37.41% |
incl. |
New (EXT) |
482 |
492 |
10 |
0.28% |
Primary |
28.89% |
Mar-42 |
Historical |
28 |
198 |
170 |
0.43% |
Oxide |
71.01% |
incl. |
Historical |
104 |
172 |
68 |
0.77% |
Oxide |
71.04% |
and |
New (EXT) |
292 |
312 |
20 |
0.37% |
Enriched |
55.24% |
and |
New (EXT) |
342 |
354 |
12 |
0.25% |
Enriched / Primary |
41.92% |
Mar-44 |
Historical |
16 |
28 |
12 |
0.57% |
Oxide |
85.31% |
and |
Historical + New |
68 |
336 |
268 |
0.66% |
Variable |
79.23% |
incl. |
Historical |
102 |
128 |
26 |
0.57% |
Oxide / WAD |
88.05% |
incl. |
Historical |
150 |
200 |
50 |
1.31% |
Oxide / WAD |
89.60% |
incl. |
New (EXT) |
200 |
296 |
96 |
0.84% |
Oxide / Mixed |
84.17% |
incl. |
New (EXT) |
318 |
334 |
16 |
0.32% |
Mixed / Enriched |
90.82% |
and |
New (EXT) |
400 |
426 |
26 |
0.22% |
Primary |
27.99% |
and |
New (EXT) |
448 |
468 |
20 |
0.33% |
Enriched / Mixed |
85.88% |
Mar-55 |
Historical + New |
114 |
366 |
252 |
0.40% |
Variable |
43.33% |
incl. |
Historical |
110 |
196 |
86 |
0.67% |
Oxide / WAD |
47.65% |
incl. |
New (EXT) |
260 |
266 |
6 |
0.30% |
Enriched |
30.98% |
incl. |
New (EXT) |
302 |
366 |
64 |
0.59% |
Primary / Enriched / Mixed |
45.48% |
incl. |
New (EXT) |
302 |
346 |
44 |
0.80% |
Primary / Enriched / Mixed |
38.01% |
incl. |
New (EXT) |
354 |
366 |
12 |
0.21% |
Enriched |
73.03% |
and |
New (EXT) |
396 |
414 |
18 |
0.43% |
Enriched / Primary |
36.29% |
and |
New (EXT) |
492 |
500 |
8 |
0.57% |
Enriched |
61.19% |
Mar-70 |
Historical + New |
14 |
430 |
416 |
0.56% |
Variable |
61.50% |
incl. |
Historical |
42 |
82 |
40 |
0.54% |
Oxide |
76.86% |
incl. |
Historical |
94 |
196 |
102 |
0.53% |
WAD / Oxide |
57.30% |
incl. |
New (EXT) |
224 |
430 |
206 |
0.73% |
Enriched / Mixed / Primary |
62.65% |
incl. |
New (EXT) |
224 |
276 |
52 |
0.88% |
Enriched / Mixed |
71.37% |
incl. |
New (EXT) |
290 |
356 |
66 |
0.76% |
Enriched / Mixed / Primary |
66.55% |
incl. |
New (EXT) |
376 |
416 |
40 |
1.27% |
Enriched / Mixed |
45.24% |
Mar-78 |
Historical + New |
108 |
342 |
234 |
1.15% |
Oxide / Enriched |
73.11% |
incl. |
Historical |
108 |
250 |
142 |
1.70% |
Oxide |
76.51% |
incl. |
New (EXT) |
252 |
342 |
90 |
0.31% |
Oxide / Enriched |
68.07% |
incl. |
New (EXT) |
288 |
304 |
16 |
0.58% |
Oxide / Enriched |
81.72% |
and |
New (EXT) |
372 |
392 |
20 |
0.25% |
WAD / Mixed |
63.39% |
Mar-80 |
Historical + New |
100 |
328 |
228 |
0.69% |
Variable |
76.15% |
incl. |
Historical |
100 |
244 |
144 |
0.63% |
Oxide / WAD |
79.66% |
incl. |
Historical |
188 |
244 |
56 |
1.21% |
Oxide |
86.94% |
incl. |
New (EXT) |
268 |
328 |
60 |
1.07% |
Enriched / Mixed |
68.45% |
incl. |
New (EXT) |
278 |
318 |
40 |
1.52% |
Enriched / Mixed |
60.58% |
and |
New (EXT) |
396 |
406 |
10 |
0.17% |
Oxide / Mixed |
73.35% |
Mar-81 |
Historical |
4 |
32 |
28 |
0.31% |
Oxide |
66.99% |
and |
Historical |
102 |
198 |
96 |
0.42% |
Oxide / WAD |
62.47% |
and |
New (EXT) |
272 |
284 |
12 |
0.15% |
Enriched / Mixed |
66.13% |
and |
New (EXT) |
296 |
318 |
22 |
0.16% |
Enriched |
68.77% |
and |
New (EXT) |
334 |
372 |
38 |
0.73% |
Enriched / Mixed |
62.87% |
and |
New (EXT) |
394 |
420 |
26 |
0.50% |
Oxide / Enriched |
65.16% |
and |
New (EXT) |
464 |
484 |
20 |
0.36% |
Enriched / Mixed |
82.54% |
Mar-82 |
Historical + New |
4 |
310 |
306 |
0.56% |
Variable |
56.72% |
incl. |
Historical |
4 |
144 |
140 |
0.53% |
Oxide / Variable |
80.01% |
incl. |
New (EXT) |
204 |
310 |
106 |
0.76% |
Enriched / Mixed |
37.74% |
incl. |
New (EXT) |
204 |
238 |
34 |
1.19% |
Enriched |
33.88% |
incl. |
New (EXT) |
274 |
300 |
26 |
0.82% |
Mixed / Enriched |
51.49% |
and |
New (EXT) |
486 |
496 |
10 |
0.43% |
Primary |
39.49% |
ATR-79 |
Historical |
6 |
82 |
76 |
0.36% |
WAD / Oxide / Mixed |
50.51% |
incl. |
Historical |
6 |
46 |
40 |
0.46% |
WAD / Oxide |
53.59% |
incl. |
Historical |
76 |
82 |
6 |
0.87% |
Oxide Mixed |
78.18% |
and |
Historical |
122 |
138 |
16 |
1.40% |
Primary / Enriched |
18.99% |
and |
New (EXT) |
212 |
218 |
6 |
0.25% |
Enriched |
85.50% |
and |
New (EXT) |
280 |
320 |
40 |
0.12% |
Enriched / Mixed |
74.79% |
LAR-06 |
Historical + New |
48 |
380 |
332 |
0.66% |
Variable |
57.63% |
incl. |
Historical |
48 |
300 |
252 |
0.63% |
Oxide / WAD / Variable |
60.26% |
incl. |
Historical |
70 |
80 |
10 |
0.81% |
Oxide |
74.23% |
incl. |
Historical |
232 |
300 |
68 |
1.41% |
Oxide / Mixed / Enriched |
61.34% |
incl. |
New (EXT) |
328 |
380 |
52 |
0.78% |
Enriched / Primary |
41.82% |
incl. |
New (EXT) |
328 |
340 |
12 |
1.33% |
Enriched / Primary |
27.16% |
incl. |
New (EXT) |
356 |
380 |
24 |
0.98% |
Enriched / Primary |
32.59% |
Table 2: Summary of Roble Drilling
Results
HOLE |
From (m) |
To (m) |
Length (m) |
CuT (%) |
ROR-01 |
36.00 |
174.00 |
138.00 |
0.12% |
incl. |
36.00 |
46.00 |
10.00 |
0.58% |
incl. |
94.00 |
112.00 |
18.00 |
0.16% |
incl. |
154.00 |
162.00 |
8.00 |
0.18% |
ROR-02 |
60.00 |
74.00 |
14 |
0.12% |
ROR-03 |
6.00 |
68.00 |
62 |
0.34% |
incl. |
20.00 |
68.00 |
48 |
0.41% |
ROR-04 |
10.00 |
54.00 |
44 |
0.27% |
incl. |
10.00 |
28.00 |
18 |
0.41% |
incl. |
36.00 |
54.00 |
18 |
0.23% |
NER-01 |
6.00 |
28.00 |
22 |
0.11% |
and |
78.00 |
102.00 |
24 |
0.16% |
and |
130.00 |
138.00 |
8 |
0.66% |
NER-02 |
12.00 |
60.00 |
48 |
0.10% |
NER-03 |
4.00 |
42.00 |
38 |
0.15% |
incl. |
36.00 |
42.00 |
6 |
0.43% |
NER-04 |
32.00 |
46.00 |
14 |
0.11% |
and |
62.00 |
84.00 |
22 |
0.27% |
and |
230.00 |
246.00 |
16 |
0.17% |
NER-05 |
12.00 |
24.00 |
12 |
0.16% |
and |
60.00 |
66.00 |
6 |
0.11% |
and |
108.00 |
124.00 |
16 |
0.14% |
NER-06 |
36.00 |
88.00 |
52 |
0.15% |
incl. |
36.00 |
52.00 |
16 |
0.24% |
and |
68.00 |
88.00 |
20 |
0.17% |
NER-07 |
50.00 |
92.00 |
42 |
0.17% |
incl. |
56.00 |
68.00 |
12 |
0.32% |
incl. |
82.00 |
92.00 |
10 |
0.25% |
PER-01 |
|
|
|
NSI |
PER-02 |
|
|
|
NSI |
PER-03 |
|
|
|
NSI |
Appendix: MOD Depth Extension Drill
Collars
HOLE |
NORTH |
EAST |
AZIMUTH |
DIP |
DEPTH (m) |
EXTENSION (m) |
FINAL DEPTH (m) |
MAR-06 |
7,435,594.69 |
375,073.54 |
310 |
-60 |
200 |
300 |
500 |
MAR-17 |
7,435,519.50 |
374,925.22 |
310 |
-55 |
200 |
300 |
500 |
MAR-42 |
7,435,517.23 |
374,995.62 |
310 |
-55 |
200 |
250 |
450 |
MAR-44 |
7,435,575.48 |
374,938.62 |
220 |
-55 |
200 |
300 |
500 |
MAR-55 |
7,435,510.84 |
375,080.94 |
220 |
-60 |
200 |
300 |
500 |
MAR-70 |
7,435,586.30 |
375,006.67 |
220 |
-60 |
220 |
280 |
500 |
MAR-78 |
7,435,649.19 |
374,848.34 |
220 |
-60 |
250 |
190 |
440 |
MAR-80 |
7,435,616.80 |
374,885.25 |
220 |
-60 |
250 |
190 |
440 |
MAR-81 |
7,435,560.60 |
375,046.33 |
220 |
-60 |
200 |
300 |
500 |
MAR-82 |
7,435,563.46 |
375,041.94 |
310 |
-60 |
200 |
300 |
500 |
ATR-79 |
7,435,738.01 |
375,045.31 |
310 |
-60 |
200 |
300 |
500 |
LAR-06 |
7,435,754.31 |
374,805.22 |
220 |
-60 |
300 |
150 |
450 |
Appendix: Roble Drill Collars
HOLE |
NORTH |
EAST |
AZIMUTH |
DIP |
DEPTH (m) |
ROR-01 |
7,438,515.26 |
377,501.37 |
310 |
-55 |
220 |
ROR-02 |
7,438,255.56 |
377,377.36 |
310 |
-55 |
200 |
ROR-03 |
7,438,409.21 |
377,374.48 |
310 |
-60 |
200 |
ROR-04 |
7,438,784.13 |
377,421.27 |
310 |
-60 |
150 |
NER-01 |
7,437,970.05 |
377,438.65 |
270 |
-60 |
220 |
NER-02 |
7,437,809.53 |
377,352.83 |
310 |
-55 |
200 |
NER-03 |
7,437,710.83 |
377,351.49 |
310 |
-55 |
200 |
NER-04 |
7,437,805.69 |
377,516.58 |
310 |
-55 |
250 |
NER-05 |
7,437,725.63 |
377,459.86 |
310 |
-55 |
230 |
NER-06 |
7,437,556.14 |
377,369.32 |
270 |
-55 |
200 |
NER-07 |
7,437,593.49 |
377,427.60 |
310 |
-55 |
200 |
PER-01 |
7,436,814.87 |
377,071.64 |
310 |
-60 |
150 |
PER-02 |
7,436,821.06 |
376,970.31 |
310 |
-60 |
150 |
PER-03 |
7,437,059.53 |
377,195.74 |
310 |
-60 |
200 |
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 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 QP confirms he 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/Oliver Lamb/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 29, 2021, 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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