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Be the first with the news that moves the market- Marimaca Copper Corp. (MARI) has intersected high-grade primary sulphide mineralization at Marimaca Oxide Deposit in northern Chile
- MAD-22 intersected oxide and mixed mineralization before transitioning into primary sulphide mineralization
- The results were in line with the company’s mineral resource estimate
- The company will continue to support work for a definitive feasibility study on the project expected for the second half of 2023
- Marimaca Copper Corp. (MARI) is up 3.78 per cent, trading at $3.11 per share as of 1:43 p.m. EST
Marimaca Copper Corp. (MARI) has intersected high-grade primary sulphide mineralization at Marimaca Oxide Deposit in northern Chile.
As noted in the mineral resource estimate for the deposit, MAD-22 intersected oxide and mixed mineralization before transitioning into primary sulphide mineralization.
Sergio Rivera, Vice President of Exploration for Marimaca Copper, commented,
“While previous drilling into the down-dip geophysical targets identified in 2020 and 2021 intersected additional mixed and secondary sulphides at depth, MAD-22 represents the first significant primary sulphide intersection to date and could represent a primary high-grade feeder structure as interpreted in our geological model for the deposit.”
Hole MAD-22 was drilled from the eastern Marimaca Oxide Deposit through the eastern pit wall and intersected the high-grade mineralization. MAD-22 intersected the border of the magnetic receptiveness identified in the 2020 geophysical campaign.
“The size of the oxide resource base at the [deposit], as demonstrated in the 2022 Mineral Resource Estimate, is a testament to the scale of the mineralizing system, and hole MAD-22 provides exciting evidence for potential extensions of sulphide feeder zones down-dip of Marimaca’s oxide blanket,” Riveria said.
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.
Marimaca Copper Corp. (MARI) is up 3.78 per cent, trading at $3.11 per share as of 1:43 p.m. EST.
