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Be the first with the news that moves the market- Marimaca Copper (TSX:MARI) has finished reviewing the geological data on its Marimaca copper project in Chile
- The review has revealed new data, showing drill result anomalies at the very lowest depths of the project
- The historic drilling data includes good results at depth, including 44 metres of strike at 1.05 per cent copper from 206 metres down
- The company has initiated a new geophysics campaign, to test the anomalies at the lowest depths possible and determine new drilling targets
- Marimaca Copper Corp (MARI) is up 6.6 per cent and is trading at C$1.60 per share
Marimaca Copper Corp (TSX:MARI) has finished reviewing the geological data on its Marimaca copper project in Chile.
The company has been reviewing the geological data from the site’s recent 2018-2019 drilling program.
The updated interpretation indicates the strong potential for sulphide mineralization beneath the Maricama Oxide Deposit which was the original target for exploration on the site.
The junior miner drilled a number of holes during the second phase of its drilling program at Marimaca.
Results included 42 metres average 0.57 per cent copper from 272 metres down, alongside results over 26 metres averaging 0.97 per cent copper from 178 meters down.
Other results included 48 metres averaging 1.3 per cent copper from 78 metres down, and 44 metres of strike at 1.05 per cent copper from 206 metres down.
The company has stated it is excited about the results, where the drilling and subsequent desktop analysis have shown geological markets in the deepest drill holes.
The company has brought in a geophysics team, to conduct a campaign including high resolution magnetometry to determine further deep drill targets. This should be completed during the second half of this year.
Michael Haworth, the Executive Chairman of Marimaca said the recent exploratory drilling program had shown many of the deeper holes encountered interesting sulphide zones, that merited further exploration.
“What is most exciting is that the copper mineralization in this type of deposit can extend down dip substantially.
“Several reviews indicate that if the deposit is cruelty judged to be only modestly eroded, then the sulphide mineralization could extend down-dip for several hundred metres,” he said.
Marimaca Copper Corp (MARI) is up 6.6 per cent and is trading at C$1.60 per share at 3:30 pm EDT.
