- Recent drilling on Marimaca Copper’s (MARI) flagship oxide posit has encountered returned higher-than-expected-grades, the company announced Monday
- The Chilean company is releasing further results from the most-recent infill and extensional drilling campaign at the Marimaca Oxide Deposit
- Results reported are for a total of 7,102 metres across 35 reverse circulation drill holes
- The drilling intersected two higher-grade green oxide zones located in the northern Atahualpa sector of the Marimaca Oxide Deposit
- Marimaca Copper is down 0.32 percent, trading at $3.09 at 11:11 am ET
Recent drilling on Marimaca Copper’s (MARI) flagship oxide posit has encountered returned higher-than-expected grades, the company announced Monday.
The Chilean company is releasing further results from the most-recent infill and extensional drilling campaign at the Marimaca Oxide Deposit.
Results reported are for a total of 7,102 metres across 35 reverse circulation drill holes.
The drilling intersected two higher-grade green oxide zones located in the northern Atahualpa sector of the Marimaca Oxide Deposit.
Green oxides typically have higher acid solubilities and expected higher recoveries based on the results of the various phases of comprehensive metallurgical testing completed.
Grades are significantly above interpolated grades in the same area from previous Mineral Resource Estimates.
The Atahualpa sector, forming the northern extent of the deposit, was previously considered to be host to dominantly lower-grade green and black oxide mineralization.
Results were not received in time to be included in the 2022 Interim Mineral Resource Estimate.
Drilling results will be captured in the updated Mineral Resource Estimate, targeting conversion of Inferred Resources to the Measured and Indicated categories, planned for early next year.
“As with previous infill drilling campaigns at the MOD, we have been pleasantly surprised by this set of results, located towards the northern end of the MOD. Drilling has intersected broad zones of high-grade oxide mineralization, in most cases near or at surface. The grades are significantly above those interpolated for the northern area in previous MREs and, as such, we expect this drilling to have positive implications for the average grade of our Q1 2023 MRE update, which is targeting 90 percent of resources in the Measured and Indicated Categories,” said VP Exploration Sergio Rivera.
Marimaca Copper is down 0.32 percent, trading at $3.09 at 11:11 am ET.
