These initial drill holes were aimed to test the extensions of mineralization below the MOD. Drilling of a nine-hole program at the Cindy Target has commenced, infrastructure preparation is underway at Mercedes and Robles and the Company remains on track to test all targets by the end of H1 2021.
Highlights
Significant down dip and along strike extensions to mixed oxide-secondary sulphide mineralization immediately below the limits of the PEA defined open pit
Mar-127 intersected: 38m @ 0.30% CuT from 148m, extending and broadening the lower-grade oxide halo around the MOD
106m @ 0.39% CuT from 502m (incl. 58m @ 0.46% CuT from 502m) of mixed oxide and secondary sulphides
Mar-35 Extension, designed to confirm and extend the results from MAR-127, intersected: 78m @ 0.50% CuT from 310m of mixed oxide and secondary sulphides
34m @ 0.41% CuT from 416m of mixed oxide and secondary sulphides
Sequential copper analysis of all samples is currently underway which will provide an indication of leaching potential and potential metallurgical recoveries via heap leach
Phase 4 met testing program previously indicated strong recoveries in the mixed mineralization zones tested
'The mineralization intersected in the current drilling is predominantly mixed oxide and secondary sulphide with minor chalcopyrite. We are currently completing full sequential copper analysis to define the leaching potential of this material.'
'If this material is leachable, with recoveries similar to the results achieved in our metallurgical testing, it may provide an opportunity to increase the scale of production for the MOD. We are currently completing a detailed options study to define the basis of design for the upcoming Feasibility Study for the MOD and we will incorporate the potential for increasing the scale of the project into our decision-making process.'
Discussion of Campaign Objectives and Results
The Company completed a five-hole drilling campaign at the
MAR-127 and MAR-35-EXT
MAR-127 is located approximately 400m to the south of MAR-125, the first drill hole of the campaign (refer to press release of
The second intersection was deeper and is believed to represent a material downdip extension of the known mixed mineralization zones. It intersected 106m of mixed oxide, secondary and minor primary sulphide mineralization with an average grade of 0.39% CuT, including 58m at 0.46% CuT, starting from 502m downhole.
MAR-35-EXT is the continuation, at depth, of a previous drill hole and was drilled with the aim of testing the continuity of the mixed mineralization intersected in MAR-127. The results were, once again, very positive with two broad zones of mixed oxide, secondary and primary sulphide mineralization intersected up dip from MAR-127. Results included 78m with an average grade of 0.50% CuT from 310m and 34m with an average grade of 0.41% CuT from 416m, for over 100m of copper mineralization. Both drill holes encountered what is believed to be the downdip extension of mixed copper mineralization encountered in previous drilling. These drill holes include MAR-25 which intersected 106m at 0.58% CuT, MAR-29 with 90m at 0.55% CuT and MAR-107 with 62m at 0.40% CuT. The majority of these mineralized zones were not captured in the Preliminary Economic Assessment ('PEA') mine plan.
The Company will examine all of these drill holes, with respect to sequential copper analysis and the expected favourable metallurgical response achieved for the mixed zones of mineralization in the Phase 4 metallurgical program (refer to press release of
MAR-126
MAR-126 is located on the eastern margin of the MRE and was designed to test for extensions of mineralization at depth. It provided a significant amount of information with respect to the geological model for Marimaca and intersected a zone of oxide mineralization from surface (26m with an average grade of 0.33% CuT), providing evidence for a material broadening of the lower-grade halo around the current MOD MRE.
At depth, the drill hole intersected several narrower zones of primary copper sulphide including 22m with an average grade of 0.61% CuT from 524m downhole. These intersections, and the orientations of the structures observed in drilling, remain consistent with the magnetic anomaly that dips to the east (refer to press release of 23 September 2020).
MAR-128
MAR-128 is located approximately 700m to the south of MAR-125, the first drill hole of the campaign (refer to press release of
Sampling and Assay Protocol
True widths cannot be determined with the information available at this time. Marimaca Copper RC holes were sampled on a 2m continuous basis, with dry samples riffle split on site and one quarter sent to the Andes Analytical Assay preparation laboratory in Calama and the pulps then sent to the same company laboratory in
Contact:
Tel: +44 (0) 207 920 3150
Email: marimaca@tavistock.co.uk
Forward Looking Statements
This news release includes certain 'forward-looking statements' under applicable Canadian securities legislation. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by
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