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Marimaca encounters higher than expected grades at Marimaca North

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Global Mining Review,


Marimaca Copper Corp. has announced further results from the 2022 infill and extensional drilling campaign at the Marimaca Oxide Deposit (MOD). Results reported are for a total of 7102 m across 35 reverse circulation (RC) drill holes.

The drilling intersected two higher grade green oxide zones located in the northern, Atahualpa, sector of the Marimaca Oxide Deposit (MOD). Green oxides typically have higher acid solubilities and expected higher recoveries based on the results of the various phases of comprehensive metallurgical testing completed. Results from the 7102 m recently released were received post the data cut-off for the 2022 interim mineral resource estimate (MRE) and will be captured in the updated MRE planned for 1Q23.

The Atahualpa sector, forming the northern extent of the MOD, was previously considered to be host to dominantly lower grade green and black oxide mineralisation and the new results highlight the potential for the definition of additional high-grade centres, similar to that found in the south-central MOD.

Sergio Rivera, VP Exploration of Marimaca Copper, comments:

“As with previous infill drilling campaigns at the MOD, we have been pleasantly surprised by this set of results, located towards the northern end of the MOD. Drilling has intersected broad zones of high-grade oxide mineralisation, in most cases near or at surface. The grades are significantly above those interpolated for the northern area in previous MREs and, as such, we expect this drilling to have positive implications for the average grade of our 1Q23 MRE update, which is targeting 90% of resources in the measured and indicated categories.

“The October 2022 MRE included infill drilling across the central high-grade core of the MOD, which is an important driver of the Marimaca Project’s strong project economics, with the results only improving our confidence in its continuity and grade. This new discovery complements and extends the high-grade core and, given its near surface nature, it will also likely form part of the early years of mine life. We, therefore, expect this drilling to lead to further improvement the project’s already exceptional economics.

“The final 2023 MRE will form the basis the definitive feasibility study, which will be completed in 2023 and will contemplate production scenarios in the range of 50 000 t to 60 000 tpy of copper cathode.”

Read the article online at: https://www.globalminingreview.com/exploration-development/22112022/marimaca-encounters-higher-than-expected-grades-at-marimaca-north/

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Copper mining news South American mining news