Marimaca Copper (TSX:MARI) has reported new results from diamond drill hole MAD-22 at the Marimaca Oxide deposit. The drill hole intersected high-grade primary sulphide mineralization down-dip of oxide mineralization. MAD-22 is a geological-geotechnical drill hole that the company has drilled from the easter MOD all the way through the 2022 Mineral Resource Estimate pit wall. The hole has intersected high-grade, most chalcopyrite mineralization.
MAD-22 has intersected the border of the magnetic susceptibility high identified during Marimaca’s 2020 geophysical campaign, and the magnetic anomaly under the current MOD dips to the east. It also has the same geometry as the interpreted extension of the structure hosting the copper oxide mineralization at the MOD. The drilling at MAD-22 was aimed at gathering geotechnical and geological information about the eastern pit wall area.
Sergio Rivera, VP of Exploration of Marimaca Copper, commented in a press release: “The sulphide potential at Marimaca has always presented a compelling exploration opportunity for the Company. The size of the oxide resource base at the MOD, 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.
“While previous drilling into the down-dip geophysical targets identified in 2020 and 2021 intersected additional mixed and secondary sulphides at depth (MAMIX), 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.
“With the 2022 drill program now completed, results from MAD-22 will be considered in our exploration planning going forward. We look forward to updating the market as our interpretation and plans for additional exploration work are finalized.
“In parallel and as discussed in previous releases, we will continue with our de-risking strategy at the MOD with the objective of delivering an updated MRE in early 2023, capturing the second half of the 2022 infill program. This will form the basis for the DFS on the Marimaca Oxide Deposit planned for the second half of 2023 or early 2024.”
Highlights from the results are as follows:
Table 1. Summary of Drill Results
Hole | Depth (m) | From (m) | To (m) | m | %CuT | ||
MAD-22 | 240 | 0 | 240 | 240 | 1.01 | % | |
including | 10 | 92 | 82 | 0.53 | % | ||
Including | 42 | 92 | 50 | 0.80 | % | ||
and | 112 | 232 | 120 | 1.65 | % | ||
including | 140 | 232 | 92 | 2.11 | % | ||
including | 178 | 232 | 54 | 2.80 | % | ||
Including | 204 | 226 | 22 | 5.27 | % | ||
Including | 214 | 224 | 10 | 8.10 | % |
Table 2. Drill Collar and Survey
Hole | Easting | Northing | Elevation | Azimuth | Inclination | Depth |
MAD-22 | 375143,8 | 7435536,2 | 1124,9 | 85 | -55 | 240 |
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