Marimaca (TSX:MARI) drills best intercept yet in Chile

• Marimaca Copper Corp. (MARI) released the final drill results from its infill drilling campaign at the Marimaca Oxide Deposit
• 2,766 metres were drilled across 13 holes located in the northern portion of the deposit
• The results include the best copper intersection drilled to date – LAR-109 intersected 308 metres at 0.94 per cent
• Marimaca Copper Corp. (MARI) is up 5.49 per cent, trading at $3.65 per share as of 2:45 p.m. ET

Marimaca Copper Corp. (MARI) released the final drill results from its infill drilling campaign at the Marimaca Oxide Deposit.

2,766 metres were drilled across 13 holes located in the northern portion of the deposit. Drilling was focused in the northern and central zones, following up on the higher-grade green oxide centres identified in the previously reported 2022 infill drilling in the northern region.

The results include the best copper intersection drilled to date (LAR-109), on a grade-times-width basis, at the deposit since its discovery in 2016.

Highlights:

• LAR-109 intersected 308 metres at 0.94 per cent CuT from 32 metres, including 186 metres at 1.37 per cent CuT from 154 metres, and 26 metres at 4.83 per cent CuT from 202 metres
• TAR-37 intersected 62 metres at 1.02 per cent CuT from 2 metres, including 28 metres at 1.84 per cent from 2 metres
• ATR-167 intersected 46 metres at 1.23 per cent CuT from 180 metres within a broader intersection of 76 metres at 0.79 per cent CuT from 150 metres
• TAR-40 intersected 68 metres at 0.30 per cent CuT from 60 metres, including 26 metres at 0.60 per cent CuT from 90 metres

The northern Marimaca Oxide Deposit continues to demonstrate potential for growth beyond the northeast limits of the 2022 mineral resource estimate (MRE) pit.

Marimaca plans to do an exploration program in the first half of this year, which will follow up on drill hole MAD-22, which intersected primary sulphides (dominantly chalcopyrite) 92 metres at 2.11 per cent CuT from 140 metres, including 22 metres at 5.27 per cent CuT).

Sergio Rivera, Vice President of Exploration for Marimaca Copper, commented that the final results of the 2022 infill reverse circulation program mark the completion of what he called “an exceptionally successful year” at the deposit. He noted that having drilled the best hole to date highlights the continuity of higher-grade copper mineralization in the central area of the deposit.

“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 Marimaca Oxide Deposit versus 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.”

The company will continue to work on permits and engineering to support a planned definitive feasibility study on the Marimaca Project expected for the second half of 2023.

Table 2. Drill Collars and Survey

Marimaca Copper (MARI) is a copper exploration company. The company’s flagship asset is the Marimaca Copper Project in Chile’s Antofagasta region.

Marimaca Copper Corp. (MARI) is up 5.49 per cent, trading at $3.65 per share as of 2:45 p.m. ET.