Marimaca Copper's (TSX:MARI) drilling delivers significant extensions to oxide deposit

Marimaca Copper’s (TSX:MARI) drilling delivers significant extensions to oxide deposit

TSX:MARI

Simon Druker
Markets Reporter
simon.druker@themarketherald.ca

05 May 2021 15:15 (EDT)

Marimaca Copper’s (MARI) announced the results from the remaining drill holes completed to test the extensions of mineralization below the Marimaca Oxide Deposit
The company believes tests may have positive implications for the future leachable Mineral Resource Estimate
Drilling of a nine-hole program at the Cindy Target has commenced
The company remains on track to test all targets by the end of the first half of 2021
Marimaca Copper is unchanged on the day, with shares of the company trading at C$5.00 at 2:41 pm ET

Marimaca Copper (MARI) announced the results from the drilling completed to test the extensions of mineralization below the Marimaca Oxide Deposit.

Tests have yielded promising results which the company believes may have positive implications for the future leachable Mineral Resource Estimate (MRE) for the Marimaca Oxide Deposit.

Drilling of a nine-hole program at the Cindy Target has commenced.

Infrastructure preparation is underway at Mercedes and Robles and the company remains on track to test all targets by the end of the first half of 2021.

The company completed a five-hole drilling campaign at the Marimaca Copper Project, which was designed to test for extensions to mineralization below the Marimaca Oxide Deposit. Based on the structural controls of the mineralization, the results of previous geophysical campaigns and earlier drilling, which extended beyond the current Mineral Resource Estimate area, the company believes there is the potential for extensions of the mineralized body at depth across the full strike length of the deposit.

“These results indicate that the oxide / mixed mineralization zone of the MOD is not closed off and, in fact, extends quite significantly at depth and along strike, presenting an opportunity to materially increase the size of the leachable resource for the MOD. The mineralization intersected in the current drilling is predominantly mixed oxide and secondary sulphide with minor chalcopyrite. We are currently completing full sequential copper analysis to define the leaching potential of this material,” said Marimaca VP of Exploration Sergio Rivera.

Marimaca Copper is unchanged on the day, with shares of the company trading at C$5.00 at 2:41 pm ET.

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