Marimaca completes condemnation drilling programme

The programme was designed to test and confirm the planned site layout to be incorporated into the company’s ongoing permitting and Definitive Feasibility Study (DFS) workstreams. Drilling targeted key areas defined for planned site infrastructure to confirm absence of mineralisation and suitability for development.

Highlights:

• Twenty-one reverse-circulation (RC) drill holes completed across the planned Marimaca Project infrastructure areas.
  • Drilling was designed to confirm the absence of potential mineralisation at these areas, as well as rock suitability for development.
• Drilling confirmed suitability of planned layout for plant site, heap leach pads, waste dumps, site offices, and ripios dumps (spent heap leach ore).
• Layout will be incorporated into the design component of the ongoing Definitive Feasibility Study, led by Ausenco.
• Drill hole, SLR-08, drilled south of the planned plant facilities in the San Lorenzo district, intersected 30 m at 0.99% CuT from 62 m within a broader zone of 68 m at 0.51% CuT from 62 m.
  • Represents a new zone of mineralisation encountered at the Marimaca Project.
  • San Lorenzo is located approximately 4 km from the Marimaca Oxide Deposit (MOD) and represents a separate and distinct mineralised zone.
  • Results will be incorporated into future exploration plans and continue to demonstrate the significant discovery potential and exploration optionality at the broader Marimaca Project.
  • Initially planned for one of two initial areas identified for ripios dumps, the San Lorenzo area will be evaluated further for mineralisation potential to ensure operational flexibility for future development.
• The Marimaca Oxide Project DFS remains on schedule for late 2024 completion with permit submissions targeting the middle of 2024.

Hayden Locke, President and CEO, commented:

“With condemnation complete, we are confident in locking in our plant and infrastructure locations for both permitting and the Definitive Feasibility Study. We have used the information from this programme for the dual purpose of confirming ground conditions to underpin expected civil earthworks estimation. This confirms that the site has good ground conditions and civil earthwork is as expected in previous studies.

“The discovery of a new mineralised trend identified in the San Lorenzo area will be evaluated further to determine next steps, but it appears the core zone extends to the south away from the project’s infrastructure and offers an interesting target for shallow oxide mineralisation. Further afield, we have completed a review of our broader exploration package and have identified several areas with exciting potential. We are finalising 2024 exploration plans particularly for the Sierra de Medina project and will update as new developments occur.

“We continue to progress the permitting and DFS workstreams to our planned timelines, in partnership with Ausenco, with target delivery dates of the middle and end of the year respectively.”

Read the article online at: https://www.globalminingreview.com/mining/23012024/marimaca-completes-condemnation-drilling-programme/