Marimaca releases drilling results from northern MOD

Highlights:

• Infill drilling continues to improve confidence in the higher-grade centres identified in the northern infill drilling announced on 21 November 2022, and the higher-grade central MOD (MAR-175).
  • Results continue to demonstrate potential for improved grade profile in the northern sector from previous grade interpolation of the northern MOD.
  • Target of the northern infill campaign is to improve the resource categorisation from dominantly inferred resources to measured and indicated categories for the purpose of future mine planning
• Highlights from reported results:
  • MAR-175 intersected 50 m at 1.38% CuT from 64 m.
  • ATR-146 intersected 86 m at 0.62% CuT from 2 m including 44 m at 0.92% CuT from 34 m.
  • ATR-158 intersected 158 m at 0.50% CuT from 26 m including 20 m at 0.95% CuT from 138 m.
  • ATR-142 intersected 148 m at 0.49% CuT from 2 m including 34 m at 0.83% from 114 m.
  • ATR-138 intersected 120 m at 0.40% CuT from 2 m including 38 m at 0.65% CuT from 76 m.
  • LAR-104A intersected 114 m at 0.45% CuT from 32 m including 54 m at 0.60% CuT from 32 m.
  • TAR-35 intersected 42 m at 0.81% CuT from 2 m
• Remaining drilling from the 2022 campaign, currently awaiting final assays (approximately 3000 m of RC and 3000 m of diamond drilling), will be released ahead of the planned 2023 MRE.

Sergio Rivera, VP Exploration of Marimaca Copper, commented:

“The infill drilling results from Marimaca continue to provide positive surprises and we are very pleased with the current results, which are, once again, above the interpolated grades in the recently released MRE for the northern end of the MOD.

“Prior to the 2022 campaign, the northern MOD represented the least-densely drilled area of the deposit, and, as a result, the least well-understood. The current results provide additional support to the exceptional results released on 21 November 2022, and have further improved our interpretation of the geology and confidence in continuity of the copper mineralisation. Most importantly, both sets of results demonstrate upside to the previously interpolated grades from our 2022 MRE for the northern MOD as we prepare for our final updated resource in early 2023, which will focus on conversion of the majority of resources into the measured and indicated categories.

“The new high-grade core to the north is expected to add further copper tonnes to our mineral inventory, which will underpin the proposed change in production for the future DFS to either 50 000 tpy or 60 000 tpy of copper cathode for a life of mine which we expect to be greater than 12 years. Clearly, we would expect this to also add significant economic value to the MOD as compared to the 2020 PEA, which outlined already exceptional economics including industry leading capital cost to production and return on invested capital metrics.”

Read the article online at: https://www.globalminingreview.com/mining/07122022/marimaca-releases-drilling-results-from-northern-mod/