- Drilling highlights include 122m @ 0.79%CuT and 62m @ 0.90%CuT
January 17, 2018 - Marimaca Copper Corp. (“Coro” or the “Company”) (TSX Symbol: COP) is pleased to announce the results of the final 26 reverse circulation (RC) holes from the infill drill program completed at its Marimaca copper project, located 22km E of the port of Mejillones in the II Region of Chile, (Figs. 1 & 2). Together with the previously released results from Marimaca (November 9, December 5, and December 22, 2017), Marimaca Copperhas now published the results of all holes in the program.
“These results complete the drilling for an updated Marimaca resource estimate and Definitive Feasibility Study that is underway,” commented Marimaca CopperPresident and CEO, Luis Tondo. “Results from the exploration RC holes completed at La Atomica and NE Marimaca, together with assays from six diamond drill holes completed for geotechnical purposes will be released shortly.”
Results are shown on Table 1 where %CuT means total copper. Drill hole locations are shown on Fig 3. Drill collar coordinates are shown on Table 2.
Table 1: Intersections
|MAR-97||150m||No Significant Results|
|MAR-104||150m||No Significant Results|
|MAR-105||150m||No Significant Results|
|MAR-111||150m||No Significant Results|
Sampling and Assay Protocol
True widths cannot be determined with the information available at this time. Marimaca CopperRC holes were sampled on a 2 metre 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 companyâ€™s laboratory in Santiago for assaying. A second quarter was stored on site for reference. Samples were prepared using the following standard protocol: drying; crushing to better than 85% passing -10#; homogenizing; splitting; pulverizing a 500-700g subsample to 95% passing -150#; and a 125g split of this sent for assaying. All samples were assayed for CuT (total copper), CuS (acid soluble copper), CuCN (cyanide soluble copper) by AAS and for acid consumption. A full QA/QC program, involving insertion of appropriate blanks, standards and duplicates was employed with acceptable results. Pulps and sample rejects are stored by Marimaca Copperfor future reference.
Sergio Rivera, Vice President of Exploration, Marimaca Copper Corp, a geologist with more than 33 years of experience and a member of the Colegio de Geologos de Chile and of the Instituto de Ingenieros de Minas de Chile, was responsible for the design and execution of the exploration program and is the Qualified Person for the purposes of NI 43-101. Alan Stephens, FIMMM, Executive Director of Marimaca Copper Corp, a geologist with more than 42 years of experience, and a Qualified Person for the purposes of NI 43-101, is responsible for the contents of this news release.
Fig 1: Location of Marimaca
Fig 2: Marimaca Claim Map
Fig 2: Marimaca Drill Plan
Table 2: Drill Collars
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 Llancahue prospect.
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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 timing of future results and further programs. 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, the completion of assays and drill rig availability. 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.