Marimaca Copper provides drilling results at its Marimaca project

Highlights:

• First anomalous gold and silver identified at Marimaca coincident with higher grades of primary copper mineralization in MAD-22.
  • 100 m of anomalous gold (majority >0.0 2 g/t) and silver (majority >1 g/t) from 140 m.
  • 40 m with an average grade of 3.74% CuT and 0.07 g/t Au and 7 g/t Ag from 186 m.
    • Represents 40 m with an average grade of 3.84% CuEq[1] from 186 m.
• MAD-22 intersected over 240 m of continuous mineralisation from surface with a high grade primary mineral zone at depth including:
  • Reconfirms strong association of high-grade chalcopyrite with high magnetic susceptibility.
  • Encountered massive chalcopyrite over an interval of 92 m with an average copper grade of 2.11% CuT from 140 m.
  • Located immediately adjacent to the eastern wall of the whittle pit limits for the October 2022 MRE, indicating potential for high grade, open cast-able mineralisation.
  • Indications are that mineralisation relates to a second, later stage, mineralising event when compared to the broader Marimaca oxide project.
• Large scale magnetic anomaly previously identified believed to be prospective for mineralisation similar to the primary zone in MAD-22.
• Five-hole diamond drilling programme planned, and rig mobilised, to follow up results of MAD-22:
  • 50 m to 100 m step outs from MAD-22.
  • First phase tests approximately 300m of strike potential around MAD-22 with a target width of up to 300 m.
  • Drilling will test deeper extensions below the limit of drill hole MAD-22, which terminated in mineralisation.
  • Second phase of up to five holes based on results of first phase increase tested strike length to 500 m+.
• Fully funded to test the exciting sulfide target.

Sergio Rivera, VP Exploration of Marimaca Copper, commented:

“MAD-22 was a spectacular drill hole in terms of grade, continuity and the shallow nature of mineralisation, and provided us with valuable information with respect to potential sulfide feeder zones for the project. As we have noted in previous releases, there is a strong correlation between magnetic anomalism and the presence of primary copper mineralisation. MAD-22 once again strongly confirmed the relationship. It has also been noted that outcropping zones with higher prevalence of magnetite, in veins and stringers, could be a good surface vector for future exploration targeting Marimaca-style IOCG (iron oxide copper gold) deposits.

“In 2020, we completed high resolution magnetic work and developed a 3D model which highlights a large-scale magnetic anomaly, which we estimate to be over 175 million m in volume, or approximately 475 million t of high magnetic susceptibility rock mass. MAD-22 was drilled into the southern extent of this anomaly, which extends over strike of approximately 1.0 km and to a depth of around 800 m below surface.

“The result of MAD-22 is an exciting confirmation of our view that there is significant sulfide potential below the MOD. We have mobilised a rig to complete an initial follow up programme to test the immediate 300 m to 500 m of strike around MAD-22. Based on the results we achieve we will then plan an expanded programme.”

Read the article online at: https://www.globalminingreview.com/mining/17022023/marimaca-copper-provides-drilling-results-at-its-marimaca-project/