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Independent Study Confirms Optimal Development Pathway for the Marimaca Copper Project
VANCOUVER, British Columbia, June 01, 2020 (GLOBE NEWSWIRE) -- Marimaca Copper Corp. (“Marimaca Copper” or the “Company”) (TSX: MARI) is pleased to release the
About this update from Marimaca Copper Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, June 01, 2020 (GLOBE NEWSWIRE) -- Marimaca Copper Corp. (“Marimaca Copper” or the “Company”) (TSX: MARI) is pleased to release the high level results of a detailed trade-off analysis, conducted by independent consultants, Gestion y Economia Minera Limitada (“GEM”), for the development of its flagship Marimaca Copper Deposit (“Marimaca” or “the Project”). Highlights GEM conducted a detailed trade-off analysis of potential development strategies for Marimaca including: a smaller scale, low capex option utilising existing processing infrastructure at the nearby Ivan Plant; a phased development to grow from smaller scale to full scale production, utilising both the Ivan Plant and/or greenfields plant closer to the Marimaca deposit; or upfront full-scale development utilising standalone greenfields plant at the Marimaca deposit. The GEM analysis confirmed that a full-scale development is the optimum strategy and that Marimaca is an exciting, mid-size, copper project. The full-scale standalone development would comprise: Large, bulk mining, open pit method of extraction; Crushing, Agglomeration, Heap/ROM Leaching and Solvent-Extraction, Electro-Winning (“SX-EW”) processing; With current Mineral Resources, design capacity for up to 40,000 tonnes of copper cathode production per annum. The Preliminary Economic Assessment (“PEA”) is progressing the full-scale option and, despite disruptions due to Coronavirus, is expected to be completed around the end of June or early July 2020. Michael Haworth, Executive Chairman of Marimaca Copper Corp commented: “As part of the Preliminary Economic Assessment, we engaged GEM to conduct a detailed trade-off analysis of the myriad of potential development routes available for the exciting Marimaca Project. “While this analysis is at an early stage, GEM concluded that Marimaca is clearly a very promising project within the global sphere of copper development peers. GEM’s report also confirmed that Marimaca warrants development as a standalone project with a production capacity design for up to 40,000 tonnes of copper cathode per annum. As a result, this assessment has become the design basis for the upcoming PEA. “We remain very excited at the potential to find additional oxide resource tonnes around the Project, which could change its scale and mine life in t...