January 19, 2018, Vancouver, Canada - Marimaca Copper Corp, ("Marimaca Copperor the Company") (TSX:COP) is pleased to announce that it has submitted the Environmental Impact Declaration (DIA) for its Marimaca Project Phase 1 and has passed the 5-day admissibility period into the Environmental Impact Evaluation System (SEIA). Both of these milestones are required for the Marimaca project to be considered to be in good standing by the government such that it may continue to be assessed by the authorities responsible for evaluating the Environmental information and ultimately grant the Environmental Qualification Resolution (RCA) for this project. The DIA for Phase 1 of the Marimaca project is based on the Definitive Feasibility Study (â€œDFSâ€) currently underway, which is on track for completion and release in Q1 of this year. Completion of this DFS will satisfy the requirements of the formal arrangement for Marimaca Copperto achieve 75% ownership of the Marimaca project.
"The Marimaca DIA submission signifies a solid milestone and a forward movement required for fast-tracking Marimaca into production as per our strategic plan," commented Marimaca CopperCEO Luis Tondo.
About Marimaca Copper Corp.:
Coro’s strategy is to grow a mining business through the discovery, development and operation projects at any stage of development, which are well located with respect to infrastructure and water, have low permitting risk, and have the potential to achieve a short and cost effective timeline to production. The Companyâ€™s preference is for open pit heap leach copper projects, where minimizing capital investment and creating profitability are priorities and, where the likely capital cost is financeable relative to the Companyâ€™s market capitalization. The Company’s assets include the Marimaca development project; its 65% interest in the SCM Berta company, which owns the Berta mine and Nora plant and the El Jote and Llancahue prospects.
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This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Such forward-looking statements or information, include but are not limited to permitting. Forward-looking statements involve known and unknown risks, uncertainties and other factors which are beyond Coroâ€™s ability to predict or control and may cause Coroâ€™s actual results, performance or achievements to be materially different from any of its future results, performance or achievements expressed or implied by forward-looking statements. These risks, uncertainties and other factors include, but are not limited to copper price volatility, and changes in debt and equity markets. Such forward-looking statements are also based on a number of assumptions which may prove to be incorrect, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the Company’s documents filed from time to time with the securities regulators in the Provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, New Brunswick, Nova Scotia, Prince Edward Island and Newfoundland and Labrador.
Accordingly, readers should not place undue reliance on forward-looking statements. Marimaca Copperundertakes no obligation to update publicly or otherwise revise any forward-looking statements contained herein whether as a result of new information or future events or otherwise, except as may be required by law.