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Marimaca Announces Infill Drilling Results Further Confirming Consistency of Mineralization at the MOD

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Marimaca Announces Infill Drilling Results Further Confirming Consistency of Mineralization at the MOD

 

 

 

 

 

Marimaca Copper Corp. (TSX: MARI) is pleased to announce further results from the 2022 infill and extensional drilling campaign at the Marimaca Oxide Deposit. 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.

 

Posted September 7, 2022

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