Announcement Date: 2022-03-28
Announcement Type: Drilling Results
Announcement Code: NI43-101
Company name: Marimaca Copper Corp.
Project name: Marimaca
Location: Chile
Commodities: Copper
Highlight: Drilling results incl. 106m @ 0.53% Cu from 2m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Vancouver, British Columbia, March 28, 2022 – Marimaca Copper Corp. (“Marimaca Copper” or the “Company”) (TSX: MARI) is pleased to announce results from the first seven (7) reverse circulation (RC) drill holes, totaling 2,150m, from the 2022 infill drilling campaign at the Marimaca Oxide Deposit (“MOD”). The first drill holes were completed in the south-eastern area of the MOD in an area previously considered to be on the margin of the near-surface oxide copper mineralization. The drilling intersected broad zones of near-surface green copper oxide mineralization in six out of seven holes. Importantly, several zones appear to be extensional to the existing Mineral Resource Estimate (MRE) (released December 2019) for the MOD, and the interpretation of the new mineralized intersections indicates that the MOD remains open at depth and to the south-east, indicating potential upside with ongoing drilling in this area. Marimaca’s 2022 drilling campaign consists of 22,500m of planned infill drilling of the MOD and an additional 10,000m of drilling of the MAMIX zone, the depth extension of the MOD (see press releases dated February 9, 2022 and January 20, 2022). Both programs will support an updated Mineral Resource Estimate (“MRE”) planned for early Q3 2022. The 2022 programs are aimed at converting the MOD’s existing Inferred Resource (see press release dated December 2, 2019) to Measured and Indicated categories, as well as resource growth through infill drilling of the MAMIX discovery made in 2021 (see press release dated October 14, 2021).
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