Highlights
- Drilling focused on the northern and central zones of the MOD – following up on previous 2022 infill results which identified high-grade green oxide zones in the northern MOD (see press release dated
December 5 th, 2022 andNovember 21 st, 2022)- The northern MOD was previously interpreted to be lower grade, dominantly WAD (black oxide) copper mineralization
- Results expected to have positive implications for average grade in northern area of the deposit for the updated Mineral Resource Estimate (“MRE”) planned for the first half of 2023, targeting conversion of Inferred Resources into Measured and Indicated categories
- Highlights from reported results include
- LAR-109 intersected 308m at 0.94% CuT from 32m, including 186m at 1.37% CuT from 154m, including 26m at 4.83% CuT from 202m
- TAR-37 intersected 62m at 1.02% CuT from 2m, including 28m at 1.84% from 2m
- ATR-167 intersected 46m at 1.23% CuT from 180m within a broader intersection of 76m at 0.79% CuT from 150m
- TAR-40 intersected 68m at 0.30% CuT from 60m including 26m at 0.60% CuT from 90m
- The northern MOD continues to demonstrate potential for growth beyond the northeast limits of the 2022 MRE pit
- Results represent the final assays of the 2022 infill RC campaign
- 2,762m of diamond drilling (geological and geotechnical drilling) remains outstanding from the 2022 program with final assays pending
2023 Exploration Planning
- Marimaca is finalizing plans for the H1 2023 exploration program which will follow-up on drill hole MAD-22, which intersected primary sulphides (dominantly chalcopyrite) down-dip of the MOD (92m at 2.11% CuT from 140m including 22m at 5.27% CuT) – see press release dated
December 15, 2022 - The Company will provide an update to the market in due course
“The final results of the 2022 infill RC program mark the completion of an exceptionally successful year at the MOD. Grades intersected in the northern MOD continue to surprise us to the upside, while results from LAR-109, the best hole we have drilled to date at the MOD, highlights the continuity of higher-grade copper mineralization in the central MOD.
Today’s results improve our confidence in the potential for upside in the planned 2023 MRE – as discussed previously, the higher-grade nature of mineralization identified in the northern MOD vs. the current interpolation of grades has positive implications for Marimaca’s mineral inventory.
Equally as exciting, we are in the final stages of planning for the H1 2023 exploration program where we intend to investigate the potential for extensions to the sulphide mineralization identified in MAD-22. We look forward to updating the market when plans have been finalized.”
Overview of Drilling Campaign Objectives
Marimaca’s 2022 drilling campaign consisted of over 41,500m of RC and diamond drilling between the MOD infill and the MAMIX zone, the depth extension of the MOD. The 2022 MRE, announced on
Figure 1: Plan View of Infill Drilling Results
Table 1. Summary of Drill Results
Hole | Depth (m) | From (m) | To (m) | Interval (m) | CuT (%) | |
ATR-164 | 200 | 68 | 102 | 34 | 0.27 | |
including | 44 | 56 | 12 | 0.31 | ||
170 | 196 | 26 | 0.26 | |||
ATR-165 | 300 | 18 | 80 | 62 | 0.20 | |
ATR-166 | 250 | 84 | 96 | 12 | 0.28 | |
124 | 158 | 34 | 0.28 | |||
192 | 214 | 22 | 0.23 | |||
ATR-167 | 226 | 150 | 226 | 76 | 0.79 | |
including | 180 | 226 | 46 | 1.23 | ||
MAR-178 | 150 | 72 | 118 | 46 | 0.29 | |
LAR-109 | 350 | 32 | 340 | 308 | 0.94 | |
32 | 136 | 104 | 0.32 | |||
including | 32 | 44 | 12 | 0.42 | ||
and | 64 | 122 | 58 | 0.40 | ||
154 | 340 | 186 | 1.37 | |||
including | 160 | 198 | 38 | 0.41 | ||
and | 202 | 228 | 26 | 4.83 | ||
238 | 262 | 24 | 0.62 | |||
and | 278 | 328 | 50 | 1.60 | ||
TAR-36 | 230 | No significant intercepts | ||||
TAR-37 | 250 | 2 | 64 | 62 | 1.02 | |
including | 2 | 30 | 28 | 1.84 | ||
172 | 218 | 46 | 0.37 | |||
including | 182 | 216 | 34 | 0.42 | ||
TAR-38 | 150 | 90 | 104 | 14 | 0.28 | |
120 | 128 | 8 | 0.22 | |||
TAR-39 | 200 | 4 | 62 | 58 | 0.24 | |
86 | 92 | 6 | 0.35 | |||
TAR-40 | 160 | 60 | 128 | 68 | 0.30 | |
including | 90 | 116 | 26 | 0.60 | ||
TAR-41 | 150 | 24 | 72 | 48 | 0.27 | |
including | 24 | 42 | 18 | 0.51 | ||
TAR-42 | 150 | No significant intercepts |
Table 2. Drill Collars and Survey
Hole | Easting | Northing | Elevation | Azimuth | Inclination | Depth |
ATR-164 | 375234.3 | 7436107.9 | 1111.5 | 220 | -60 | 200 |
ATR-165 | 375144.9 | 7436169.9 | 1116.3 | 310 | -60 | 300 |
ATR-166 | 374962.3 | 7436343.4 | 1065.1 | 220 | -60 | 250 |
ATR-167 | 374936.5 | 7436366.9 | 1065.6 | 220 | -60 | 226 |
LAR-109 | 374812.7 | 7435702.0 | 1123.7 | 220 | -60 | 350 |
MAR-178 | 375276.7 | 7435695.8 | 1132.8 | 220 | -60 | 150 |
TAR-36 | 375034.8 | 7436346.5 | 1069.2 | 310 | -60 | 230 |
TAR-37 | 375188.5 | 7436205.0 | 1099.9 | 220 | -60 | 250 |
TAR-38 | 375036.0 | 7436340.3 | 1069.4 | 220 | -60 | 150 |
TAR-39 | 375252.9 | 7436221.5 | 1092.3 | 220 | -60 | 200 |
TAR-40 | 375411.5 | 7436156.4 | 1130.4 | 220 | -60 | 160 |
TAR-41 | 375297.0 | 7436256.0 | 1085.3 | 220 | -60 | 150 |
TAR-42 | 375220.6 | 7436321.6 | 1082.2 | 220 | -60 | 150 |
Sampling and Assay Protocol
True widths cannot be determined with the information available at this time. RC holes were sampled on a 2m continuous basis, with dry samples riffle split on site and one quarter sent to the Andes Analytical Assay preparation laboratory in Calama and the pulps then sent to the same company laboratory in
Qualified Person
The technical information in this news release, including the information that relates to geology, drilling and mineralization was prepared under the supervision of, or has been reviewed by
The QP confirms he has visited the project area, has reviewed relevant project information, is responsible for the information contained in this news release, and consents to its publication.
Contact Information
For further information please visit www.marimaca.com or contact:
+44 (0) 207 920 3150
marimaca@tavistock.co.uk
Forward Looking Statements
This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by
Neither the
![](https://ml.globenewswire.com/media/OGMyN2EyYmItNDM3YS00MDNlLWE2ZWUtY2QyOTFiOWE4MmNhLTEwOTk1Mjg=/tiny/Marimaca-Copper-Corp-.png)
Figure 1:
![](https://ml.globenewswire.com/media/8aa6a6fb-c4b9-43da-9f98-0fe7c3ab5500/medium/figure-1.png)
Plan View of Infill Drilling Results
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