Marimaca Copper infill drilling continues to encounter higher grades

The drilling intersected broad zones of near-surface green copper oxide mineralisation in all holes. As with the first infill results, these holes confirmed the mineralised zones as interpreted in the existing mineral resource estimate (MRE) (released December 2019) area for the MOD, but with several zones encountering higher grades than expected. Furthermore, several intercepts were extensional, falling outside the 2019 MRE block model, with positive implications for future resource updates. There is also evidence of extensions to the recently discovered MAMIX zone.

Highlights:

• All drill holes display excellent continuity of mineralisation and are in line with the interpretations expected from MRE model.
• LAR-87 intersected a broad zone of mineralisation outside the south-western limit of MRE block model.
  • Extensions and higher than expected grades for infill portion anticipated to have positive implications for the MRE.
  • Higher grade zones at the bottom of hole interpreted as north-west extension of previously reported MAMIX discovery.
• MAR-138 and MAR-139 both extend mineralisation outside the previous MRE block model and therefore have positive implications for the future MRE update.
  • MAR-139 extends the >0.4% CuT shell well outside the previous MRE, with positive implications for grade in that area.
• Notable intersections include:
  • MAR-143 intercepted 144m of 0.70% CuT from 4 m, including 86 m of 1.0% CuT from 36 m.
  • MAR-145 intercepted 142 m of 0.54% CuT from 8 m, including 102 m of 0.71% CuT from 40 m.
  • MAR-138 intercepted 240 m of 0.33% CuT from 130 m, including 50 m of 0.52% CuT from 204 m and 50 m of 0.56% CuT from 294 m.
  • MAR-139 intercepted 284 m of 0.25% CuT from 10 m, including 80 m of 0.48% CuT from 138 m.
  • LAR-87 intercepted 288 m of 0.21% CuT from 16 m, including 46 m of 0.41% CuT from 258 m.
• Drilling continues to highlight the lateral continuity as well as the thickness of the MOD mineralised column as well as continuing potential for higher grade extensions at depth.

Sergio Rivera, VP Exploration of Marimaca Copper, commented:

“These ten drill holes from our infill campaign have continued to highlight the excellent continuity of mineralisation at the MOD. We intersected the expected mineralisation in all holes. Of note were several areas with grades exceeding those expected in the MRE models, which we anticipate will positively impact our future resource estimations.

“The results of LAR-87, drilled in an area interpreted and modelled as a thinner zone of lower grade, peripheral mineralisation, are especially positive and point to potential for further resource growth in this area. The intersection of a relatively continuous column of 288 m significantly extends the overall mineralised envelope on the south-western edge of the deposit. Of particular interest were the zones of higher-grade material at the bottom of the drill hole, which significantly exceeded the expected grades for this area. These results point to a potential extension of the high grade MAMIX zone discovery, made in 2021.

“We are awaiting the first drill holes from the MAMIX infill program, which is focused on stepping out from the original discovery and should be available imminently. Drilling has been delayed due to the previously announced operational issues with our drilling partners. We have contracted additional rigs to make up the lost time and hope to have completed the program in early July.”

Read the article online at: https://www.globalminingreview.com/mining/11052022/marimaca-copper-infill-drilling-continues-to-encounter-higher-grades/