Marimaca Copper Corp. (“Marimaca Copper” or the
“Company”) (TSX: MARI) is pleased to
announce results from a further thirteen (13) reverse circulation
(RC) drill holes, totaling 2,910m, from the 2022 infill drilling
campaign at the Marimaca Oxide Deposit (“MOD”).
Similar to the previously released results (see
release from March 28, 2022 and May 10, 2022), these holes
confirmed the mineralized zones as interpreted in the existing
Mineral Resource Estimate (MRE) (released December 2019) area for
the MOD, and, in several cases, extended mineralization outside the
2019 MRE block model or encountered higher grades than expected.
Deeper drilling in the centre of the deposit continues to highlight
the excellent continuity of the newly discovered MAMIX zone at
depth.
Highlights
- Drilling
continues to highlight excellent continuity of the mineralized
system from surface to depths of nearly 500m
- Several
holes confirm extension potential outside the historical MRE
limits
- Deeper
drilling continues to define broad depth extensions in the MAMIX
zone with better grades at depth
- East and
northeastern extensions to the MOD identified in MAR-140, MAR-146,
MAR-147 and MAR-148
- Infill
drilling grades continue to surprise to the upside
- MAR-149
intersected 190m @ 0.39% CuT from 2m including 126m @ 0.53% CuT
from 2m
- Zone
previously interpreted in MRE to be in the range of 0.10-0.30%
CuT
- Result is
supported by MAR-148 which intersected 70m @ 0.34% CuT from
20m
- MAR-145A
intersected 462m of 0.31% CuT from 8m
- Bottom of
the hole intersected 76m of 0.50% CuT ending in mineralization and
remains open at depth
- ATR-110
intersected 438m of 0.24% CuT from 2m
- Bottom of
the hole intersected 76m of 0.60% CuT from 364m to
440m
- ATR-111
intersected 262m of 0.41% CuT from 2m
Sergio Rivera, VP Exploration of
Marimaca Copper, commented:
“Once again, we are impressed by the remarkable
continuity and predictability of the MOD. Drilling intersected
mineralization at the expected depths in all drill holes as well as
extending mineralization in several areas.
“Grades observed in the drilling campaign
continue to surprise on the upside, which is a phenomenon we have
experienced in our previous infill drilling programs. We note
infill holes MAR-148 and MAR-149, which are in an area previously
interpolated in the MRE to be lower grade material in the range of
0.1% to 0.3% CuT. Both intersected broad zones of green oxide,
mixed and enriched materials with MAR-149 encountering 126m of
0.53% CuT from 2m and MAR-148 returning 70m of 0.34% CuT from 20m.
These results are a significant improvement in grade from the MRE
interpolations and have positive implications for average grade in
the area and could even enable some lower grade areas, previously
stranded, to be captured in the updated mine plans.
“The MAMIX zone also continues to show good
continuity and our confidence in it is growing. MAR-145A and
ATR-110 both intersected the MAMIX zone at the expected depth and
with strong grades providing approximately 150m of vertical (200m
downhole) depth extension beyond the limits of the 2020 PEA pit
limits.
“Several drill holes on the eastern flank of the
deposit offer the strong possibility of extending the MRE, a result
which has been consistently seen across the first 6,300m of infill
drilling. We look forward to the updated MRE which will provide an
indication of the scale increase we can expect for the MOD.”
Overview of Drilling Campaign Objectives
and Results
Marimaca’s 2022 drilling campaign consists of
22,500m of planned infill drilling of the MOD and an additional
10,000m of drilling of the MAMIX zone, the depth extension of the
MOD (see press releases dated February 9, 2022, and January 20,
2022). The objective of these programs is to convert the MOD’s
existing Inferred Resource to Measured and Indicated (“M&I”)
categories, as well as growing the M&I resource inventory
through infill drilling of the MAMIX discovery made in 2021 (see
press release dated October 14, 2021). The initial results of the
infill program (see press releases dated March 28, May 10 and May
19 2022) extended the known mineralized envelope, especially along
the southern margin of the deposit and encountered grades above
those interpreted in previous MREs.
The current results (refer to Figure
1) have confirmed the geological and resource modelling,
with mineralization encountered in the expected areas. Once again,
there have been positive surprises. Several zones encountered
grades exceeding expectations in the MRE models and interpretation,
with zones extending well beyond the previously interpreted
mineralized envelope on the eastern flank of the MOD around holes
MAR-140, MAR-146, MAR-147 and MAR-148.
Figure 1: Plan View 2022 Infill Drilling at
MOD with Current Release
Results: https://www.globenewswire.com/NewsRoom/AttachmentNg/dfd31ad7-5ed2-4488-9446-f0d973e52796
Drill holes MAR-140, MAR-146, MAR-147 and
MAR-148 are all located on the eastern and north-eastern flank of
the deposit, an area which was previously interpreted to be of
lower grade and with limited opportunities for resource expansion.
Holes MAR-140, MAR-146 and MAR-147 all intersected broad zones of
mineralization which extend well outside the limits of the previous
MRE and PEA pit shell. These are expected to have positive
implications for future MRE and mine plans.
Figure 2: 3D Section, Looking North, 2022
Infill Drilling with 2020 PEA Pit
Shell: https://www.globenewswire.com/NewsRoom/AttachmentNg/0c50f6ab-e37b-45db-b10c-8014f53ed86b
Figure 3 helps visualize drill
holes MAR-145A and ATR-110, which are both located in the center of
the MOD and intersected nearly 500m of mineralized column from
surface to the bottom of the holes. The drill holes were notable
for the consistency of mineralization downhole, further
underpinning the deposit’s amenability to bulk tonnage mining
methods. Both holes also intersected the higher grade MAMIX depth
extension at depth, which provides further support for the
continuity of this zone.
MAR-145A intersected 462m of 0.32% CuT from 8m
as part of a fully intact oxide mineralized horizon. The hole ended
in mineralization, with the intersection of 76m of 0.5% CuT
material from 394m until the end of the hole, interpreted to be the
extension of the previously defined MAMIX zone.
ATR-110, which is located approximately 100m
step out from MAR-145A, also intersected over 400m of continuously
mineralized column from 2m. Similar to MAR-145A, it also
intersected the interpreted MAMIX zone at the expected depth,
intersecting 76m of 0.6% CuT material from 364m until 440m.
The MAMIX zones for both holes were logged as
mixed oxide, secondary sulphides and enriched materials, consistent
with the broader MAMIX target.
Figure 3: 3D Section, Looking East, MOD
Depth (MAMIX) Extensions with 2020 PEA Pit
Shell: https://www.globenewswire.com/NewsRoom/AttachmentNg/cbd4875e-9f80-4f74-a99c-e826fa890ddb
Figure 4 shows MAR-149 and
MAR-148 relative to the PEA pit shell and the 0.4% CuT grade shell
from previous MRE. Both holes are in the north-eastern limb of the
MOD and intersected mineralization which is of higher grade than
the interpolations in the block model for the previous MRE.
MAR-149, which intersected 190m of 0.39% CuT material including
126m of 0.53% from 2m, is expected to be particularly positive for
the overall grade for the north-eastern flank.
Figure 4: 3D Section and Plan View,
North-East High Grade Extensions, 2020 PEA Pit Shell with 0.4% CuT
MRE Grade
Shell: https://www.globenewswire.com/NewsRoom/AttachmentNg/e7fdcc22-4731-481d-9342-e0beed31a558
The results of the current batch of drill holes
once again confirm the excellent lateral and vertical continuity of
mineralization and confirm the previous interpretations
underpinning the 2019 MRE. As with previous drilling, several holes
extended mineralization outside the previous MRE envelope and
encountered higher grades, with positive implications for the
future MREs.
The updated MRE is planned to be completed
following the completion of the current drilling program.
Table 1. Summary of Drill
Results
Hole |
TD |
|
From |
To |
m |
%CuT |
MAR-140 |
350 |
|
152 |
294 |
142 |
0.44 |
including |
152 |
206 |
54 |
0.30 |
including |
152 |
162 |
10 |
0.21 |
and |
170 |
206 |
36 |
0.39 |
|
224 |
294 |
70 |
0.64 |
including |
224 |
242 |
18 |
1.94 |
and |
280 |
290 |
10 |
0.54 |
MAR-141 |
290 |
|
50 |
172 |
122 |
0.15 |
including |
50 |
60 |
10 |
0.35 |
and |
74 |
86 |
12 |
0.21 |
and |
128 |
172 |
44 |
0.32 |
and |
280 |
288 |
8 |
0.46 |
MAR-144 |
350 |
|
20 |
244 |
224 |
0.21 |
including |
20 |
72 |
52 |
0.20 |
|
88 |
168 |
80 |
0.37 |
including |
88 |
132 |
44 |
0.49 |
and |
278 |
288 |
10 |
0.35 |
MAR-145A |
470 |
|
8 |
470 |
462 |
0.32 |
|
8 |
212 |
204 |
0.40 |
including |
58 |
112 |
54 |
1.02 |
|
310 |
470 |
160 |
0.35 |
including |
310 |
342 |
32 |
0.51 |
and |
394 |
470 |
76 |
0.50 |
MAR-146 |
250 |
|
86 |
210 |
124 |
0.33 |
including |
86 |
126 |
40 |
0.53 |
and |
170 |
210 |
40 |
0.44 |
MAR-147 |
270 |
|
42 |
234 |
192 |
0.22 |
including |
76 |
102 |
26 |
0.58 |
and |
142 |
158 |
16 |
0.48 |
and |
214 |
234 |
20 |
0.56 |
ATR-110 |
450 |
|
2 |
440 |
438 |
0.24 |
including |
18 |
150 |
132 |
0.31 |
including |
54 |
106 |
52 |
0.50 |
including |
240 |
440 |
200 |
0.29 |
including |
240 |
286 |
46 |
0.15 |
and |
364 |
440 |
76 |
0.60 |
TAR-27 |
250 |
|
36 |
66 |
30 |
0.23 |
|
126 |
242 |
116 |
0.18 |
including |
142 |
180 |
38 |
0.32 |
and |
204 |
242 |
38 |
0.15 |
TAR-28 |
170 |
|
96 |
138 |
42 |
0.35 |
including |
96 |
118 |
22 |
0.57 |
MAR-148 |
250 |
|
8 |
236 |
228 |
0.17 |
including |
20 |
90 |
70 |
0.34 |
including |
42 |
78 |
36 |
0.53 |
|
126 |
142 |
16 |
0.29 |
|
214 |
236 |
22 |
0.22 |
ATR-111 |
300 |
|
2 |
264 |
262 |
0.41 |
including |
2 |
22 |
20 |
0.46 |
and |
64 |
150 |
86 |
0.70 |
and |
154 |
264 |
110 |
0.30 |
MAR-149 |
250 |
|
2 |
192 |
190 |
0.39 |
including |
2 |
128 |
126 |
0.53 |
including |
6 |
28 |
22 |
0.55 |
and |
58 |
128 |
70 |
0.68 |
MAR-150 |
180 |
|
30 |
154 |
124 |
0.13 |
including |
30 |
60 |
30 |
0.16 |
and |
96 |
114 |
18 |
0.23 |
and |
130 |
148 |
18 |
0.20 |
Table 2. Drill collars and
survey
Hole |
Easting |
Northing |
Elevation |
Azimuth |
Inclination |
Depth |
MAR-140 |
375200.7 |
7435434.1 |
1107.9 |
310 |
-60 |
350 |
MAR-141 |
375129.8 |
7435612.9 |
1137.5 |
310 |
-60 |
290 |
MAR-144 |
374863.8 |
7435766.8 |
1095.3 |
310 |
-60 |
350 |
MAR-145A |
374865.8 |
7435758.8 |
1095.4 |
220 |
-60 |
470 |
MAR-146 |
375202.0 |
7435760.6 |
1087.3 |
220 |
-60 |
250 |
MAR-147 |
375263.4 |
7435828.6 |
1103.2 |
220 |
-60 |
270 |
MAR-148 |
375275.9 |
7436017.9 |
1136.5 |
220 |
-60 |
250 |
MAR-149 |
375247.3 |
7435981.5 |
1133.4 |
310 |
-60 |
250 |
MAR-150 |
375216.9 |
7435940.3 |
1119.3 |
310 |
-60 |
180 |
TAR-27 |
375345.3 |
7436076.2 |
1140.5 |
220 |
-60 |
250 |
TAR-28 |
375342.8 |
7436086.7 |
1140.4 |
310 |
-60 |
170 |
ATR-110 |
374910.4 |
7435718.7 |
1081.1 |
220 |
-60 |
450 |
ATR-111 |
374943.0 |
7435700.2 |
1080.3 |
310 |
-60 |
300 |
|
|
|
|
|
|
|
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 40 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/Emily Moss/ Adam
Baynesmarimaca@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 25, 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.
Marimaca Copper (TSX:MARI)
Graphique Historique de l'Action
De Mar 2024 à Avr 2024
Marimaca Copper (TSX:MARI)
Graphique Historique de l'Action
De Avr 2023 à Avr 2024